The new business venture by the Trump family is generating intensifying criticism and ethics questions, even as it has turned into an overnight phenomenon, generating a windfall on paper.

Trump's embrace of cryptocurrency could mark a change from the regulatory hammer that has fallen on crypto companies under the Biden administration.

President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.