Trump-Linked Bank Dominari Launches Crypto Advisory Board to Drive Expansion

Dominari Holdings, a Trump-linked investment firm based in Trump Tower, announced Tuesday the launch of a new Crypto Advisory Board to guide its expansion into digital assets.

The board will advise Dominari on acquisitions and partnerships in the digital asset space and will operate alongside its broader Advisory Board, according to a press release.

Its inaugural members include Sonny Singh, a former BitPay executive, and Tristan Chaudhry, a blockchain entrepreneur.

Ex-BitPay Exec Sonny Singh Joins Dominari Crypto Board

Singh, who has been active in crypto since 2012, co-founded education platform Beluga and previously helped BitPay secure the New York BitLicense, launch the first crypto debit cards with Visa and Mastercard, and raise more than $70 million from backers including Founders Fund and Sir Richard Branson.

Chaudhry, an early investor in Litecoin and Dogecoin, has since developed several DeFi protocols, founded Heroes of Mavia in 2024, and is currently building Polyester, a cross-chain decentralized exchange.

“We believe the crypto ecosystem represents one of the most significant long-term opportunities in global finance,” said Anthony Hayes, CEO of Dominari.

“Digital assets are no longer at the edge of finance – they are moving into the center. Dominari’s expansion into this space aligns with our mission to identify transformative opportunities and bring them into the mainstream for Dominari shareholders and clients.”

Dominari’s pivot into crypto is the latest chapter in a long transformation. Originally a biotech company called Spherix, later AIkido Pharma, the firm abandoned years of losses in drug research in 2021 and reinvented itself as an investment vehicle.

🚨JUST IN: yet another company, Dominari Holdings $DOMH announces to adapt the Bitcoin treasury strategy.

Dominari Holdings has $2 million in $IBIT and expects to further add to its alternative coin treasury by year end. pic.twitter.com/A7FfU0Wg6p

— NLNico (@btcNLNico) March 28, 2025

Hayes brought in veteran banker Kyle Wool, and the two relocated operations to Trump Tower, forging ties with Donald Trump’s sons, Eric and Don Jr.

Golf outings and proximity soon turned into business partnerships. Both sons invested $1 million each into Dominari stock, becoming advisers and lending the firm credibility.

That relationship opened doors to ventures including American Bitcoin, a mining initiative, and the IPO of a Trump-linked drone manufacturer.

Dominari has since used Trump’s pro-crypto stance to channel funds into Bitcoin ventures, data centers, and partnerships with figures like Tron founder Justin Sun.

The company also launched a SPAC backed by the Trump family, aiming to raise $300 million.

Trump Administration Pushes Pro-Crypto Agenda

The Trump administration advanced its pro-crypto agenda with a series of policy and regulatory moves.

President Trump signed an executive order urging regulators to remove barriers that prevent 401(k) plans from including alternative assets such as cryptocurrencies.

If implemented, the reforms could allow millions of Americans to allocate retirement funds to Bitcoin and other digital assets through regulated channels.

Trump also nominated economist Stephen Miran, a digital asset advocate, to the Federal Reserve Board of Governors, signaling continuity in his administration’s pro-crypto stance.

In a separate executive order, Trump moved to end “debanking” practices that target lawful crypto firms.

The Blockchain Association praised the measures as a “historic shift” that would expand consumer choice, empower wealth-building, and reduce operational barriers for blockchain businesses.