Is Donald Trump cashing in on the crypto craze—or crossing ethical lines?

UnHerd’s Freddie Sayers and CoinDesk’s Ben Schiller unpack the Trump family’s sudden crypto conversion and what it means for politics, finance, and ethics. Once a vocal crypto critic, Trump now calls himself a “big fan,” with his family and inner circle making major moves in the digital asset world.

Freddie and Ben look at the Trump family’s 60% stake in World Liberty Financial—a $2.2B crypto venture backed by high-profile investors like Justin Sun and Abu Dhabi—and the controversial launch of the $TRUMP memecoin ahead of the 2025 election. Add to that Trump Media’s $2.5B war chest reportedly aimed at a Bitcoin buying spree—are we witnessing smart strategy or something shadier?

At Bitcoin2025 in Las Vegas, VP JD Vance pushed pro-Bitcoin policy and stablecoin regulation under the GENIUS Act, while Donald Trump Jr. and Eric Trump promoted their new crypto platform—pitched as a response to being shut out by traditional banks.

With Bitcoin hitting $109K and political memecoins on the rise, is this a financial revolution or just another power grab?

From institutional growth to making America the “crypto capital,” what’s next for digital finance and the Trump administration’s role in it?

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