--- title: "Trump's Financial Disclosure Shows More Than $1 Billion in Crypto Earnings" description: "President Trump took in more than $1 billion from cryptocurrency ventures in the first year of his second term, according to his own annual financial disclosure filed this week — a windfall that has intensified conflict-of-interest concerns from ethics experts and Democrats, even as the White House insists there is no conflict." category: "U.S." category_url: https://herald.la/category/us author: "Julian Mercado" published: 2026-07-01T01:48:00.000Z updated: 2026-07-01T01:48:00.000Z canonical: https://herald.la/article/trumps-financial-disclosure-shows-more-than-1-billion-in-crypto-earnings tags: ["Donald Trump", "cryptocurrency", "World Liberty Financial", "financial disclosure", "conflict of interest", "ethics"] --- # Trump's Financial Disclosure Shows More Than $1 Billion in Crypto Earnings President Trump took in more than $1 billion from cryptocurrency ventures in the first year of his second term, according to his own annual financial disclosure filed this week — a windfall that has intensified conflict-of-interest concerns from ethics experts and Democrats, even as the White House insists there is no conflict. The disclosure is Trump's own — and it puts a number on how thoroughly cryptocurrency has reshaped the president's fortune. ## The figure Trump's latest federal financial disclosure reports roughly $1.2 billion in cryptocurrency income for the past year, [PBS NewsHour reported](https://www.pbs.org/newshour/politics/trump-took-in-about-1-2-billion-from-crypto-businesses-last-year-financial-disclosure-shows), with some analyses putting the total higher. Crypto has, by these figures, overtaken real estate as the single largest source of his income, and outside estimates of his net worth have risen sharply. The money came primarily from two ventures. ## The memecoin and the family firm The first is a Trump-branded memecoin, $TRUMP, launched days before his January 2025 inauguration through an affiliated entity that held most of the coin's supply; the disclosure reports hundreds of millions of dollars in royalties from it, per PBS. The coin spiked at launch, then fell far from its peak, and analysts estimate ordinary buyers collectively lost billions — figures the Herald attributes to blockchain-analytics firms cited in the coverage. In May 2025, the largest $TRUMP holders were invited to a private dinner with the president, an event Democrats denounced. The second vehicle is World Liberty Financial, a Trump-family crypto company that sold governance tokens and launched a dollar-pegged stablecoin, USD1; the filing reports more than $500 million in revenue from it, and reporting has noted a $2 billion USD1 purchase tied to a foreign, government-linked fund that some legal experts said could raise questions under the Constitution's emoluments clause. ## The conflict-of-interest debate Ethics lawyers and Democratic lawmakers argue that a sitting president profiting from an industry his own administration regulates is an unprecedented conflict. Sen. Elizabeth Warren has pressed for an investigation of World Liberty Financial, and House Judiciary Committee Democrats issued a report accusing the family of building a "multi-billion-dollar crypto empire" fueled by "self-dealing." Ethics specialists note that the president, unlike other federal officials, is not covered by the criminal conflict-of-interest statute. ## The White House response The White House rejects the criticism. Press secretary Karoline Leavitt has said neither the president nor his family "have ever engaged, or will ever engage, in conflicts of interest," pointing to Trump's placement of his holdings in a trust managed by his adult sons, [NPR reported](https://www.npr.org/2025/05/22/nx-s1-5407411/white-house-denies-conflicts-of-interest-as-trump-joins-dinner-for-meme-coin-investors); the administration maintains there are "zero conflicts." Donald Trump Jr., a central figure at World Liberty Financial, has dismissed the concerns as politically motivated. ## The policy backdrop The earnings have landed as the administration reversed the previous government's tougher stance toward crypto, easing enforcement and, in some cases, settling or dropping investigations of firms — some of which had ties to Trump-linked ventures. Critics say those policy shifts benefited the same businesses now on his disclosure; the administration has not directly addressed the overlapping timelines. What is not in dispute is the number the president himself reported: more than a billion dollars, in a single year, from an industry he now helps oversee. ## Sources - [Trump took in about $1.2 billion from crypto businesses last year, financial disclosure shows](https://www.pbs.org/newshour/politics/trump-took-in-about-1-2-billion-from-crypto-businesses-last-year-financial-disclosure-shows) - [Trump made over $1 billion on crypto ventures last year, financial disclosures show](https://www.cbsnews.com/news/trump-over-1-billion-on-crypto-ventures-financial-disclosures/) - [White House denies conflicts of interest as Trump joins a dinner for memecoin investors](https://www.npr.org/2025/05/22/nx-s1-5407411/white-house-denies-conflicts-of-interest-as-trump-joins-dinner-for-meme-coin-investors)