Donald Trump’s finances may seem like accountants and political wonks, but they are not. We understand if you’re rolling your eyes at yet another headline yelling about how millions of dollars. His newly filed financial disclosure shows him earning more than $600 million on that investment. That eye-popping amount includes a record $1.2 billion from cryptocurrency, so listen up. This radical pogrom predates Trump. It affects the promise of democratic access to finance, regulation, and the underlying social construction of our economic reality.

Meme Coins Now Political Currency?

Let’s be blunt: $320 million from a meme coin called $TRUMP is absurd. Think about that for a second. While some people are working tirelessly to save for retirement, others are gambling on digital jokes, and a former President is cashing in. It's easy to dismiss meme coins as silly internet fads, but Trump's massive profit turns them into something else entirely: a potent, potentially dangerous, form of political currency.

That’s because it further normalizes the targeting of speculative assets to acquire political influence. Consider a world in which political campaigns are largely funded by pump-and-dump schemes, and political endorsements can be purchased and traded with digital tokens. This creates a dangerous slippery slope that allows the rich and well-connected to game the markets. They can fund these electoral attacks without any accountability. Remember the GameStop saga? Now picture that on steroids, with political agendas feeding the frenzy.

This isn't just about Trump. It's about the precedent it sets.

Regulation: Missing in Action?

At the time, Trump had pulled in a staggering $57.35 million through World Liberty Financial’s token sales alone. He further possesses approximately a whopping 15.75 billion governance tokens. Governance tokens Magic’s governance tokens, at least in theory, empower token holders to have a voice in the future direction of the project. What is the impact when one person, particularly one with the influence of someone like Trump, is allowed to control such a huge percentage?

It's a recipe for manipulation. And where are the regulators? The SEC is ramping up its long-game battle to control the crypto market. Too often, these deals slip through the cracks. Are we really okay with a system where a former President can amass a fortune in a largely unregulated market, potentially exploiting loopholes and vulnerabilities that everyday investors can't even comprehend?

You might be thinking, "I don't invest in crypto, so this doesn't affect me." Think again. This inadequate or unclear regulation in the crypto space generates systemic risk. When these markets inevitably crash, it’s not only the crypto investor that loses their shirt. It can set off greater economic turmoil, affecting everything from your retirement investments to the value of your house.

Ethics: Is This Even Okay?

Setting aside the fiscal and regulatory consequences, there’s an underlying moral issue at play here. I worry whether it is acceptable for a former President to profit so richly from a boom-and-bust, speculative, and sometimes unscrupulous market.

Let's be real. Crypto is built on a foundation of scams, rug pulls and insider trading. Just as damaging is that Trump’s close ties to the industry lend it a spurious veneer of legitimacy. Of course, that doesn’t mean he participated in any of these things. It sends a message that when it comes down to it, anything goes, ethics don’t matter when profits are at stake. That message is a dangerous one. It hits hardest a generation still reeling from economic disparity and cascading citizen distrust in institutions.

Even though that’s prior to their public service, the White House press secretary claimed that ethics briefings and financial reporting obligations were fulfilled. That doesn't address the optics. How does it look to the average American, struggling to make ends meet, to see a former President flaunting a crypto fortune built on speculative assets? It breeds anger, suspicion and cynicism that the game is rigged to benefit the rich and powerful.

None of this is related to whether or not Trump committed any crimes. It’s not about his guilt or innocence, but whether his actions are feeding an overall culture of impunity and eroding public trust in the police. It's about whether we, as a society, are willing to tolerate this kind of behavior from our leaders, past or present. Because if we aren’t, we’re creating a risky precedent for the future. And that’s something that impacts every single one of us.