jakiro
Deng Tong, Bitcoin Vision
Recently, the Trump family has once again become a “traffic star”. From suing the New York Times and claiming US$230 million from the Department of Justice, to the US$300 million renovation project of the White House ballroom, the Trump eldest son’s private club with a US$500,000 entrance fee, Truth Social and Crypto.com will launch a social media prediction market platform… No matter what kind of criticism from the outside world, the Trump family still lets themselves go, and this reality show starring the first family of the United States is still performing brilliantly.
1. Trump sues The New York Times
On October 16, Trump once again filed a defamation lawsuit against the New York Times and several reporters, accusing the media of attempting to undermine his 2024 campaign and disparage his business reputation.A federal judge previously dismissed the original lawsuit because the complaint was lengthy and lax.The revised complaint filed late Thursday was reduced to 40 pages, less than half the size of the original version.New York Times reporter Michael S. Schmidt, who was named as a defendant in the original complaint, has been removed from the list of defendants.Also deleted were a large number of lengthy praises of Trump, such as calling his 2024 election victory “the greatest personal and political achievement in American history.”Consistent with the initial complaint, the revised complaint still seeks $15 billion in damages.
2. Trump seeks $230 million in compensation from the Department of Justice
On October 21, the New York Times reported that Trump had asked the U.S. Department of Justice to pay up to $230 million in compensation for criminal investigations he faced before and after his first term in the White House.Trump said any decision by the Department of Justice to pay compensation “would have to be approved by me, and it would be very strange for me to decide how much to pay myself.””In other words, have you ever been in a situation where you had to decide for yourself how much you should compensate yourself?” “I did suffer substantial damage, and any compensation I received would be donated to charity.”
A spokesman for Trump’s legal team said: “President Trump continues to fight against all Democratic-led witch hunts, including the Russia hoax, and the unconstitutional and anti-American weaponization of our country’s judicial system by Biden and his handlers.”
In addition to tough fights with the Department of Justice, many companies have reached settlements with Trump. The specific list is as follows:
-
Meta: $25 million
On January 29, 2025, the Wall Street Journal stated that Meta will pay $25 million to settle the 2021 Trump lawsuit.The social media platform suspended Trump’s account following the attack on the U.S. Capitol.Of that amount, $22 million will be used for the construction of Trump’s presidential library, and the remainder will be used to pay for litigation costs and compensation for other plaintiffs.Sen. Elizabeth Warren, D-Mass., pointed out: “This looks like bribery, and it also sends a signal to all companies: corruption is the rule of the game.” In November last year, Trump mentioned the lawsuit.The president suggested the lawsuit must be resolved before Zuckerberg can be “brought into camp,” one of the people said.
-
X: $10 million
On February 12, 2025, CBS revealed: Social media platform X will pay President Trump $10 million to settle a lawsuit stemming from a nearly two-year suspension of his account following the Capitol riots.In July 2021, Trump sued Twitter, claiming that the ban on his account violated his right to free speech protected by the First Amendment of the U.S. Constitution.Musk reinstated Trump’s account in November 2022, about a month after acquiring Twitter.
-
Paramount: $16 million
On July 2, 2025, Paramount Pictures said it would pay $16 million to reach a settlement with Trump, which will be used to build Trump’s future presidential library.Trump had accused the program of deceptively editing an interview with Harris on “60 Minutes” in an attempt to “tilt the balance in favor of the Democrats.”
Democratic Senator Ron Wyden said: “Paramount Pictures paid Trump bribes to get approval of the merger…State prosecutors should make these corporate executives who betrayed our democracy stand trial in court today.”
-
YouTube: $24.5 million
On September 29, 2025, YouTube agreed to pay $24.5 million to settle the lawsuit with Trump.In 2021, Trump’s account was banned shortly after the Capitol riots.Although YouTube does not have to admit fault, it must donate $22 million to the nonprofit National Mall Trust Fund at Trump’s request to fund the construction of the White House State Dining Room.Another $2.5 million will go to Trump supporter groups, including the American Conservative Union and author Naomi Wolf.
The above four companies have reached a cumulative settlement of US$75.5 million with Trump. If the lawsuit with the Department of Justice is settled, the total settlement may exceed US$300 million.
3. US$300 million renovation project of the White House Ballroom
On October 24, The Verge reported that Trump was demolishing the East Wing of the White House to make room for a splendid banquet hall.Trump said the $300 million cost would not be borne by taxpayers but by private donors, including himself.
The list of donors includes some of the largest U.S. technology companies, such as Amazon, Apple, Google, Meta and Microsoft.Of that amount, Google-owned YouTube has agreed to pay more than $20 million to the project.Companies in the cryptocurrency space are also generous: Ripple, Tether America, Coinbase, and the Winklevoss brothers (Cameron and Tyler each appear on the list) have all contributed.Defense and telecom giants such as Lockheed Martin, Comcast, T-Mobile and Palantir also made the list.
4. Truth Social will launch a social media prediction market platform with Crypto.com
On October 28, Bloomberg reported that Trump Media Technology Group plans to provide prediction contracts on its Truth Social, allowing users to bet on events ranging from political elections to changes in inflation rates.The program, called Truth Predictions, will use Crypto.com Derivatives North America for prediction betting and will place bets on commodity prices and events across all major sports leagues.
