Trump's Crypto Flip: From Scam to 'Flagrantly Corrupt' Family Business
Last Week Tonight host John Oliver recently exposed what he sees as a worrying lack of ethics in President Donald Trump's family cryptocurrency businesses. According to Oliver, Trump has undergone a 'pretty significant change of heart' towards crypto since 2021, after previously calling it a 'scam' and a 'disaster waiting to happen.' However, this shift may be motivated by personal gain, as Trump's income reportedly surged to $2.2 billion in 2025, largely due to his family's involvement in the speculative asset.
Oliver highlighted the absurd number of crypto-related ventures undertaken by the Trump family and questioned whether President Trump was truly unaware of deals that could put millions into his sons' pockets. The host emphasized that it appears Trump is exploiting 'crypto sketchiness for maximum profit,' while also making it easier for others to do the same.
The SEC under Joe Biden had likened crypto to the 'Wild West,' but since Trump returned to office, more than 60% of ongoing crypto cases have been eased up. The administration is now pushing for the Clarity Act, which would shift crypto out of the SEC's purview and into the Commodity Futures Trading Commission's, a move Oliver believes would aid Trump in his pursuit of profit.