US President Donald Trump made more than $1bn (£750m) from cryptocurrency business deals last year, according to mandatory financial reports for 2025.
In a 927-page disclosure, he reported receiving $635 million in royalties from the Trump meme coin, which has plummeted in value since its launch just days before the inauguration.
He also reported earning more than $500 million from World Liberty Financial, a cryptocurrency company founded by his son and envoy Steve Witkoff’s children.
He made millions more from real estate and Trump-themed items. But the White House denied he was profiting from his presidency.
The income from his latest financial disclosure far exceeds his previous income from 2024, when Trump disclosed income of over $600 million.
However, the White House, which has repeatedly emphasized that President Trump entrusted his business to a trust managed by his sons, again denied any conflict of interest.
White House deputy press secretary Anna Kelly said the president was proud to have made the United States the “crypto capital of the world.”
“Neither the President nor any member of his family has ever engaged in, nor will any member of his family engage in, a conflict of interest,” she said in a statement.
“Every action by President Trump and his administration has been taken in the best interest of the American people,” she said, adding, “Any so-called ‘journalists’ who push otherwise are just recycling the same tired, false narratives that Democrats and the establishment media have been pushing for a decade.”
The president himself has emphasized that he is not subject to federal conflict of interest laws.
Trump has criticized cryptocurrency, calling Bitcoin a “scam.” in 2021 And “a disaster waiting to happen.”
But three years later, during his presidential campaign, Trump said he wanted to make the United States the “crypto capital of the Earth.” When he returned to the White House last year, one of his first actions was an executive order to “support the responsible growth” of the cryptocurrency industry.
Richard Painter, a former White House ethics lawyer under President George W. Bush, told the BBC that it was “unusual” that Trump had made $1 billion from cryptocurrency.
“Of course it’s a conflict of interest,” he said.
“I think his approach contrasts with previous presidents in terms of making money,” said Will Walker-Arnott, director of private clients at Raymond James Financial Group.
“Jimmy Carter held his peanut farm in blind trust and George W. Bush sold his stake in the Texas Rangers before becoming president. But Trump appears to be operating in a very different way, and appears to be making a lot of money through this family cryptocurrency company.”
