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Trump Rings NYSE and Nasdaq Bells Remotely to Launch Newborn Savings Accounts
President Trump remotely opened trading at the New York Stock Exchange and Nasdaq on Monday to promote new federal accounts that will give each newborn $1,000 in savings funded by public money and private donations. The same week he unveiled a meme coin tied to his image.
Jul 12, 8:24 AM·1m read3 sources
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President Trump rang the opening bells of the New York Stock Exchange and Nasdaq exchanges remotely from the Oval Office on Monday morning to promote the launch of “Trump accounts,” which will use federal money and private donations to start newborns with $1,000 in savings.
The same week, Trump unveiled a meme coin featuring an image of his fist pump after the Butler, Pennsylvania assassination attempt.
The Independent reported that Trump made more than $1.4 billion through his family’s cryptocurrency venture in 2025. The Trump family launched World Liberty Financial in the fall of 2024. The $TRUMP meme coin lost 97 percent of its value from its January 2025 peak.
Fatime Elrgdawy, a 29-year-old software project engineer from California, invested $2,000 in $TRUMP coin; within five months the investment was worth less than $120. The Independent reported that roughly two-thirds of buyers of Trump’s meme coin have lost money and that losses by buyers totaled $3.81 billion as of late June.
Eighty-five percent of buyers in one of World Liberty’s tokens are in the red.
The UAE received approval last year to import advanced American AI chips. MGX, one of the Abu Dhabi royal’s firms, used $2 billion in a World Liberty coin in a recent investment and is now among the owners of TikTok’s U.S. Operations. The Trump administration spent months pressuring TikTok to spin off an American subdivision.
Last Thursday, Trump told CNBC: “I could know about it. I didn’t. ” The president’s financial disclosures show his crypto-related income regardless of market cycle.
