Around the time that Donald Trump took office, the Trump Organization made moves to sell a stake in one of the president’s crypto companies.

That revelation was buried in a letter that an independent monitor overseeing the president’s business submitted to a New York judge last month. The letter noted that the Trump Organization had repurposed an old entity to enter into an agreement related to World Liberty Financial, a decentralized-finance project that sold at least $550 million of crypto tokens, much of it in a mania-fueled blitz leading up to the inauguration.

“In January 2025, the…