Trump’s $1.4 billion crypto fortune sparks outrage: ‘His endless greed is disgusting’ | Today’s news
“Crypto legislation heading to the Senate floor must prevent the president and his family from further profiting from cryptocurrencies,” said Warren, a Democratic senator from Massachusetts.
Illinois Lieutenant Governor and Democratic Senate candidate Juliana Stratton also criticized the president, writing on X: “Donald Trump is using the office of the presidency to make billions while American families struggle to provide for their basic needs. His endless greed is disgusting.”
The reactions came after Trump’s annual financial disclosures filed with the U.S. Office of Government Ethics showed, according to a Reuters report, that cryptocurrency has become his biggest source of income, benefiting from an industry that has seen favorable political changes under his administration.
Crypto dominates Trump’s income
According to filings, Trump’s companies received nearly $800 million from World Liberty Financial, a cryptocurrency venture he co-founded with his sons. Revenues included more than $520 million from the sale of crypto tokens and more than $250 million from the sale of ownership stakes in the business.
The president also reported $635 million from the sale of his Trump meme coins, bringing his total reported cryptocurrency-related income for the year to over $1.4 billion.
The latest disclosure marks a sharp increase from the previous year, when Trump announced $57.35 million in World Liberty token sales.
The White House denies allegations of a conflict of interest
Responding to the criticism, White House spokeswoman Anna Kelly denied any conflict of interest.
“Neither the president nor his family have ever engaged — and will never engage — in a conflict of interest. President Trump has proudly made the United States the crypto capital of the world through executive action,” Kelly said.
She added that all decisions made by the administration were in the best interest of the American people and dismissed the allegations as a “false story.”
The White House has previously said that Trump’s business interests are managed by his children, although the president remains a beneficiary of the trust that receives the income.
Other businesses continue to generate millions
While cryptocurrencies made up the majority of Trump’s earnings, his traditional businesses also posted strong results.
More than $80 million in settlements with media companies.
$52 million from licensing his name to foreign real estate developers, mostly in the Middle East.
More than $500 million in golf course and resort revenue, a 15% increase over 2024.
Sales at Mar-a-Lago rose to $77 million from $50 million a year earlier.
Trump also received a more than $50 million loan from Charles Schwab Bank.
(With inputs from Reuters)