Crypto.com CEO Kris Marszalek has had a good relationship with Trump and his businesses.He was one of the first cryptocurrency industry executives to visit Mar-a-Lago after Trump won the election last year, and Crypto.com donated $1 million to Trump’s inaugural committee.Its parent company later donated $10 million to Trump’s super PAC, MAGA Inc.
Devin Nunes, CEO of Trump Media and a former Republican representative, said in a statement: “For too long, global elites have tightly controlled these markets – through truth predictions, we are democratizing information and empowering ordinary Americans, harnessing the wisdom of the crowd and turning free speech into actionable vision.” If fully launched, Truth Social will be the first social media platform to natively integrate prediction markets.The move expands Trump Media’s business beyond social media into financial products, allowing users to turn their opinions into bets and view changes in market-based odds in real time.
Kris Marszalek, CEO of Crypto.com, said the partnership aims to bring prediction market trading to a wider audience by combining social interaction with financial predictions.
5. Trump’s eldest son’s private club with a $500,000 entrance fee
Trump’s eldest son’s name is “Executive Branch”The club held a launch party on Saturday night, attended by at least a half-dozen members of President Trump’s administration, as well as wealthy CEOs, tech founders and policy experts.
Executive Branch was co-founded in April by Donald Trump Jr. and 1789 Capital’s Omid Malik and Christopher Basker.Other founding members include White House crypto czar David Sacks, cryptocurrency investors Taylor and Cameron Winklevoss, and tech investor Chamath Palihapitiya.
The club only accepts membership applications recommended by founders and strictly screened.In addition to the $500,000 membership fee, the club will charge an annual dues, the amount of which has not yet been announced.The “Executive Branch” may play a similar role in Washington’s sociopolitical circles as the Trump International Hotel in Washington, D.C., during Trump’s first administration.The Trump Hotel has been a popular gathering place for government officials, Republican congressional leaders, as well as foreign dignitaries, lobbyists and business leaders.Potential members of the club must undergo rigorous vetting and approval by the founders, and although some potential members are willing to pay $1 million to join, membership still requires recommendation and rigorous screening.
A person close to the club said: “We don’t want members of the media or large lobbyists to come on board. We want people to feel comfortable having private conversations.”
6. Trump’s other remarks
1. Cryptocurrency may solve the $35 trillion U.S. debt problem
On October 23, Trump stated in a private meeting that cryptocurrency “has a great future.”future)” and suggested that the United States might be able to use cryptocurrency to solve the US$35 trillion US debt problem. According to the leaked video, Trump said: “I will write on a small note: 35 trillion US dollars of cryptocurrency, we have no debt, and this is what I like to do.” It is worth noting that this is not the first time that Trump has suggested using digital assets to eliminate the ballooning US debt. He has publicly stated on many occasions that Bitcoin can be used to “save the United States.”
2. Trump appoints Mike Selig to lead CFTC
On October 26, Mike Selig posted on the
White House Cryptocurrency and Artificial Intelligence Director David Sacks said the appointment is an excellent choice.“On behalf of the President’s Working Group on Digital Assets, Patrick Witt and I look forward to continuing to work with Mike to deliver on President Trump’s promise to make the United States the global center for cryptocurrency.”
3. U.S. stocks are outstanding
On October 29, Trump said that the stock price of Nvidia (NVDA.O) reached a new high, and the stock market also reached an all-time high yesterday.He noted that all markets are doing well and nearly every market is climbing.
4. The Fed should cut interest rates quickly
Trump continued his criticism of the Federal Reserve, once again targeting Fed Chairman Jerome Powell, accusing him of being slow to cut interest rates.In his speech in South Korea, Trump referred to “Jerome ‘Too Late’ Powell” and said he would not let the Fed raise interest rates because of concerns about inflation three years from now.He expects the U.S. economy to grow by 4% in the first quarter of 2026, well above economists’ forecasts.The comments underscored the tense relationship between Trump and the Fed.
Conclusion
Since Trump returned to the presidency, the ties between his family and cryptocurrency have become deeper and deeper, continuing to deeply bind the family business with public view.
According to an investigative report by the British Financial Times, Trump and his family made more than $1 billion in pre-tax profits from their cryptocurrency business in the past year.The investigation shows that the Trump family’s cryptocurrency empire includes multiple projects such as digital trading cards, meme coins, stablecoins, tokens and decentralized financial platforms.Among them, TRUMP and MELANIA Meme coins generated approximately US$427 million in sales and transaction fee income.The World Liberty Financial platform earned US$550 million in revenue from the sale of WLFI governance tokens, and USD1 stablecoin sales reached US$2.71 billion.
It can be seen that cryptocurrency has become an important tool for the Trump family to accumulate wealth, and since Trump returned to the White House, he has appointed pro-cryptocurrency figures to important positions to formulate a series of regulations that are conducive to the accumulation of family wealth.Trump harvests business wealth through political power, and uses business wealth to support political activities.”Trump” is no longer just a name, but also a trump card that helps the family cross borders from business to politics.During Trump’s term, the “First Family” reality show series may continue to be staged.
