Reuters reported on June 30 that U.S. President Donald Trump said in his latest financial disclosure document that his family earned more than $1.4 billion in income from cryptocurrency-related businesses last year, showing that digital assets have become his main source of income after he promoted relevant policies.
According to Trump's 2025 annual financial disclosure document submitted to the U.S. Office of Government Ethics, his company received nearly $800 million in revenue last year from World Liberty Financial, a cryptocurrency project he co-founded with his son, including more than $520 million in token sales and more than $250 million in proceeds from the sale of equity in the business. His family members will also share some related gains. Trump also reported that he earned approximately $635 million from the sale of "Trump meme coins" last year.
The latest disclosure documents highlight the reshaping of Trump’s wealth structure by the cryptocurrency business. Compared with the situation disclosed in June last year, when Trump’s token sales revenue in World Liberty was approximately $57.35 million, the same project’s token sales revenue this year has jumped to more than $500 million. Reuters previously estimated that since Trump returned to the White House in 2025, his family has made a cumulative profit of at least US$2.3 billion through various cryptocurrency-related projects.
After taking office as president, Trump has successively launched a number of policies and initiatives that are considered to be beneficial to the encryption industry, including promoting stable currency regulatory rules at the federal level and relaxing the enforcement efforts of the Department of Justice and the U.S. Securities and Exchange Commission on the encryption industry. In addition to his crypto business, Trump also reported earning more than $80 million in settlements with multiple media companies last year, as well as millions of dollars in revenue from his company licensing the "Trump" brand name to overseas real estate developers.
White House spokesperson Anna Kelly said in a statement: "The President and his family have never and will not engage in any conflict of interest." She said that Trump has made the United States "proud to be the cryptocurrency capital of the world" through executive actions. Kelly also criticized some media reports that "so-called journalists" were repeating "old and false narratives" that have been used repeatedly by the Democratic Party and traditional media for ten years, and emphasized that all actions of the Trump administration are "based on the best interests of the American people."
The White House has previously stated that Trump’s business interests are currently managed by his children, but Trump himself is still the beneficiary of the trust assets who ultimately receives related income. While cryptocurrencies have become Trump’s largest source of income, his traditional businesses—particularly golf courses and resort hotels—continue to contribute hundreds of millions of dollars in revenue. Trump disclosed that his golf and resort business revenue will increase by 15% year-on-year in 2025, totaling just over US$500 million. The growth at the properties where he often stays is particularly significant: the revenue of the Mar-a-Lago Club in Florida (called the "Winter White House" by him) soared from US$50 million in 2024 to US$77 million, and the revenue of the nearby West Palm Beach club also increased by 27% year-on-year. In contrast, the revenue of his Los Angeles course declined last year.
Trump held the second "Meme Contest" winner event at Mar-a-Lago in April, further strengthening the binding of his personal brand to cryptocurrency. A spokesman for the Trump Organization said in a statement that the nearly 1,000-page disclosure document "further demonstrates our commitment to transparency" and said the report is "one of the most comprehensive financial disclosures in presidential history" and demonstrates "an unprecedented level of financial transparency."
World Liberty Financial declined to comment on the disclosures. Don Fox, the former acting head of the Office of Government Ethics, noted that under current rules, the president and vice president are exempt from conflict-of-interest laws that apply to other executive branch officials. He said that after the Watergate incident, every president had "tried to abide by conflict of interest norms when managing their personal finances as if these laws also applied to them", but under Trump, these "conventions have been almost completely thrown out the window." Fox believes that Trump "has made the case more forcefully than anyone for the need for stronger ethics legislation" and recommends passing legislation to limit the types of investments the president and vice president can hold to reduce the risk of potential conflicts of interest.