“Donald Trump once dismissed cryptocurrency as a ‘scam’. Now, according to his latest financial disclosure, digital assets have become the biggest source of income in his return to public office.”
US President Donald Trump earned more than $1 billion from cryptocurrency-related businesses during his first year back in the White House, according to his mandatory 2025 financial disclosure, a report that is already renewing debate over ethics and potential conflicts of interest.
The disclosure, which runs to 927 pages, shows Trump received about $635 million in royalties from his Trump meme coin, despite the token losing much of its value since it launched just days before he returned to office.
He also reported more than $500 million in income from World Liberty Financial, the cryptocurrency company founded by his sons alongside the children of his special envoy, Steve Witkoff.
Together, those crypto ventures generated far more income than Trump’s traditional real estate empire, which for decades had been the foundation of his personal wealth.
The filing also reveals earnings from golf clubs, branded merchandise, legal settlements and licensing agreements.
According to the disclosure, Trump earned about $122 million from his golf resort in Doral, Florida, while his Mar-a-Lago club generated another $77 million.
His golf properties in Bedminster, Jupiter, and Turnberry also produced tens of millions of dollars in income.
Beyond property, Trump reported millions more from products carrying his name, including watches, Bibles, trainers, guitars and fragrances.
The White House dismissed suggestions that the president’s business activities create a conflict of interest.
Deputy Press Secretary Anna Kelly said Trump had delivered on his promise to make the United States a global leader in digital assets.
“Neither the President nor his family has ever engaged or will ever engage in conflicts of interest.”
She added:
“All actions by President Trump and his administration are taken in the best interest of the American people.”
Trump has also repeatedly argued that federal conflict-of-interest laws do not apply to the president.
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His embrace of cryptocurrency marks a dramatic shift from his earlier position.
In 2021, Trump described Bitcoin as a “scam” and warned that cryptocurrencies were “a disaster waiting to happen.”
During his return to politics, however, he reversed course, promising to make America “the crypto capital of the planet.”
After taking office, he signed an executive order supporting the growth of the cryptocurrency industry before later approving the GENIUS Act, legislation aimed at expanding the digital asset sector in the United States.
Not everyone believes the arrangement is appropriate.
Richard Painter, who served as the chief ethics lawyer in the White House under President George W. Bush, questioned whether Trump’s business interests can truly be separated from his official responsibilities.
“Of course it’s a conflict of interest.”
He described the scale of Trump’s cryptocurrency earnings as “extraordinary.”
Investment adviser Will Walker-Arnott said Trump’s approach differs sharply from previous American presidents.
“Jimmy Carter put his peanut farm into a blind trust and George W Bush sold his interest in the Texas Rangers before becoming president, but Trump seems to be operating in a very different manner.”
The financial report also includes income earned by First Lady Melania Trump.
She disclosed $10.7 million from a licensing agreement connected to a documentary about her life, along with another $6 million from the sale of NFTs, or digital collectibles.
Trump additionally reported receiving $86.5 million through settlements in several legal disputes involving companies including ABC, CBS, Meta, YouTube, and X.
The White House said most of those funds would be directed toward Trump’s future presidential library or a nonprofit responsible for maintaining public park sites in Washington.
The disclosure highlights just how much Trump’s financial profile has changed since returning to office.
Once known primarily as a real estate developer, the president now appears to earn a substantial share of his wealth from cryptocurrency, a sector his administration has actively promoted while continuing to reject accusations that his private business interests influence government policy.
