Hunter Biden said the Trump family’s business dealings around World Liberty Financial make the accusations against him look like a “speed bump” compared with the “Mount Everest of corruption” he says they are involved in. He made the remarks in an episode of Laura Shin’s show that streamed Wednesday.
Shin asked Biden about an August post on X in which he wrote, “The Trump family’s business, World Liberty Financial, is corruption at a scale we’ve never seen.” She noted that the post compared World Liberty’s borrowing against its own token with how FTX operated before it collapsed.
Biden widened the focus beyond World Liberty
Biden said the issue goes beyond World Liberty itself and extends to the rest of the Trump family. He urged listeners to look at each family member individually, review what each has done as reported publicly, and compare that record with the accusations made against him.
“I literally did no business other than sell paintings while my dad was President of the United States,” Biden said.
Earlier in the interview, Biden said every move Trump has made in crypto has been for his own benefit, not for the community, not for cryptocurrency as a whole, and not for policy.
World Liberty’s business footprint
Trump’s 2025 financial disclosure shows about $592 million from World Liberty token sales and equity. That figure was part of roughly $1.4 billion in crypto income.
An entity backed by the UAE’s national security adviser agreed to pay $500 million for a 49% stake in World Liberty, according to The Wall Street Journal, as cited by Fortune.
The company’s trust arm also won preliminary conditional approval for a national trust charter from the Office of the Comptroller of the Currency in August.
In April, World Liberty borrowed about $75 million against its own token on Dolomite. The company said at the time that it was nowhere near liquidation and would simply add more collateral if needed.
Justin Sun’s lawsuit
Tron founder Justin Sun, who says he invested $45 million in WLFI tokens, is suing World Liberty and alleges that the company secretly froze his tokens.
At the joint request of both parties, a federal judge paused the case on Tuesday until Oct. 22 over a jurisdiction question.
World Liberty has called Sun’s claims meritless. It has also filed its own defamation suit against him in Florida state court.
Biden on LAPTOP and the TRUMP memecoin
Explaining why he launched his own memecoin, LAPTOP, Biden said Trump presented himself as the “crypto king” but has done more harm than good to the crypto community.
Biden said the cardinal sin was that the money came from Trump’s most devoted followers. “Trump literally took the money out of their pockets and put it into his own,” he said. “I can’t believe that a sitting president of the United States, let alone anyone, would do that.”
TRUMP token concentration, losses, royalties, and price
TRUMP launched on Jan. 17, 2025, three days before the president’s inauguration. According to the token’s website, CIC Digital, a Trump Organization affiliate, and Fight Fight Fight LLC together own 80% of the supply, with tokens unlocking over three years.
NBC News reported in July that about 1 million wallets have net losses totaling $4.5 billion on the token.
Trump reported $635 million in 2025 royalty income from a licensing agreement with Celebration Coins, which NBC News described as a group that specializes in memecoins bearing his name.
TRUMP traded near $2.18 on Wednesday, down 97% from its January 2025 peak.