Trump reports over US$1.4bn in crypto income, raising fresh ethics scrutiny

US President Donald Trump reported more than US$1.4 billion in income from his family’s cryptocurrency ventures last year, according to his latest financial disclosures, intensifying political scrutiny over the overlap between his presidency, business interests and the rapidly expanding digital-assets industry.

The annual disclosure for 2025, filed with the US Office of Government Ethics, showed that companies linked to Trump received nearly US$800 million from World Liberty Financial, a crypto business he co-founded with his sons. That figure included more than US$520 million from token sales and over US$250 million from the sale of interests in the business, Reuters reported.

Trump also reported US$635 million in income from sales of his Trump-branded meme coins, underlining the scale of his family’s shift into digital assets since he returned to office in 2025. Reuters said it had previously estimated that the Trump family had made at least US$2.3 billion from crypto-related projects since his return to the White House.

Crypto becomes major source of Trump income

The disclosures show that cryptocurrency has become one of the biggest drivers of Trump’s reported income, overtaking many of the traditional property and hospitality businesses long associated with his brand.

The rise in crypto-related earnings comes as Trump’s administration has pursued policies welcomed by parts of the digital-assets sector, including new federal rules for stablecoins and a softer enforcement approach by agencies such as the Justice Department and the Securities and Exchange Commission, according to Reuters.

The White House rejected suggestions of a conflict of interest. A spokesperson said Trump and his family had not engaged in conflicts and argued that his administration’s actions were aimed at making the United States a global centre for cryptocurrency.

Ethics questions return to centre stage

The disclosure is likely to renew debate in Washington over presidential ethics rules, particularly because Trump’s business interests are overseen by his children while he remains the beneficiary of assets held in a trust that receives income from those businesses.

Don Fox, a former acting head of the federal ethics office, told Reuters that presidents and vice presidents are exempt from some conflict-of-interest laws that apply to other executive branch employees, but said Trump’s approach had broken sharply with post-Watergate norms.

The issue has political significance beyond Trump’s personal finances, as it touches on whether elected leaders should be allowed to hold or benefit from assets in industries that can be directly affected by their own policy decisions.

Traditional businesses still bring in millions

Trump’s older businesses also continued to generate large revenues. His golf and resort facilities reported a 15% increase in revenue to just over US$500 million in 2025, with Mar-a-Lago in Florida rising to US$77 million from US$50 million the previous year.

The president also reported more than US$80 million from settlements with media companies and US$52 million from licensing his name to overseas property developers, with the latter driven mainly by deals involving Middle Eastern partners, Reuters said.

A spokesperson for the Trump Organization said the nearly 1,000-page filing showed a high level of transparency, while World Liberty Financial declined to comment, according to Reuters.

Source: Reuters