Throughout his business career, Donald Trump sought new ways to leverage his name to make easy money. He ran an airline, a university and a winery. Thanks to the Apprentice show that made him a reality TV star, the US president slapped his name on real estate projects around the world built by other companies – along with Trump-branded steaks, vodka, deodorant and bottled water. Many of these businesses ultimately failed, but Trump rarely invested his own funds and he still walked away with hefty licensing fees.

Today, as the most powerful person in the world, Trump has found perhaps the easiest way to profit off his name: cryptocurrency. Days before his inauguration for a second term on 20 January, Trump’s family business launched a meme coin, called $Trump, which is a type of digital currency often connected to an online joke or mascot. It has no inherent value beyond speculation. The coin quickly soared in value up to $75 per token, but it crashed days later. No matter the ultimate price, Trump and his family rake in millions of dollars in fees as the coin is traded by speculators hoping to turn a quick profit, or those trying to curry favor with him.

It’s difficult to keep up with all the ways that Trump is corrupting the US presidency and using it for personal profit, but his crypto ventures are among the most dangerous because they potentially allow him and his family to collect hundreds of millions of dollars from foreign investors and governments that would normally have a harder time funneling money to a US politician. Thanks to the memecoin and other deals, the Trump family’s wealth increased by nearly $3bn in the last six months. Trump has proven himself the most successful president – at monetizing the presidency.

While he is exempt from conflict of interest laws that ban federal employees from profiting off their positions, every US president since the 1970s had voluntarily abided by these rules – until Trump. Previous occupants of the White House either sold their financial holdings or set them aside in........

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