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Trump Family's $2B MGX Crypto Deal, $2.9B Surge, and Global Ventures Stall GENIUS Act

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Updated May 6, 2025, 01:27 AM

President Donald Trump and his family are expanding global business ventures, including significant real estate and cryptocurrency deals across the Middle East and other regions. Eric Trump and Donald Trump Jr. have announced new Trump Organization projects in Dubai and Qatar, with the Dubai development valued at $1 billion, units priced up to $20 million, and involving partnerships with Saudi and Qatari government-linked entities. Eric Trump remarked, 'They always arrive at the word ‘yes,’ which is a beautiful thing.'

The Trump family is also active in the cryptocurrency sector. World Liberty Financial, a crypto firm 60% owned by the Trumps, recently secured a $2 billion investment from MGX, a state-backed Abu Dhabi fund, to support the USD1 stablecoin. This deal was unveiled at the Token2049 conference in Dubai, with Eric Trump and co-founder Zach Witkoff present.

These business activities have raised concerns about potential conflicts of interest, as President Trump is reported to benefit financially from most ventures. Senate Democrats have withdrawn support for the GENIUS Act, a key crypto regulation bill, citing the World Liberty Financial-MGX deal as a possible conflict of interest and national security risk. Senators Jeff Merkley and Elizabeth Warren have called for an investigation into the deal, highlighting the involvement of foreign government officials and the risk of foreign influence.

In addition to real estate and crypto ventures, the Trump family is hosting high-value fundraising events, including a $1.5 million-per-plate dinner and a May 22 event for holders of the $TRUMP memecoin. Reports indicate that President Trump's crypto holdings surged by $2.9 billion, and 40% of his wealth is now held in crypto assets, including meme coins and a stablecoin launched by a family-linked entity.

President Trump has made public statements praising the strength and popularity of cryptocurrencies, stating that 'crypto was much stronger than stocks during the crash.' However, he has given conflicting answers about his personal profits from the $TRUMP memecoin, at times stating he 'hasn't even looked' at the earnings. The Trump family is also launching the Executive Branch club in Washington, D.C., with a $500,000 buy-in.

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Sources

washingtonexaminer.com go.forbes.com triblive.com lowellsun.com

Washington Examiner

@dcexaminer

Trumps mix Middle East diplomacy with family business https://t.co/LWjxljBL4p

Forbes

@Forbes

Key Crypto Bill Imperiled By Trump Crypto Firm’s Deal With Emirati State-Owned Fund https://t.co/BP9Bja1iP8 https://t.co/33cZC92KjY

TribLIVE.com

@TribLIVE

In the crypto world, meme coins are mostly just jokes with no intrinsic value. But the Trump family is parlaying the president’s meme coin into two valuable commodities: serious cash and access to the president. https://t.co/ApP3ge50XD