Original | Odaily Planet Daily (@OdailyChina)
On January 20, Trump Media & Technology Group (NASDAQ: DJT) announced that the equity registration date for its previously announced digital token plan is set for February 2, 2026. On the registration date, the ultimate beneficial owners and registered shareholders holding at least one full share of DJT stock will be eligible to receive the digital tokens and associated incentives to be issued in the future. After the registration date, Trump Media will collaborate with Crypto.com, which will be responsible for the minting and distribution of the tokens, with specific execution mechanisms yet to be disclosed.
From a formal perspective, this resembles an intersectional experiment between crypto and traditional finance: although it is an airdrop, the holders are not crypto players but rather U.S. stock investors. However, whenever "Trump family + issuing tokens" is involved, it is hard for the market's nerves not to be touched.
After all, Trump has always been adept at capitalizing on the crypto crowd, and the last time TRUMP issued tokens is still fresh in memory. It created wealth for a large number of people but was later accused of draining market liquidity, as the market experienced a sharp correction afterward. This time, the DJT shareholder token plan represents a new twist from the Trump family based on financialization and securitization, yet there is an inexplicable sense of familiarity with being harvested—what's going on?
After Trump began his second presidential term, his public stance has clearly shifted to a more friendly approach towards the crypto industry: on one hand, promoting the construction of regulatory frameworks, and on the other, his family business is also accelerating its expansion in the crypto industry. Over the past year, crypto assets have become an indispensable component of the Trump family's wealth structure, systematically building a crypto industry network that spans DeFi, stablecoins, computing power, and financial products of listed companies.
Recent reports indicate that crypto-related projects have added approximately $1.4 billion to the Trump family's asset scale within a year, with crypto assets now accounting for nearly 20% of the overall net worth of about $6.8 billion.
Based on this, Odaily Planet Daily attempts to systematically inventory the current traceable major crypto layouts of the Trump family.
1. World Liberty Financial: Core DeFi Hub
This is the core crypto project in the Trump family's industrial layout, positioned as a decentralized finance protocol and governance platform, attempting to bridge traditional finance (TradFi) and DeFi through blockchain technology, providing users with lending, governance participation, and yield opportunities, while emphasizing the role of the U.S. dollar stablecoin in the global digital financial system.
The project was initiated in 2024 by Trump himself and his sons Donald Trump Jr. and Eric Trump, along with real estate developer Steve Witkoff and other partners.
The governance token of World Liberty Financial is WLFI, with a total supply of 10 billion tokens, currently valued at approximately $4.7 billion. The token will start selling in October 2024, raising a total of about $550 million. According to the rumored revenue distribution structure, about 75% of the net proceeds from the sale will belong to Trump family entities, meaning this alone could potentially bring them about $400 million in cash returns.
In terms of token distribution, the family-affiliated company DT Marks DeFi LLC holds about 2.25 billion WLFI tokens, accounting for 22.5% of the total. At the current price of about $0.17, its book value is approximately $380 million.
More noteworthy is its stablecoin USD1.
USD1 adopts a 100% reserve support mechanism primarily composed of short-term U.S. Treasury bonds, cash deposits, and money market funds. Defillama data shows that USD1 currently has a market value of about $3.2 billion, ranking seventh among stablecoins. For a stablecoin issued in April 2025, its growth rate is astonishing.
The most critical driving factor is Binance's deep integration and traffic support. On the BSC chain, the supply of USD1 is about $1.83 billion, accounting for 57.8% of its overall issuance.
If we assume a reserve scale of about $3 billion and assume that the annualized yield on short-term U.S. Treasury bonds in 2026 is in the range of 3.5%–4.5%, then the interest income from the reserve assets alone could reach $105 million to $135 million per year. Under the current model, this cash flow primarily belongs to the issuing entity.
From a financial structure perspective, this makes USD1 not just a stablecoin but also a financial instrument that can continuously generate U.S. dollar cash flow. For the Trump family, it can be considered a long-running "interest machine."
2. American Bitcoin Corp.: Dual Drive of Computing Power and Reserves
American Bitcoin Corp (NASDAQ: ABTC) is a Bitcoin mining and strategic reserve company, controlled by one of North America's largest publicly listed mining companies, Hut 8 Corp, in collaboration with the Trump family. Hut 8 holds about 80% equity, while Eric Trump, Donald Trump Jr., and early shareholders of American Data Centers hold the remaining 20%, with Eric Trump personally holding about 7.4%-7.5%.
The company is not merely an investment entity but operates multiple large mining sites located in Texas and other areas. In November 2025, Eric Trump showcased a mining site in Texas in a public video, deploying about 35,000 mining machines, stating that this is just a part of its overall computing power, which implies that American Bitcoin Corp may hold far more than 35,000 machines. It claims to produce about 2% of the global daily new Bitcoin output, suggesting that the company produces about 9 Bitcoins daily (with a global daily new output of about 450 Bitcoins), resulting in an annual production of approximately 3,285 Bitcoins.
