News 
May 9, 2025 
4 min. 
Once a vocal skeptic, former U.S. President Donald Trump has undergone a dramatic transformation in his stance on digital assets, a shift now widely referred to as Trump’s Crypto U-Turn. Back in 2019, he dismissed cryptocurrency as having value “based on thin air.” But in 2025, he’s emerged as one of the industry’s most vocal champions, diving headfirst into memecoins, NFTs, DeFi, and stablecoins.
According to a new report by the State Democracy Defenders Fund, the Trump family’s net worth has grown by a staggering $2.9 billion due to crypto-related ventures. Shockingly, 40% of that wealth is now held in digital assets.
Crypto Power Plays Disrupt Washington: Stablecoin Bill Fails Amid Trump Ties
Trump’s growing involvement in crypto is already reshaping the political conversation. A bipartisan stablecoin regulation bill was blocked in Congress this week, with Democrats voicing concern over Trump’s financial interests in the space.
His November election victory only added fuel to the market rally, primarily driven by two major trends: institutional bitcoin ETF adoption and the retail-driven surge in memecoins.
While ETFs attracted heavyweight investors, memecoins lured retail participants into a volatile market rife with speculation — and, increasingly, manipulation.
98% of Memecoins Are Scams? Solidus Report Exposes “Pump.fun” Reality
On Thursday, blockchain security firm Solidus Labs released a bombshell report claiming 98% of tokens minted on pump.fun were rug pulls or pump-and-dump schemes. The platform has since pushed back, but concerns remain.
Chainalysis added further fuel to the fire, reporting that most TRUMP token holders lost money. Launched with a day-one high of $77.26, TRUMP has plunged 86% to $10.80. The MELANIA token, named after Trump’s wife, performed even worse, falling over 97% and now trading near $0.33.
Trump’s social media promotion of both tokens triggered a frenzy. More than 760,000 wallets (primarily belonging to retail traders) reportedly lost funds on the TRUMP token alone.
Behind the Scenes: Insiders Raked in Millions as Retail Investors Lost Out
Yet a handful of wallets dodged the downturn. Chainalysis identified 58 wallets that each made over $10 million in profits. Meanwhile, TRUMP’s creators earned $320 million in trading fees, with a small cut going to decentralized exchange Meteora.
MELANIA’s launch raised further eyebrows. As reported by the Financial Times, a group of insiders allegedly used “sniping” tactics to buy tokens before the public announcement, netting $100 million by flipping MELANIA for USDC after its price spiked.
One insider, Hayden Davis of Kelsier Ventures (also behind the failed LIBRA stablecoin project in Argentina), confirmed his role during a February interview with Coffeezilla.
“This might put me in danger, but I’ll answer,” Davis admitted. “I was involved with MELANIA. The team expected a major snipe after what happened with TRUMP. We weren’t the big sniper, and we didn’t take any liquidity—zero.”
Trump’s Crypto Empire: Market Maker or Market Manipulator?
As Trump continues to tie his brand to the blockchain, questions about transparency, insider access, and retail protection are gaining traction. His pivot from crypto skeptic to crypto power broker is driving both market momentum and regulatory anxiety, reshaping not just portfolios but policies.
