- President Donald Trump praised cryptocurrency as “powerful” and called himself a “big crypto guy” at the July 6 launch of tax-advantaged investment accounts for children.
- He distanced himself from his family’s crypto ventures, saying “I let my kids do whatever the hell they do” and that there was “nothing illegal” about their activity.
- The comments come as bipartisan lawmakers negotiate ethics rules limiting how federal officials profit from digital assets while in office.
President Donald Trump described cryptocurrency as “powerful” and called himself a “big crypto guy” during the July 6 launch of new tax-advantaged investment accounts for children, even as he sought to distance himself from his own family’s digital-asset businesses.
Speaking at the event for the “Trump accounts,” which do not themselves include crypto, the president said he had “got involved in it a little bit for politics” because many voters supported the industry.
Pressed on his family’s ventures, he said, “I let my kids do whatever the hell they do… I don’t talk to them ever about it,” and, referring to the family-linked platform World Liberty Financial, added there was “nothing illegal, there’s nothing wrong with it.”
Read more: Bitcoin ETFs Suffer Record $4.5 Billion Exodus in June as Demand Cools
Scrutiny Over Family Ventures
The remarks land against growing scrutiny of the overlap between the administration’s crypto policy and the president’s family interests.
Trump-linked ventures, including World Liberty Financial’s $WLFI token and memecoins tied to the president and Melania Trump, reportedly generated large cash flows in his second term.
Forbes has reported the family cashed out roughly US$1.9 billion (AU$2.74 billion) across the projects, and estimated that retail investors lost about US$7 billion (AU$10.08 billion) in the same vehicles.
Office of Government Ethics disclosures have tied substantial cryptocurrency holdings to World Liberty Financial, though the figures are difficult to pin down and mix token valuations with realised proceeds. The president has repeatedly said his children run the ventures independently and that he takes no part in the decisions.
Related: Irish Authorities Recover Third Batch of Bitcoin from Convicted Drug Trafficker’s Lost Wallets, Now Totaling US$92 Million
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