$300M Bitcoin & TRUMP Bet by China-Linked Firm Sparks Ethics Firestorm

The May 11 SEC filing marks a dramatic pivot for the company, which reported zero revenue last year and employs just eight people.

The announcement comes at a politically sensitive time: President Trump is weighing a TikTok ban, even as GDC claims to operate its e-commerce business through the platform. Just weeks earlier, the president hosted a private gala for top TRUMP holders, offering exclusive access — including a meeting with the president — to the top 25 wallet owners.

Critics warn this could blur ethical lines and financially benefit the Trump family, especially as the TRUMP token trades on speculative fervor.

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Offshore Funding Raises Transparency Flags

GDC’s filing discloses that funding for the crypto purchases will come from a private stock placement to an unnamed entity in the British Virgin Islands — a region frequently cited for tax avoidance and limited disclosure rules. The move sidesteps U.S. investor protections and raises red flags about regulatory oversight and potential foreign influence.

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