President Trump's family made billions (on paper) in early September when their cryptocurrency venture went public.

According to NPR, the launch of World Liberty Financial tokens raises serious questions about conflicts of interest and the environmental impact of politically connected crypto operations. 

What happened?

World Liberty Financial began publicly trading its "$WLFI" tokens on Sept. 1. The crypto-based business, co-founded by Trump and his sons last year, generated approximately $5 billion in wealth for the family. 

The tokens started trading at 32 cents before dropping to 22 cents a few days later. While the Trump family can't immediately sell their holdings, the public launch creates new pathways for them to profit from the cryptocurrency industry in the long term. 

"You used to have to join Mar-a-Lago," said Ross Delston, a former Federal Deposit Insurance Corporation banking regulator, per NPR. "This is much more fun. You don't even have to get out of bed in the morning. You can invest in this cryptocurrency, and now he's your friend."

However, Senator Elizabeth Warren (D-MA) called the situation improper. 

"It's corruption, plain and simple," she wrote on X, linking to a report from The Wall Street Journal about the Trump family's profit. 

Why is Trump's new cryptocurrency concerning?

The launch demonstrates how cryptocurrency operations can create massive environmental costs, as well as unfairly benefit political insiders. 

Trump himself switched from calling bitcoin "a scam" in 2021 to courting crypto investors during his 2024 presidential campaign. He promised to make America the crypto capital of the world, appointing crypto-friendly officials to regulatory positions, per PBS. 

The industry as a whole consumed enormous amounts of energy in 2024, with bitcoin alone using more electricity than some entire countries, per Digiconomist. 

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Politically connected ventures that profit from this energy-intensive industry create additional incentives to maintain environmentally harmful practices. 

The token system also allows anyone, including foreign actors or convicted individuals, to directly contribute to presidential family finances without traditional governmental oversight. 

What's being done about crypto's detrimental impacts?

On the whole, the cryptocurrency industry presents major environmental challenges. Many crypto operations consume massive amounts of energy — often from dirty fuel sources — that contribute to air pollution and rising global temperatures. 

However, some new cryptocurrency projects now power their operations with renewable energy sources, such as solar and wind. 

These ventures can even finance clean energy development, creating more positive energy outcomes. Major crypto companies increasingly invest in carbon-neutral mining operations and support renewable energy projects. 

Advocates are pushing for regulations that require crypto operations to disclose their energy sources and overall environmental impact. 

Some proposed legislation would incentivize cleaner energy use in cryptocurrency mining and penalize operations that rely heavily on coal or gas power.

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