Bessent dismisses concerns over Trump’s billion-dollar cryptocurrency earnings: ‘I don’t think it’s an appearance problem’ | Today’s news
US Treasury Secretary Scott Bessent said he doesn’t believe President Donald Trump’s recent disclosure of billions in cryptocurrency earnings poses a problem for the leader, Bessent said in an interview with CBS News on Thursday.
“I don’t think there’s an appearance issue,” he said, referring to Trump’s earnings from the digital asset.
The remarks come after a financial disclosure released earlier this week showed that Trump reported making around $1.4 billion in 2025 from investments linked to cryptocurrencies and memecoins.
Democrats report conflict of interest concerns
Democrats in Congress criticized Trump’s cryptocurrency windfall, saying it represented a conflict of interest as his administration sought to loosen regulations on cryptocurrencies, CBS News reported.
During his presidency, Trump reportedly pushed a pro-cryptocurrency agenda, saying the United States should become the “crypto capital of the world” by loosening regulations, creating a strategic bitcoin reserve, and promoting the use of dollar-backed stablecoins.
Read also | ‘His endless greed is disgusting’: Democrat blasts Trump’s crypto billions
“This is an innovative presidency,” Bessent told the television station. “So whether it’s digital access, AI, whether it’s everything that’s happening in the technology ecosystem, all Americans benefit.”
White House spokeswoman Anna Kelly told CBS News on Tuesday that there were “no conflicts of interest” in the disclosure.
Breakdown of Trump’s Crypto Asset Earnings
Trump’s holdings include his $TRUMP “meme coin” and income from World Liberty Financial, a cryptocurrency company backed by the president and his family, according to his financial disclosure filings.
The president said he earned about $594 million from World Liberty Financial and about $636 million in revenue from his memecoin business. He also made nearly $197 million from the sale of shares in stablecoin Holdco.
Trump claims he is not fully aware of the size of his crypto investments
While some critics have raised concerns about a potential conflict of interest, Trump claimed Thursday that he was not fully aware of the size of his family’s cryptocurrency holdings. He also claimed that his association with crypto businesses was completely legal after disclosing significant profits from the family’s digital asset businesses.
“I could have known about it. I didn’t know,” Trump mentioned in an interview at the White House.
Read also | Trump made $1.4 billion from cryptocurrencies, just $26 million from real estate deals
He also told CNBC, “I’ve always made money. I’m a businessman. I’m a really good businessman. I’ve made money. I’ve made a huge amount of money.”
When asked about the billions of dollars he’s made from cryptocurrency ventures, Trump dismissed concerns about a potential conflict of interest, in line with what Bessent also said during an interview with CBS News.
“The way I look at cryptocurrencies is a little different. We have to be on top or China will take over,” he said.
The US president also said that he does not personally manage his crypto investments, stating that they are managed on his behalf. He added that he was not aware of the identity of the investors involved.
“I let people invest it. I don’t even talk to them — I don’t even know who they are. My son Eric handles it. I don’t talk to him about things like this,” he continued.
