U.S. President Donald Trump reported earning more than $1 billion from cryptocurrency-related business activities last year, according to his mandatory 2025 financial disclosure.
The 927-page filing shows Trump received $635 million in royalties from an entity called Celebration Coins, which is believed to be behind the $TRUMP meme coin. He also reported more than $500 million in income from World Liberty Financial, a cryptocurrency company founded by his sons and the children of special envoy Steve Witkoff.
In addition to cryptocurrency earnings, Trump reported millions of dollars in income from real estate and Trump-branded merchandise. His total reported earnings exceeded $2.2 billion, significantly higher than the more than $600 million disclosed in his 2024 filing.
The White House denied that Trump was profiting from the presidency, stating that his businesses are held in a trust managed by his sons.
White House deputy press secretary Anna Kelly said Trump had made the United States "the crypto capital of the world" and added, "Neither the President nor his family has ever engaged - or will ever engage - in conflicts of interest."
She also said, "All actions by President Trump and his administration are taken in the best interest of the American people – and any so-called 'reporters' pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade."
Trump has previously said he is not subject to federal conflict of interest laws. Although he described Bitcoin as a "scam" in 2021 and a "disaster waiting to happen," he later pledged to make the United States the "crypto capital of the planet." After returning to office, he signed an executive order supporting the responsible growth of the cryptocurrency industry.
Richard Painter, former White House ethics lawyer under President George W. Bush, described Trump's reported crypto earnings as "extraordinary," adding, "Of course it's a conflict of interest."
Will Walker-Arnott, director of private clients at Raymond James Wealth Management, said, "His approach, I suppose, is in contrast to previous presidents in terms of money making."
