World Liberty Financial (WLFI), the crypto project linked to President Donald Trump’s family, came under fire on Tuesday after publicly endorsing a vulgar joke Token called “Sh t P ss Skin Can” (SPSC).
The move comes as the Trump family's digital asset investments have suffered more than $1 billion in losses, including significant losses from Bitcoin, according to the Bloomberg Billionaires Index.
WLFI buys SPSC
WLFI announced on Monday that it has begun purchasing memecoin SPSC, a digital currency created as a “tribute” to WLFI co-founder Chase Herro.
Herro is known for a statement years ago in which he suggested that even a can of human waste could sell “for a billion dollars if the story was good enough.”
“Buy $SPSC because the mining community finally found 'religion' in USD1 meme ,” the company wrote on its official X account.
The post triggered a rapid speculative rally, with SPSC rising as much as 143%.
Coffeezilla and the crypto community criticize WLFI
The decision sparked immediate backlash from cryptocurrency commentators and online traders.
YouTuber and fraud investigator Coffeezilla has criticized WLFI for promoting a coin based on a joke about selling “waste in a can.”
He also pointed out the contradiction between WLFI's stated mission of “building the future of finance” and promoting a meme -like Token .
“WLFI, Trump's crypto project 'building the future of finance' just promoted a coin 'sh t p ss skin can',” he wrote.
Many other traders on X have expressed similar opinions, arguing that WLFI's support for such a shocking Token has undermined the project's credibility.
“They didn't even put any effort into the post — just typed the command into ChatGPT,” one user commented.
Trump family fortune lost more than $1 billion
The controversy comes as the Trump family faces growing financial pressure due to a sharp decline in its overall cryptocurrency portfolio.
According to Bloomberg, the family's net worth has dropped by more than $1 billion in recent months, largely due to significant losses from high-risk crypto investments.
Bloomberg analysis shows the family's fortune has fallen from about $7.7 billion in early September to about $6.7 billion now.
Trump Media & Technology Group, which had announced plans to build a “crypto treasury,” was the hardest hit.
According to Bloomberg, President Trump's ownership stake in the company has dropped by about $800 million since September, along with a significant drop in his Bitcoin holdings.
“The company’s stockpile of about 11,500 Bitcoins, purchased when the cryptocurrency was worth around $115,000, means it is now sitting on a loss of about 25% on that position,” Bloomberg reported.
A World Liberty Financial spokesman told Bloomberg that the company remains steadfast in its long-term mission.
“Crypto is the future and it is here to stay,” he said. “World Liberty Financial has long-term faith in the maturing underlying technologies of digital assets, which we believe will dramatically transform financial services.”
