Key Takeaways
- Trump’s support among young voters fell from 43% to 19% as retail users label his crypto tokens a cash grab.
- TRUMP token holders reported a sharp drop in sentiment, signaling eroding trust among key crypto backers.
- Trump earned over $500M from World Liberty Financial, fueling backlash that his ventures are profit-driven.
Trump’s Crypto Image: Big in the Industry, Falling out With Retail
Recent reports have indicated a shift in the opinion that crypto natives have of President Donald Trump, even with all the positive actions he has spearheaded for the industry.
According to The Washington Post, Trump’s popularity has taken a hit in one of the key retail crypto demographics: independent to moderate 18-to-24-year-olds. David from South Carolina, a participant in a focus group organized by the Bulwark Focus Group podcast, called Trump’s involvement in crypto a “cash grab” and criticized Trump’s continued participation in these endeavors.
“Why does he need to keep doing it? He’s literally a billionaire. Like, how much more money does he need?” he declared.
Another participant stressed that the TRUMP meme coin was a “cash grab” to “prey” on his crypto-savvy followers. “He’s a grifter,” he said. “Many things can be said about Donald Trump, but he knows how to make money. Not necessarily in an honest way,” he reportedly stated.
Trump was elected with the support of over 43% of 18-to-29-year-olds. Nonetheless, this has shrunk to 19% according to a recent Fox News poll. This sentiment opposes the positive relationship that crypto industry figures have with Trump, as he was one of the main drivers for the Digital Asset Market Clarity Act, known as the CLARITY Act, which failed to get the necessary votes for cloture in the Senate last month.
But this notion is shared not only by retail investors but also by investors in Trump’s own memecoin and crypto companies.
Morten Christensen, an investor with a sizable TRUMP token holding, stressed that the president’s reputation had suffered and was “not as good as it was when he was running for president.” He became aware of that when attending the second meme coin event in Mar-A-Lago this year, when online reactions to his trip were negative and very different from the ones he received at the first meme coin event in May 2025. “I definitely saw a big shift,” he stated.
Trump’s financial records indicate he has earned at least $500 million from World Liberty Financial token sales, which issued USD1, a dollar-pegged stablecoin with a market capitalization of over $4 billion.