Trump-linked mining company American Bitcoin combines forces with Gryphon through a merger
In the world of decentralized finance, the Trump family's main venture, World Liberty Financial (WLF), has been making waves. This decentralized finance firm, largely owned by Donald Trump and his family, was founded by Trump's sons with business partners and has been involved in controversial activities.
WLF has engaged in secretive "mutual investment" deals leveraging the Trump brand and launched a stablecoin called USD1 shortly after Trump endorsed the GENIUS Act, a stablecoin regulation law. Partners for this stablecoin included Binance, whose founder is seeking a Trump pardon, raising questions about potential conflicts of interest.
The GENIUS Act of 2025, which Trump supported, expanded the Office of the Comptroller of the Currency’s (OCC) authority to regulate large nonbank stablecoin issuers, including potentially World Liberty Financial. This law plays a key role in the regulatory environment affecting WLF’s operations and could be seen as both enabling and legitimizing Trump family crypto activities.
The Trump family's crypto ventures have not gone unnoticed on Capitol Hill. Concerns about conflicts of interest and the intertwining of politics and business have risen sharply. Democrat lawmakers, including Maxine Waters, have highlighted the overlap between Trump's crypto ventures and his political influence, calling for scrutiny and legislation like the "End Crypto Corruption Act" aimed at addressing these conflicts.
The Trump family's crypto affiliations extend beyond WLF. Partnerships with figures like the Winklevoss twins on Bitcoin mining ventures have expanded the Trump family's crypto ecosystem further.
The Trump administration's plans to accept a $400 million jet as a gift from Qatar, intended to be used as Air Force One, have also raised eyebrows.
The "End Crypto Corruption Act of 2025" seeks to prevent President, Vice-President, and Congressional members from being involved in the issuance of memecoins, digital assets, and stablecoins. Democrats, including Senator Warren, are backing this act to combat potential conflicts of interest in the intertwined financial and political interests.
In the crypto sphere, American Bitcoin, a bitcoin mining firm where President Trump's sons are key shareholders, has been making moves. Taking American Bitcoin public is a critical step towards scaling the business, according to Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8, who provided the mining equipment for American Bitcoin.
Recent developments include a merger agreement between American Bitcoin and listed bitcoin mining firm, Gryphon. After the merger, American Bitcoin shareholders are expected to own 98% of the stock, with the merged firm to be known as American Bitcoin. Eric Trump serves as the Chief Strategy Officer of American Bitcoin.
Certain $TRUMP memecoin holders were recently offered the opportunity to have lunch with the President, adding another layer to the complex relationship between the Trump family's crypto ventures and politics.
The STOCK Act requires transparent disclosure of financial interests to prevent conflicts of interest, and federal ethics laws typically limit officials from accepting foreign gifts valued over minimal amounts. However, plans exist for the jet to pass to the Trump presidential library foundation at the end of Trump's term, raising questions about the application of these laws.
Several Democrats who have previously supported bipartisan crypto legislative efforts, including Senators Gillibrand, Alsobrooks, and Kim, are also backing the "End Crypto Corruption Act of 2025". The act aims to prevent both actual conflicts and the appearance of selling influence, as foreign investments in memecoins could be viewed in this way.
This analysis is based on recent political and financial investigations and congressional disclosures as of mid-2025.
- The GENIUS Act of 2025, which expanded the Office of the Comptroller of the Currency’s (OCC) authority to regulate large nonbank stablecoin issuers like World Liberty Financial, has been crucial in setting the regulatory environment for WLF’s operations.
- Democrat lawmakers, including Maxine Waters, have called for scrutiny of the Trump family's crypto ventures due to concerns about conflicts of interest and the intertwining of politics and business, leading to proposals like the "End Crypto Corruption Act" aimed at addressing these issues.
- American Bitcoin, a bitcoin mining firm where President Trump’s sons are key shareholders, is taking significant steps towards scaling its business, such as going public and merging with listed bitcoin mining firm, Gryphon.
- The "End Crypto Corruption Act of 2025" seeks to address potential conflicts of interest in the intertwined financial and political interests by preventing President, Vice-President, and Congressional members from being involved in the issuance of memecoins, digital assets, and stablecoins.
