Donald Trump Jr. has firmly rejected crypto conflict of interest claims, calling them “complete nonsense” during an appearance at the Token2049 conference in Singapore. Speaking to CNBC, the president’s eldest son dismissed concerns that his family’s latest venture, World Liberty Financial, poses ethical or political risks.
“I don’t think anyone believes my father would be looking at ledgers on the blockchain to see who bought what, and that carrying any kind of favor,” Trump Jr. said at the event.
Trump Jr., who co-founded World Liberty Financial alongside CEO Zach Witkoff—the son of U.S. Special Envoy Steve Witkoff—stressed that the company is not politically driven. “We are 100% not a political organization,” he said, addressing doubts about its ties to the Trump administration.
The controversy underscores growing debate over crypto conflict of interest claims, particularly as the Trump family’s wealth in digital assets continues to grow.
World Liberty Financial’s expanding role
Founded in September 2024, World Liberty Financial launched its U.S. dollar-pegged stablecoin, USD 1, in March 2025. The token is backed by short-term U.S. treasuries and paired with a governance token, WLFI.
According to company filings, DT Marks DEFI LLC and Trump family members receive significant platform revenue and hold WLFI tokens, though they do not serve as officers, directors, or employees.
Still, the Trump family’s stake in the project is substantial. President Trump himself holds 15.75 billion WLFI tokens—about 15.75% of the entire supply—valued at more than $1.2 billion across family-controlled ventures. His financial disclosure reported $57.4 million in personal income from World Liberty Financial in the past year, in addition to $1.16 million from his NFT projects.
The scale of the investment has fueled crypto conflict of interest claims, with critics pointing to blurred lines between business interests and potential political influence.
From mining rigs to Bitcoin treasuries
The Trump family’s involvement in crypto spans multiple ventures beyond World Liberty Financial. Eric Trump and Donald Trump Jr. co-founded American Bitcoin, which surged 110% at its Nasdaq debut in September before stabilizing at a $1.5 billion valuation. The company operates more than 6,000 mining computers and is working with Cantor Fitzgerald and Mizuho Securities on a $2.1 billion offering to expand its operations.
Meanwhile, Trump Media & Technology Group (TMTG) has built a Bitcoin treasury worth $2.1 billion, holding about 18,430 BTC—representing over 40% of its market capitalization. Despite this, TMTG shares have underperformed compared to Bitcoin itself, falling 47% over six months while Bitcoin rose 10.6%.
In July, Trump Jr. also acquired 350,000 shares of Thumzup Media Corporation, worth $3.3 million. Thumzup later purchased DogeHash Technologies, positioning itself as the world’s largest Dogecoin mining platform, with over 4,000 rigs expected by year’s end.
The scope of these projects has reinforced crypto conflict of interest claims, as the family’s commercial footprint overlaps with political spheres.
Lawmakers demand investigations
Democratic lawmakers have voiced sharp criticism, framing the Trump family’s crypto empire as an ethical minefield. Senator Elizabeth Warren and Representative Maxine Waters have led calls for investigations into World Liberty Financial, labeling it “an unprecedented conflict” with potential to sway U.S. crypto policy.
“Trump rewrote the rules, then cashed in on the chaos he helped create,” the House Financial Services Committee’s Democratic Caucus said in a statement.
The watchdog group Citizens for Responsibility and Ethics in Washington described the Trump family’s expanding digital asset dealings as “unprecedented,” warning of thousands of potential conflicts of interest.
“He appears poised to rack up more conflicts than ever, with even less transparency than last time,” the organization stated.
Adding to the controversy, The Washington Post reported that roughly 20% of Trump advisors currently hold cryptocurrency investments. Barron Trump, the youngest son, is also listed as a “Web3 ambassador” for World Liberty Financial, with an estimated personal net worth of $40 million tied to the family’s crypto ventures.
The mounting scrutiny has amplified crypto conflict of interest claims, highlighting the tension between private gains and public accountability.
A growing share of Trump’s fortune
Digital assets now account for about 9% of Donald Trump’s estimated $6 billion fortune, a striking shift as his real estate portfolio declines. The family’s ventures span NFT trading cards, memecoins, a Truth Social Bitcoin ETF, and a recently announced $6.42 billion digital asset treasury in partnership with Crypto.com.
While Trump Jr. insists political motives play no role, the convergence of family wealth, policy influence, and international partnerships ensures that crypto conflict of interest claims will remain at the center of political and financial debate.