The controversy comes as the Trump family faces steep declines in its broader crypto portfolio. | Source: Getty Images / Joe Raedle
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Key Takeaways
Donald Trump’s World Liberty Financial drew widespread criticism after endorsing the joke token SPSC.
Influencers like Coffeezilla and traders on X questioned WLFI’s commitment to its stated mission.
The controversy coincides with significant financial losses across the Trump family’s crypto holdings and their company’s Bitcoin portfolio.
World Liberty Financial (WLFI), the crypto project associated with President Donald Trump’s family, faced criticism on Tuesday after publicly endorsing a crude joke token known as “Sh*t P*ss Skin Can” (SPSC).
The endorsement comes as the Trump family’s digital-asset bets have suffered more than $1 billion in losses, including a significant loss of Bitcoin, according to Bloomberg’s Billionaires Index.
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WLFI announced on Monday that it had begun purchasing the SPSC memecoin, a digital token created as a tribute to WLFI co-founder Chase Herro.
Herro is known for a remark he made several years ago claiming that even a can of human waste would sell “for a billion dollars if the story is right.”
Buying $SPSC because the trenches finally found religion in USD1 memes. If they’re gonna make a coin in honor of our WLFI Co-Founder… we’re in 🦅☝️
“Buying $SPSC because the trenches finally found religion in USD1 memes,” the company wrote from its official X account.
The post triggered a rapid speculative rally, with SPSC jumping as much as 143%.
Coffeezilla and Crypto Community Call Out WLFI
The decision sparked immediate backlash from crypto commentators and online traders.
YouTuber and fraud investigator Coffeezilla highlighted WLFI for promoting a coin based on a joke about selling waste in a can.
Coffeezilla criticised WLFI | Source: X
He noted the disconnect between WLFI’s stated mission of “building the future of finance” and its promotion of a meme-based token.
“WLFI, the Trump crypto project ‘building the future of finance’ just promoted ‘sh*t p*ss skin can’ coin,” he wrote.
Other traders on X echoed the criticism, saying WLFI’s endorsement of a shock-value token undermined the project’s credibility.
“They didn’t even put any effort into the post—they just prompted ChatGPT,” one user wrote.
Another added: “Sh*tcoins are so beyond astroturfed it actually makes me want to hurl.”
Trump Family Wealth Hit by Over $1 Billion
The controversy arises as the Trump family faces mounting financial pressure due to steep declines in its broader cryptocurrency portfolio.
According to Bloomberg, the family’s net worth has declined by more than $1 billion in recent months, primarily due to substantial losses in high-risk cryptocurrency investments.
Bloomberg’s analysis shows the family’s wealth dropped from roughly $7.7 billion in early September to about $6.7 billion today.
Trump Media & Technology Group, which previously announced plans to build a crypto treasury, has suffered the most significant losses.
President Trump’s stake in the company has fallen by roughly $800 million since September, along with a significant drop in Bitcoin holdings, according to Bloomberg.
“Its stockpile of roughly 11,500 Bitcoins, purchased when the cryptocurrency’s price was about $115,000, means the company has accumulated a loss of about 25 percent on the position,” Bloomberg reported.
A World Liberty Financial spokesperson told Bloomberg that the company remained dedicated to its long-term mission.
“Crypto is here to stay,” he said. “World Liberty Financial has long-term conviction in the rapidly maturing technologies underpinning digital assets, which we believe will radically improve financial services.”
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
