- Trump Jr. invests $4M+ in struggling crypto-focused app Thumzup
- Thumzup pivots to Bitcoin, now holds over $2M in crypto
- Trump family’s crypto ties grow, raising conflict concerns
Donald Trump Jr. has invested in Thumzup Media Corp., a struggling social media startup with just $151 in quarterly revenue but ambitions to become a crypto-heavy treasury operation. The company recently pivoted to holding Bitcoin, amassing over $2 million in digital assets as it plans to expand into six additional cryptocurrencies.
A new regulatory filing disclosed Wednesday revealed Trump Jr.’s purchase of 350,000 shares, valued at over $4 million at the last closing price of $12.36 per share. According to Bloomberg, the investment came on the advice of a financial adviser, and Trump Jr. has no active role in the company.
Thumzup’s Bitcoin bet amid financial turmoil
Thumzup, based in Los Angeles, reported a $2.2 million loss in Q1 2025. Its app pays users for product recommendations posted on Instagram, but its business model has yet to show traction. Despite its financial struggles, the company’s stock surged nearly 75% over four trading sessions before sliding 17% on Wednesday.
The company’s new crypto-first strategy began in January when it announced it would convert the majority of its liquid holdings into Bitcoin. Since then, it has accumulated over $2 million in BTC and now plans to allocate capital into six more cryptocurrencies using proceeds from a recent $6 million private placement arranged by Dominari Securities.
Trump Jr.’s investment came through that same placement. He and his brother Eric Trump both serve as advisors to Dominari’s parent company.
Crypto, controversy, and the Trump brand
The move further cements the Trump family’s growing footprint in the crypto world. Donald Trump himself has gone from crypto critic to cheerleader, pledging to support blockchain innovation and make the U.S. “the crypto capital of the world.” His ventures including meme coins like $TRUMP and $MELANIA, NFT deals, and investments through World Liberty Financial have reportedly generated nearly $1 billion in revenue.
Still, the family’s expanding crypto ecosystem has drawn attention from watchdogs and critics who warn of blurred ethical lines, possible insider arrangements, and links to controversial investors.
