Special ReportThe self-styled crypto president is regulating the very industry in which he is expanding his businesses.The Trump family is invested in a broad swathe of crypto ventures.The market value of Trump crypto firms is falling fast.Donald Trump slaps his name on pretty much anything: cologne that’s a “rallying cry in a bottle,” gold-embossed sneakers, and even porterhouse steaks.Now, the 47th president and his family have cranked up their ambition, building a crypto empire even as Trump’s administration plans a regulatory and legislative overhaul of the industry.Political experts say the unprecedented situation raises clear conflict of interest concerns.There are memecoins, a DeFi app, NFTs, and a newly launched investment business called Truth.Fi, which says it plans to manage crypto in accounts for clients with the help of Charles Schwab, the giant brokerage.A DL News analysis maps out the entities and people that control the various enterprises and holdings that, taken together, are valued at about $15.6 billion. But in recent days investors have been shedding Trump crypto coins at a rapid clip.The White House and the Trump Organization did not respond to a request for comment.MemecoinsWhat better way for a US president to ring in his inauguration than with… a memecoin?“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!,” he posted two days before he was sworn into the nation’s highest office on January 20.The market value for TRUMP soared to $15 billion, making it the third-highest-valued memecoin ever, according to CoinGecko.Since then, the token has lost three-quarters of its market value. His wife, Melania, launched her own memecoin shortly afterward, and it has dropped 87%.The memecoins triggered blowback from many in crypto who decried the move as “radioactive” and a “cash grab.”Two companies, CIC Digital LLC and Fight Fight Fight LLC, collectively own 80% of Trump’s token, which has a paper value of over $14 billion, according to his memecoin’s website.Trump wholly owns CIC Digital, according to his 2024 financial disclosure.CIC Digital jointly owns Fight Fight Fight with another firm called Celebration Cards LLC, which is registered in Wyoming by Andrew Pierce, a corporate paralegal for Wyoming LLC Attorney.Pierce’s firm specialises in setting up anonymous shell companies and asset protection planning, according to its website. Pierce did not respond to a request for comment.Because Celebration Cards is set up through a third party, little is known about its ownership or financials.Several other companies connected to Trump’s businesses, such as his line of sneakers, are also registered in Pierce’s name and are similarly opaque.The company structure behind Melania’s memecoin is simpler.It’s issued through Florida-registered MKT World LLC, a firm run by the First Lady, according to Florida’s business registry.In 2023, MKT World notched between $1
