Summary
President Donald Trump's media company, Trump Media and Technology Group, formed a business partnership with Crypto.com, a cryptocurrency firm previously under investigation by the government. After Trump's election in 2024, the legal investigation into Crypto.com was dropped. Crypto.com then invested with Trump's company, raising concerns about potential conflicts of interest.
Key Facts
- Crypto.com faced a government investigation under President Joe Biden's administration, which was later dropped after President Trump's 2024 election.
- After the investigation ended, Crypto.com partnered with Trump Media, investing about $1 billion into a venture.
- Trump Media, primarily owned by Trump, received a significant ownership stake in the deal without major cash investment.
- Legal and ethics experts express concerns that Trump's business deals could create conflicts of interest.
- Trump Media hasn't achieved profitability, losing over $400 million last year.
- The White House states that Trump has taken actions to avoid conflicts of interest by putting his business in a trust controlled by his sons.
