Donald Trump earned more than $1.4bn (£1.05bn) from cryptocurrency ventures in his first year back in the White House, according to his mandatory financial disclosure — a sum that dwarfs his income from real estate, branded watches and golf resorts.
The 927-page report, released by the US Office of Government Ethics, shows the US president’s total income last year was at least $2.2bn. But the crypto-related earnings alone accounted for $1,430,390,415, including $635m in royalties from Celebration Coins — the entity believed to be behind the $TRUMP meme coin — and more than $500m from World Liberty Financial, a cryptocurrency firm founded by his sons and the children of his special envoy, Steve Witkoff.
“Donald Trump earned over $1.4bn from cryptocurrency ventures in his first year back in office, financial disclosures show.”
The figures provoked immediate condemnation from Democratic figures. Elizabeth Warren, the top Democrat on the Senate banking committee, said the disclosures showed why Congress needed to act. “The crypto legislation heading to the Senate floor must prevent the president, vice-president, senior administration officials, members of Congress, and their families from profiting off the crypto industry,” Warren said. “If it does not, it will only turbocharge Donald Trump’s brazen crypto corruption.”
Juliana Stratton, the Illinois lieutenant governor, wrote on social media that Trump’s “infinite greed is disgusting”, adding that he “uses the office of the president to make billions while American families struggle to afford their basic needs”. Gavin Newsom, California’s governor, said the disclosures “showed exactly” how Trump played his crypto cards. “He got richer,” Newsom said. “His crypto supporters got rug-pulled.” Tim Walz, Minnesota’s governor and the 2024 Democratic vice-presidential nominee, called Trump “the most corrupt president in American history”.
Trump himself waved off the scrutiny. “I made a lot of money before I became president,” he told reporters on Wednesday, adding that he was profiting because “the stock market’s going up, everybody’s profiting”. He said he does not get involved with his personal finances, which are managed by funds.
The White House denied any conflict of interest, reiterating that Trump’s businesses are in a trust run by his sons. Deputy press secretary Anna Kelly said the president had “proudly made the US the crypto capital of the world” and that “neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest”.
Trump once criticised cryptocurrency, calling Bitcoin a “scam” in 2021 and a “disaster waiting to happen”. But during his presidential campaign three years later, he promised to make the US “the crypto capital of the planet”. One of his first acts after returning to the White House was an executive order to support the industry’s “responsible growth”.