U.S. Senator "Trump Family Made Undue Profits with Virtual Assets" Fiercely Criticizes

▲ Donald Trump, Eric Trump, Bitcoin (BTC), Ethereum (ETH), Virtual Assets/ChatGPT Generated Image

Senator Bernie Sanders strongly criticized the family of former U.S. President Donald Trump, alleging that they have made unprecedented undue profits by utilizing virtual assets and various business rights.

In remarks released on X (formerly Twitter) on April 23 (local time), Senator Bernie Sanders claimed that the Trump family generated a total of $4 billion in profits while Donald Trump served as president. Sanders condemned this behavior as "unprecedented kleptocracy," escalating his criticism. According to reports, the Trump family reaped enormous profits through various channels, including virtual asset investments, dealings with Gulf nations, Qatari aircraft transactions, Mar-a-Lago events, and Truth Social.

Notably, profits from the virtual asset sector accounted for an overwhelming proportion. According to data cited by Senator Sanders, the Trump family earned $3.02 billion through cryptocurrency transactions. This profit is linked to virtual asset projects such as American Bitcoin Corp (ABTC), World Liberty Financial, and the Trump (Official Trump, TRUMP) and Melania (Official Melania, MELANIA) memecoins.

World Liberty Financial is a project where former President Trump's sons are listed as co-founders. According to the project's disclosures, 75% of the token sale proceeds flow directly into Trump-related entities. In addition to Senator Sanders, Senator Elizabeth Warren has labeled such behavior "the highway of crypto corruption" and urged the Treasury Department to investigate, indicating a growing backlash from the political sphere.

Other detailed profit items included $425.8 million from Gulf nation transactions, $150 million related to Qatari aircraft, and $127.7 million from legal fees and merchandise sales. Senator Sanders also cited $19.6 million directly earned by Donald Trump Jr., the former president's eldest son, and $125 million in Mar-a-Lago operating profits as outcomes of this kleptocracy. The White House has not yet issued an immediate statement regarding Senator Sanders' remarks.

The controversy surrounding the profits gained by a former president's family through connections to the virtual asset market is expected to lead to future investigations by regulatory authorities and political debates. Notably, the World Liberty Financial Token (WLFI) recently traded at $0.07739, up 0.87% in the last 24 hours, and the TRUMP memecoin also rose 0.19% to $2.84, drawing market attention. The impact of allegations of seeking private gain through public office on the overall credibility of the virtual asset industry is also noteworthy.

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