President Trump's financial disclosures reveal roughly $1.2 billion in cryptocurrency-related income flowing to him and his family during his second term, sparking fresh scrutiny over potential conflicts of interest that the White House flatly rejected on Tuesday.
A 927-page filing from the Office of Government Ethics detailed nearly $550 million from Trump's stake in World Liberty Financial, a startup co-founded in September 2024 by his sons and Steve Witkoff's son. The president also collected $635 million in royalties from a licensing deal tied to the $TRUMP cryptocurrency, which launched hours before his inauguration in January.
Principal Deputy Press Secretary Anna Kelly issued a statement saying Trump and his family have "never engaged, or will ever engage, in conflicts of interest." She framed the president's crypto plays as part of his broader economic vision. "All actions by president Trump and his administration are taken in the best interest of the American people," Kelly told AFP, dismissing criticism as recycled Democratic talking points.
The wealth explosion is dramatic. Forbes estimated Trump's net worth nearly tripled between 2024 and 2026, jumping from $2.3 billion to $6.5 billion, with cryptocurrency holdings accounting for most of the gain. His transformation into a major player in digital assets has coincided with his administration's crypto-friendly regulatory stance.
The disclosures drew criticism from California Governor Gavin Newsom, who posted on social media that while Trump "got richer" from his cryptocurrency ventures, his supporters "got rug-pulled." The jab reflected broader concerns about whether everyday investors in Trump-backed crypto projects would fare as well as the president himself.
Author James Rodriguez: "The scale of these earnings raises legitimate questions about whether a president can simultaneously profit from an industry while setting policy for it, no matter what the ethics office paperwork says."
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