Full Breakdown
Trump Family Distances Itself from Controversial Statue Project
2/4/2026, 9:52:19 AM
Overview of the Statue and Its Funding
The fate of a fifteen-foot-tall statue of Donald Trump, known as "Don Colossus," is uncertain as the Trump family distances itself from the cryptocurrency venture behind it. Funded by cryptocurrency investors to promote a memecoin called $PATRIOT, the statue was intended to be unveiled at Trump National Doral in Miami. Construction began in July 2024, with plans for a pedestal and extensive landscaping. However, the project faced setbacks when Eric Trump publicly disavowed any association with the Patriot Token, stating, "The Trump Organization has no association of any kind with the Patriot Token or meme coin ($PATRIOT)."
Background of the Project
The statue, commissioned by a group of cryptocurrency enthusiasts, was sculpted by Alan Cottrill, who has previously created works for the U.S. Capitol. Cottrill reported that the investors requested alterations to the statue's design to enhance Trump's appearance. Despite initial enthusiasm from Donald Trump, who praised the statue's design, the family's withdrawal may be linked to the launch of a competing memecoin, $TRUMP, shortly before Eric Trump's announcement.
Financial Implications and Conflicts of Interest
The Trump family has reportedly earned at least $867 million from various cryptocurrency ventures, raising concerns about potential conflicts of interest. The $TRUMP memecoin, launched on January 20, 2024, saw a dramatic decline in value, dropping from a peak of $75.35 to $4.86 within a year. This financial downturn has prompted scrutiny regarding the family's involvement in the cryptocurrency market and the implications for their business interests during Trump's presidency.
Criticism and Legal Disputes
Alan Cottrill has expressed frustration over unpaid fees related to the statue, claiming he is owed $90,000 from the total $150,000 contract. He has withheld the statue from being displayed until payment is received. One of the project's backers, Ashley Sansalone, assured that Cottrill would be compensated once the statue is completed. The statue's design has also drawn comparisons to other grand monuments, such as those in North Korea, highlighting the controversial nature of such tributes to political figures.
Official Statements and Responses
The White House has maintained that it is not involved in the cryptocurrency project or the statue's installation. A spokesperson for the Trump Organization stated they were unaware of the memecoin until contacted by media outlets. The Trump administration is, however, involved in planning the upcoming Group of 20 summit, which will be held at Trump National Doral on December 14 and 15, 2024.
Verbatim Quotes
- “The Trump Organization has no association of any kind with the Patriot Token or meme coin ($PATRIOT) referenced below,” — Eric Trump, Vice President of the Trump Organization
- “That statue will not leave my foundry until everything they owe me is paid,” — Alan Cottrill, Sculptor
- “Under any business agreement, there’s always some funds withheld until the finished product is complete,” — Ashley Sansalone, Project Backer
Conclusion
The situation surrounding the "Don Colossus" statue reflects broader issues of financial interests and ethical considerations within the Trump family’s ventures. As the project faces uncertainty, it raises questions about the intersection of personal profit and public service, particularly in the context of the upcoming G20 summit.
