One of the many unprecedented aspects of Donald Trump’s first term in office was his shameless self-enrichment, which resulted in several federal complaints due to violations of the emrocers’ clause-the determination of the US constitution that prohibits federal officials to accept money and gifts from domestic and foreign actors. However, two of these lawsuits were rejected after Trump’s election defeat 2020, eIne third parties were collected by the Supreme Court, which gave the judgments of lower authorities, which would have allowed the lawsuit to be followed up.
Crypto industry, Liberland and Trumps new millions
In the first months of his second term, Trump is more aggressive than ever making profit from his powerful position – especially in the area of cryptocurrencies. New research of the anti-corruption organization Accountable.Us, which were exclusively shared with Rolling Stone, suggest that it now disregarded the federal law against the acceptance of emrocers in a new way. Trump is not only actively looking for the end of the should with foreign governments-including the United Arab Emirates-about deals with the emerging crypto empire of his family, but is also increasingly intertwined with a great investor who describes himself as the prime minister of a tiny European state-a country that does not yet exist technically.
The crypto industry massively supported Trump 2024-it was the largest corporate donor in the campaign-and the family of the president has enriched itself significantly through new crypto initiatives, including by collectible meme coins and the World Liberty Financial crypto tour. Their combined assets have risen by billions, cryptocurrencies now make up the majority of Trump’s private assets, and his government does everything to relax the regulation of digital assets. This creates obvious opportunities for actors from home and abroad to approach the president by supporting the crypto projects of the Trumps.
Violations of the law and questionable figures
Eric Trump and Zach Witkoff, co-founder of World Liberty Financial, announced a sensational deal last month: The risk capital company MGX supported by the United Arab Emirates will use the digital currency USD1 for a two-millions dollar business with Binance-the world’s largest crypto tour. The Trumps and Witkoffs – Zach is the son of the billionaire Steve Witkoff, co -founder of World Liberty and current special envoy of the White House for the Middle East – could collect dozens of million dollars.
In 2023, Binance owed a number of financial crimes, including money laundering, and paid a penalty of $ four billion. A civil lawsuit from the US stock exchange supervision SEC was dropped in May after the authority hired a number of assertive procedures against crypto companies.
The democratic senators Elizabeth Warren and Jeff Merkley warned in a letter that the introduction of the USD1 token heralded “a new level of public corruption” by creating an easy way for foreign governments to provide Trump bribes. They also noted that the MGX deal could “offer a template for other foreign governments” in order to achieve Trump’s favor.
According to Accountable. Trump’s connection to a certain crypto magnate: Justin Sun, a crypto billionaire born in China, which until recently could not enter the United States. Now he regularly visits events on American soil-also those with the president or at the Ultra-Maga Bitcoin 2025 conference in Las Vegas-after investing $ 75 million in the Wlfi token from World Liberty and the SEC then put their fraud against him.
The fake state of Liberland and diplomatic ambitions
Sun is now the official consultant of World Liberty and an active promoter. His own crypto platform Tron was referred to by the UN office for drug and crime fighting as a “preferred election for money washer” in Asia. Tron is said to go to the stock exchange in the United States, Eric Trump will take on a role. SUN also invested around $ 40 million in the Meme-Coin $ Trump, which Trump published two days before you take office, and thus became the largest investor. Together with around 200 other major investors, he was a guest of honor last month at an exclusive dinner in the Trump Golf Club at Washington, DC
In October, Sun was elected Prime Minister of Liberland, an internationally unknown micronation. It was founded in 2015 by the Czech libertarian Vít Jedlička on about 2.5 square kilometers of forest area in Croatia on the banks of the Danube. According to its own website, the project has over 1,000 citizens and around 800,000 applications for citizenship. The economy and administration of the “state” are based entirely on blockchain technology, with a token for shops and another for elections. There is no weapon control, taxes are voluntary – but only those who pay can choose. Motto: “Leave and live.”
Sun acts as a de facto ambassador of the theoretical state. And together with Jedlička, the President of Liberland, promotes recognition by other nations. Also through the USA. In May, Jedlička released a video that shows Sun when entering the White House. With the comment: “Prime Minister of @liberland today in the White House!” In a video on the Liberland YouTube channel, Sun described his investment in World Liberty as a “very valuable opportunity for Liberland in 2025”. And mentioned a meeting with Steve Witkoff. Who continues to hold shares in World Liberty and is also active in the White House.
Constitutional risks and profiteers
The lawyer Richard Painter, Vice Chairman of the Watchdog Group Crew and former chief ethicist in the White House under George W. Bush, believes that Sun “lives in a fantasy world” when it comes to the recognition of Liberland. But a real attempt to establish a sovereign state-which would represent Sun as the head of state-could touch the emrocers clause. Sun could try to set up its own financial rules in “his” country. “It will be like Bermuda for tax havens,” he says. The disregard for EU finance rules by Liberland would be a signal for serious separatism.
In this case, according to Painter, SUN could actually be considered a foreign head of state. And that Trump benefits from his investments would be problematic under constitutional law. “The emrocation clause applies to foreign princes and heads of state. But also to those who pretend to be sovereign governments. Whether the United States recognizes it or not,” said Painter. “We do not officially recognize Taiwan. But grants from his government would still be a violation of the clause.”
An official US knowledge of Liberland by Trump’s government would tighten the corruption problem. But Sun and his allies are very interested in it. You could run a block-based country as a crypto cartel. Free of regulation.
Neither World Liberty Financial nor Sun reacted to the ethical evaluation of their business relationships with the president.
Reactions and political explosiveness
However, deputy press spokeswoman Anna Kelly replied with a statement. “The president is working on securing good deals for the American people. Not for themselves,” she wrote. “President Trump only acts in the interests of the American public. Therefore, despite years of lying and false accusations of the fake news media.”
Tony Carrk, Managing Director of Accountable.us, sees it differently. “In total disregard for the emrocer clause and all ethical standards, Trump and Steve Witkoff use a hardly regulated cryptosystem to die dozens of millions of dollars from a suspected Chinese crypto fraud. Which has apparently made himself a leader of his own micronation with this wealth. And now hopes for recognition through the US government.”
Carrk continues: “While Sun and many other foreign investors with hidden intentions were allowed to buy a direct connection to the president, Trump has so far not affected a single millions of Americans who lose their health insurance or food aid through his ‘beautiful’ tax reform. Trump’s open handling of corruption seems to be his strategy to avoid a parliamentary examination.”
Trump’s crypto assets breaks all dimensions
Representatives of World Liberty Financial openly advertise that large investments in the company secure a wire to the president. Which was still listed as the company of the company until recently. On the website he appears first under the co -founders emeritus. Together with his sons. In addition, he actually determines the US crypto policy. World Liberty contacted many foreign companies to increase its reach. And sold over 500 million dollars to tokens by March. The conflicts of interest that Trump received in the crypto area, as well as the potential extent of emrocers’ violations, far exceed the repeated allegations from Trump’s first term that foreign governments have bribed it through hotel and restaurant bookings.
By the way. Liberland was also involved at the time. 2018-One year after the first visit to a delegation to take part in Trump-his leadership organized an exclusive reception for US parliamentarians at the Trump International Hotel in Washington. And spent at least $ 750,000. The Trump company sold the hotel in 2022. Today, the presidential family earns significantly more through its crypto partners. After over a century as a real estate dynasty, the Trump family has now found a new, even more lucrative business area.