According to the Q3 2025 financial report released by American Bitcoin, the revenue for that quarter was about $64.2 million, with a net profit of about $3.5 million, reversing the loss of $576,000 in the same period last year, with a mining output of 563 Bitcoins in Q3. Backtracking this, the average Bitcoin price during that period was around $114,000, and if it fluctuates in the current range of about $89,000, profitability will clearly be compressed, potentially leading to losses.
Data from bitcointreasuries.net shows that American Bitcoin Corp currently has a cumulative Bitcoin reserve of 5,427 Bitcoins, valued at about $486 million, ranking among the top twenty publicly listed companies in Bitcoin reserves.
However, the company does not fully pay cash for new mining machines but instead uses a "BTC collateral + installment/guarantee" structure, using part of its own Bitcoin as collateral to exchange for equipment from mining machine manufacturers and delay payment. The disclosed collateral BTC scale in Q3 was about 2,385 Bitcoins, which has not yet been deducted from the total reserves.
Many mining companies adopt this method, using BTC as "high-value collateral" to exchange for physical equipment. Therefore, for mining companies, this "mining output → partial collateral financing for new mining machines → increased computing power → more mining output" cycle accumulation method can amplify capital returns in an upward Bitcoin price trend; conversely, it will also amplify operational leverage during bear market phases.
3. TRUMP and MELANIA Tokens: Monetizing Political IP Traffic
In contrast to the aforementioned infrastructure-type layouts, TRUMP and MELANIA directly monetize the brand influence and market hype of the Trump family.
TRUMP is launched by Trump-affiliated companies CIC Digital LLC and Fight Fight Fight LLC. The total supply of the token is 1 billion, with an initial circulation of 200 million, while the remaining 800 million is expected to be unlocked linearly over three years. However, the two affiliated entities hold 80% of the TRUMP tokens, with a lock-up period of 3–12 months, followed by gradual release over 24 months.
According to data from tokenomist, the current circulation of TRUMP is 480 million, of which 200 million is used for airdrops and liquidity support, directly unlocked at the initial circulation, while the remaining 280 million is owned by Trump-affiliated companies. At the current price of $4.86, the paper profit is approximately $1.36 billion, even though the current TRUMP price has dropped over 90% from its peak of $77.
MELANIA is marketed by MKT World LLC, a Florida-registered company under First Lady Melania. The total amount is also 1 billion, with about 600 million currently unlocked, of which the team’s share is 350 million, valued at approximately $57.8 million at the current price.
However, the Melania team was once accused of cashing out at high levels and defrauding investors. In June 2025, on-chain data showed that addresses related to the team sold 82.18 million MELANIA through 44 wallets within four months, mainly by adding and removing liquidity, cashing out a total of 245,000 SOL, worth about $35.76 million at the time. It can be imagined that their actual profits may far exceed the current data.
4. Trump Digital Trading Cards Series NFT
NFTs are the starting point for Trump's entry into the crypto world.
In December 2022, Trump announced the issuance of Trump Digital Trading Cards NFTs through his social media website, Truth Social. This series was minted on the Polygon blockchain, initially creating a total of 45,000 NFTs, each priced at $99. Purchasing 45 digital trading cards would grant a ticket to dine with Trump. Despite being mocked at the time, the series sold out in less than two days, directly profiting $4.45 million.
After the initial sales success, Trump subsequently launched Series 2 and Series 3, with the price still at $99 per card. However, Series 2 totaled 47,000 cards, while Series 3 reached a staggering 100,000 cards. Although the quantities were exaggerated, under Trump's flashy approach, they ultimately sold out, generating approximately $14.55 million in revenue from these two sales.
In August 2024, Trump launched Series 4, still priced at $99 per card, but the total reached an outrageous 360,000 cards. However, this time, the market could not handle it. Data from Opensea shows that approximately 32,000 cards from this series were sold, yielding about $3.18 million.
Overall, this series of NFTs has brought Trump direct income exceeding $20 million, not including the 10% royalty earned when each NFT is resold in the secondary market.
5. Trump Media's Financial Product Ambitions
Trump Media Group has launched the "America First" series of ETFs and crypto treasury layouts through Truth.Fi starting in 2025. These ETFs were officially listed on the New York Stock Exchange (NYSE) on December 30, 2025, co-launched by TMTG and Yorkville America Equities (a branch of Yorkville Advisors). The first batch consists of five ETFs, all equity-themed funds focusing on the "Made in America" concept, covering sectors such as defense, security, technology, energy, and real estate, with only one related to Bitcoin.
However, TMTG has indeed filed for several pure crypto ETFs (such as Truth Social Bitcoin ETF, Bitcoin & Ethereum ETF, Crypto Blue Chip ETF), which plan to directly hold assets like Bitcoin, Ethereum, Solana, and Cronos (CRO) (for example, the Crypto Blue Chip ETF initially allocates 70% to BTC, 15% to ETH, etc.). However, these crypto ETFs are still in the SEC filing/approval stage and have not yet been approved for listing or trading.
Moreover, Trump Media Group itself holds approximately 11,500 Bitcoins, valued at about $1.03 billion, ranking 12th among publicly listed companies in Bitcoin reserves, with no sale records to date.
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