{"id":17064,"date":"2025-10-16T20:09:21","date_gmt":"2025-10-16T18:09:21","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=17064"},"modified":"2025-10-16T20:09:21","modified_gmt":"2025-10-16T18:09:21","slug":"the-trump-familys-remarkable-crypto-windfall","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/16\/the-trump-familys-remarkable-crypto-windfall\/","title":{"rendered":"The Trump Family’s Remarkable Crypto Windfall"},"content":{"rendered":"

“`html
\n<\/p>\n

\n

This day in crypto, a recent Financial Times article asserted that the Trump family\u2019s crypto initiatives have yielded over $1 billion in earnings, and Paxos indicated it inadvertently minted 300 trillion PayPal stablecoins before it was swiftly detected and reported by members of the crypto community, demonstrating blockchain\u2019s clarity.<\/p>\n

Trump\u2019s second term boosts a $1 billion crypto fortune for his family: Article<\/h2>\n

US President Donald Trump\u2019s second term has aligned with a remarkable surge in his personal fortune<\/a>, a significant portion of it associated with an expansive cryptocurrency empire established by the president and his family. <\/p>\n

As per a Financial Times study<\/a>, Trump\u2019s crypto initiatives have produced over $1 billion in pre-tax earnings over the last year. Trump\u2019s son, Eric, validated to the publication that the family\u2019s actual earnings were \u201clikely more.\u201d<\/p>\n

At the core of this newfound fortune is World Liberty Financial, a crypto firm established by Trump\u2019s sons and associates, which has sold billions<\/a> in tokens and stablecoins. The initiative, which identifies President Donald Trump as \u201cco-founder emeritus\u201d on its website, debuted last year with intentions<\/a> for a crypto-lending application.\u00a0<\/p>\n

In June, Trump reported $57.4 million<\/a> in revenue from his participation with World Liberty Financial. Last month, the Trump family\u2019s investment in the venture escalated to $5 billion<\/a> following a token unlock. The FT estimates that the family has profited$550 million from WLFI this year. <\/p>\n

The Trump family has also benefitted from memecoins such as Official Trump (TRUMP<\/a>) and Official Melania Meme (MELANIA<\/a>), which altogether generated hundreds of millions in revenue through sales and trading commissions. <\/p>\n

Trump family receives over $1 billion from crypto ventures. Source: Financial Times<\/em><\/figcaption><\/figure>\n

Paxos unintentionally mints $300 trillion PYUSD before burning it<\/h2>\n

On Wednesday, Paxos inadvertently<\/a> minted $300 trillion of the PayPal USD (PYUSD) stablecoin, characterizing it as an \u201cinternal technical malfunction.\u201d\u00a0<\/p>\n

\u201cThis was an internal technical malfunction,\u201d stated Paxos. \u201cThere is no security compromise. Customer assets are secure. We have resolved the root issue.\u201d<\/p>\n

The event occurred on Oct. 15 at 7:12 pm UTC, and the full amount was incinerated just 22 minutes later as witnesses recognized it almost instantly.<\/p>\n

PYUSD preserved its dollar peg after the announcement, although its price briefly dipped by around 0.5%, based on information from Nansen. The crypto borrowing and lending platform Aave also temporarily halted trading for PYUSD shortly after the event.<\/p>\n

Paxos\u2019 $300 trillion mistake illustrates why banks should embrace blockchain, executives argue<\/h2>\n

While erroneous transfers are not uncommon in finance, the Paxos occurrence underscores why blockchain affords superior transparency compared to conventional banking\u2014and why banks should implement it for that very reason.<\/p>\n

Source:<\/em> Ted Pillows<\/em><\/a>
<\/figcaption><\/figure>\n

\u201cErrors can occur in any financial system\u2014the distinction with blockchain is that they\u2019re visible, trackable, and swiftly rectifiable,\u201d Kate Cooper, CEO of OKX Australia, remarked to Cointelegraph. \u201cThis transparency is an asset, not a drawback,\u201d she further emphasized.<\/p>\n

\u201cAs a former banker, I view this as evidence that visibility fosters confidence. The same infrastructure that reveals an error can also enhance governance and modernize how value circulates in the financial system.\u201d<\/p><\/blockquote>\n

Ryne Saxe, CEO of the cross-chain stablecoin liquidity platform Eco, echoed similar views, asserting: \u201cThis level of transparency and synchronized operation is unprecedented in the current central banking economy.\u201d<\/p>\n