In response to Donald Trump launching a new cryptocurrency product days before his inauguration, DNC Rapid Response Director Alex Floyd released the following statement:

“On the eve of his inauguration, Donald Trump is once again focused on the only thing that matters to him: himself. Trump’s newest grift is just the latest example of him using his position to enrich himself and his ultra-wealthy friends at the expense of working people. While Trump is busy reminding Americans that he’s nothing more than a grifter who puts himself and his bank account first at every turn, Democrats are ready to fight back against his toxic pro-billionaire agenda.”

NEW: Donald Trump announced a crypto token that allows people to “transfer money to the president’s family in connection with his office,” raising widespread concern among legal ethics experts.

New York Times: “The move by Mr. Trump and his family was immediately condemned by ethics lawyers who said they could not recall a more explicit profiteering effort by an incoming president.

“‘It is literally cashing in on the presidency — creating a financial instrument so people can transfer money to the president’s family in connection with his office’ said Adav Noti, executive director of Campaign Legal Center, a nonprofit ethics group. ‘It is beyond unprecedented.’”

Politico: “The product launch illustrates the lengths Trump is going to embrace the crypto industry and the blurred ethical lines he may be crossing as he prepares to take office. …

“A president-elect launching a new business product is a highly unusual move, and it is a major concern for ethics watchdogs, who say Trump stands to profit from policy changes he is poised to usher in.

“‘It is absolutely wild,’ said Jordan Libowitz, vice president for communications at the nonprofit Citizens for Responsibility and Ethics in Washington. ‘After decades of seeing presidents-elect spend the time leading up to inauguration separating themselves from their finances to show that they don’t have any conflicts of interest, we now have a president-elect who, the weekend before inauguration, is launching new businesses along with promises to deregulate … those sectors in a way to just blatantly profit off his own presidency.’”

Forbes: “The launch of Trump Coin raises serious ethical questions about the intersection of political power and speculative assets. Unlike traditional Trump-branded ventures, cryptocurrency’s pseudonymous nature means anyone globally can invest without identity checks, potentially creating concerns about undue influence on a sitting president. These concerns echo but potentially amplify similar issues raised around Trump’s other business interests, including Trump Media and Technology Group’s Truth Social platform.” 

REMINDER: Trump is a con artist who loves nothing more than to scam the American people.

New York Times: “Last fall, the Trump family helped launch World Liberty Financial, a platform for investors to borrow and lend using cryptocurrencies. The Trump family members are not owners or officers in the company, but they have an agreement to be paid for helping promote it. … 

“As of November, World Liberty claimed to have at least 20,000 token holders who have bought a stake in what the company calls a ‘platform inspired by Donald J. Trump.’ These purchases were made even though the tokens — at least for now — cannot be resold, meaning they have no immediate value to the buyers.

“But the purchases, made by individuals whose names are not public, should generate tens of millions of dollars in payments to the Trump family, according to company filings.”

Mother Jones: “The meme coin is just the latest in a bizarre line of grifty, super-weird takes on ‘merch.’ Last February, Trump showed off gold ‘Never Surrender High-Tops’ for $399 at Sneaker Con, which had Fox News applauding his appeal to Black voters. In March, he began endorsing the $59.99 ‘God Bless the USA Bible,’ which includes the Constitution, the Bill of Rights, and handwritten lyrics to the chorus of Lee Greenwood’s ‘God Bless the USA.’ (Trump’s inaugural committee has confirmed that he will not be using one of these Bibles to swear the presidential oath of office on Monday.) In August, Trump released a new round of his ‘baseball card’ NFTs.” 

Business Insider: “Former President Donald Trump’s campaign might be cash-strapped, but that hasn’t stopped him from hawking merchandise that will benefit him directly.”

Axios: “This evening [Trump is] expected to join supporters who bought at least 47 Trump NFTs (at $99 each), according to copy of the dinner invitation reviewed by Axios. … The NFTs are among an array of items Trump has hawked this campaign cycle. He’s also promoted $59.99 Bibles, $399 ‘Never Surrender’ sneakers and $99 ‘Victory47’ cologne.”

Slate: “Donald Trump, Grifter Extraordinaire, Is Now Selling Bibles”

ABC News: “Trump met with boos and chants while selling sneakers in Philadelphia”

Washington Post: “Around the time Trump unveiled his $399 sneakers, he also began selling ‘Victory 47’ cologne and perfume.”