From Coin Game Launch to White House Dinner…'Trump's Virtual Asset Risk' Grows

Trump, who calls himself the 'Virtual Asset President'

Industry concerns grow over business attitude

Is credibility declining and regulatory risk increasing?

Donald Trump, the U.S. President who calls himself the president of virtual assets (cryptocurrency), is actively pursuing businesses related to virtual assets such as blockchain games, raising concerns that Trump's actions will eventually pose a risk to the industry.

On the 15th, Fortune reported, "U.S. President Trump is scheduled to launch a virtual asset game similar to the famous real estate trading game 'Monopoly' at the end of April." President Donald Trump's virtual asset business is expanding into the blockchain game sector following the launch of non-fungible tokens (NFTs) and meme coins.

The Trump family's virtual asset finance and mining businesses are also expanding in scale. Starting with the decentralized finance (DeFi) project World Liberty Financial (WLFI), active business promotion is underway, including the launch of a dollar-based stablecoin and the establishment of a Bitcoin (BTC) mining company.

Trump's business expansion is positive in that it can attract public interest in the industry. While it raises expectations that virtual assets could emerge as a global core industry, there are also forecasts that it could lower the industry's credibility and adversely affect regulatory easing. If Trump uses his position to raise virtual asset prices and pursue private interests, a 'conflict of interest' could arise.

Previously, the official meme coin Melania (MELANIA) foundation of Trump's official first lady was found to have continuously sold tokens and made profits. The same goes for the dinner for top holders of Official Trump (TRUMP) announced on the 23rd (local time). The New York Times pointed out, "This is tantamount to offering access to the White House in exchange for virtual asset investments. Considering the share ratio and price increase, Trump is seeing huge profits on the books."

Hwang Hyo-jun, an analyst at Xangle, said, "The act of Trump, a policy maker and market participant, using his position to gain profits can undermine the overall trust in the virtual asset industry," adding, "There is also a possibility that the Web3 industry and virtual assets could be mistaken as mere speculative tools."

If President Trump continues to repeat acts of pursuing personal interests while advocating for the growth of the virtual asset industry, people will inevitably question virtual assets and related policies.

There is also a view that the continuously raised legal and political risks will prompt authorities to strengthen regulations. Earlier this year, Democratic lawmakers, including Senator Elizabeth Warren, and political groups in the U.S. called for a legal investigation into President Trump's meme coin issuance and other virtual asset businesses.

Jin Hyun-soo, a lawyer at Decent, said, "If Trump was substantially involved in the business or pursued financial gains, legal issues could arise. Lawsuits or investigations by the U.S. Securities and Exchange Commission (SEC) are also possible. If Trump's virtual asset business encounters legal issues, it could become a major factor in strengthening future virtual asset regulations."

U.S. investment bank TD Cowen said in a report, "Trump's actions could bring about a political backlash that could nullify all positive changes to virtual assets. It could be a major obstacle to related legislation and regulatory reform."