Why is Trump shilling crypto?

The New Statesman | UK politics and culture

The New Statesman

News & Politics, Society & Culture, News, Politics

4.4 • 1.4K Ratings

🗓️ 3 June 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

If there's one thing that the president loves, it's money. Recently, Trump has turned his attention to crypto - going into business with his sons and also launching $TRUMP and $MELANIA memecoins.

But while this is one of Donald Trump’s latest passion projects, it joins a long, long list of business ventures over his lengthy career. A story that in reality involves a long list of failed business ventures, tax evasion, and multiple bankruptcies. So how has Donald Trump manage to fail upwards for more than half a century? And who pays the price when he does?

Katie Stallard is joined by Russ Buettner, investigative reporter at the New York Times and co-author of Lucky Loser: How Donald Trump squandered his father’s fortune and created the illusion of success.

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Transcript

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0:00.0	The New Statesman
0:02.0	A worth of 90 million?
0:08.0	What?
0:10.0	No.
0:11.0	No.
0:12.0	Billion?
0:13.0	No.
0:14.0	Five billion.
0:15.0	Well, that's what they said.
0:17.0	I don't know if it's true or not.
0:18.0	I mean, they say $5 billion. I don't know if it's true. If Donald Trump was any color other than orange, he'd be green.
0:26.6	Money is what always has and always will make the president's world go around.
0:31.6	Academics and analysts have puzzled over what he really wants from his time in office.
0:36.6	But there's one thing that remains consistent.
0:40.2	He wants to make more money.
0:42.4	I'm a great deal maker. That's what I do. I'm in a lot of money.
0:45.2	Trump steaks are by far the best-tasting, most flavorful beef you've ever had.
0:49.8	It's the best of the best.
0:51.5	I'm proud to endorse and encourage you to get this Bible.
0:56.0	We must make America pray again.
0:59.0	More recently, Trump has turned his financial attention to the world of crypto.
1:04.0	Join me live for the launch of World Liberty Financial.
	...

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