Obama Accuses Trump of Personally Gaining Benefits from Cryptocurrency Business
Date: 2025-11-04 Author: Gabriel Deangelo Categories: BUSINESS
During a rally in support of Democratic gubernatorial candidate Abigail Spanberger in Virginia, Barack Obama sharply criticized President Donald Trump, claiming he is more concerned with his own financial interests than the country's economic well-being. Obama claimed that Trump prioritizes cryptocurrency projects associated with his "billionaire friends" over the needs of ordinary citizens.
The former president recalled Trump's recent decision to pardon Binance founder Changpeng Zhao, emphasizing that this move appears to be motivated by personal gain. Obama also claimed that the Trump family has been actively expanding its cryptocurrency business in recent years, while ignoring the real economic difficulties facing Americans.
"Ask yourself, are you better off? "But for Trump and his family, life has definitely improved. "Since he took office, the cryptocurrency business has earned them hundreds of millions of dollars," Obama said in a speech to Democratic supporters.
Barack Obama also accused the Trump family of receiving financial benefits from foreign investors and wealthy businessmen who invest in his crypto projects for political support. Among such initiatives, he mentioned the World Liberty Financial platform, which launched its own stablecoin, WLFI, as well as the memecoins TRUMP and MELANIA, which are generating significant profits.
According to Obama, the current president skillfully diverts public attention from economic problems by posting AI-generated content on social media. These videos, the politician noted, demonstrate Trump's "false superiority" over the American people and serve as a means of self-promotion.
Criticism of the president intensified amid the cryptocurrency market's decline in October. Renowned economist and gold investment advocate Peter Schiff stated that even Trump is unable to influence Bitcoin's fate with his grandiose statements. According to Schiff, the digital currency could collapse at any moment, despite politicians' attempts to use it for self-promotion.
Thus, Obama's speech became one of the most strident attacks on the White House's crypto initiatives in recent memory, highlighting the growing mistrust between Democratic and Republican officials over financial transparency and government ethics.
