Trump’s New Savings Plan and Controversial Crypto Ventures
On a recent Monday morning, President Donald Trump made headlines by ringing the opening bells for the New York Stock Exchange and the Nasdaq from the Oval Office. This event celebrated the launch of “Trump accounts,” a new initiative that aims to provide $1,000 in savings for newborns, funded by federal money and private donations.
However, this announcement contrasts sharply with Trump’s previous ventures in cryptocurrency, where he and his family have made significant profits while many everyday investors faced major losses. Back in 2021, Trump labeled Bitcoin a “scam,” yet by 2025, he had amassed over $1.4 billion from his family’s crypto operations.
Among those affected by these ventures is Fatime Elrgdawy, a 29-year-old software engineer from California. She shared her experience of losing more than $1,000 on a $TRUMP coin investment last year. Initially excited, she saw her $2,000 investment dwindle to under $120 in just five months. Despite her losses, Elrgdawy considered herself fortunate compared to others who invested more heavily and lost nearly all their money as the value of the meme coin dropped by 97%.
The Trump family’s foray into cryptocurrency began in 2024, coinciding with the final stages of his third presidential campaign. Throughout the campaign, Trump made various promises to support the crypto industry, which attracted backing from wealthy executives. Their support paid off, as Bitcoin reached record highs in 2025 while the government eased regulations and pardoned some convicted scammers.
Notably, shortly before Trump’s inauguration, a company linked to the Abu Dhabi royals purchased nearly half of Trump’s main crypto venture, World Liberty Financial, injecting $187 million into the Trump family businesses. This raised eyebrows, as it involved a foreign entity investing in the business of a sitting U.S. president.
In January 2025, Trump introduced a meme coin featuring a design inspired by his post-assassination attempt moment, leading to an impressive $636 million in revenue for him that year.
However, the story isn’t as bright for many of his investors. About two-thirds of those who invested in the meme coin have lost money, with total losses exceeding $3.81 billion. Recent analysis suggests approximately 85% of buyers for one of World Liberty’s tokens are also not seeing returns.
While everyday investors are struggling, political and financial elites who supported Trump’s crypto initiatives continue to thrive. The UAE, which invested in World Liberty, gained approval to import advanced American AI chips, with connections between investors and Trump’s crypto business raising further questions.
The Trump administration maintains that there are no conflicts of interest concerning his business dealings. Trump himself has expressed that he wasn’t fully aware of the specifics of his crypto profits, insisting, “There’s nothing illegal. There’s nothing wrong with it.”
As the cryptocurrency market faces a downturn, the value of Trump’s meme coin and certain tokens associated with World Liberty has significantly dropped. Nonetheless, despite these fluctuations, Trump remains in a position to benefit, demonstrating the complexities of financial dealings at the intersection of politics and investment.
