US President Donald Trump reported earning more than $1 billion (£750 million) from cryptocurrency-related business activities in 2025, according to his latest mandatory financial disclosure, highlighting the growing role of digital assets in his personal wealth.
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Crypto earnings dominate financial disclosure
The 927-page filing shows Trump received $635 million in royalties from his Trump-themed meme coin, which has lost much of its value since it was launched shortly before he returned to office.
He also disclosed more than $500 million in income from World Liberty Financial, a cryptocurrency company founded by his sons alongside the sons of his special envoy, Steve Witkoff.
The latest filing far exceeds Trump's previous disclosure for 2024, when he reported more than $600 million in income.
White House rejects conflict claims
The White House dismissed suggestions that Trump's crypto ventures create a conflict of interest, noting that his business assets are held in a trust managed by his sons.
Deputy White House Press Secretary Anna Kelly said the president had fulfilled his pledge to make the United States the "crypto capital of the world."
She said neither Trump nor his family had engaged in conflicts of interest and described allegations to the contrary as politically motivated. Trump has also argued that the US president is not bound by federal conflict-of-interest laws.
Trump's embrace of cryptocurrency marks a significant shift from his earlier views. In 2021, he described Bitcoin as a "scam" and a "disaster waiting to happen." During his 2024 presidential campaign, however, he pledged to make the United States the world's leading centre for cryptocurrency. After returning to office, he signed an executive order supporting the responsible growth of the digital asset industry.
Ethics experts raise concerns
Richard Painter, who served as the chief White House ethics lawyer under former President George W. Bush, described Trump's reported crypto earnings as "extraordinary" and said they represented a conflict of interest.
Will Walker-Arnott, director of private clients at Raymond James Financial Group, said Trump's approach differed sharply from previous presidents.
He noted that former President Jimmy Carter placed his peanut farm into a blind trust, while George W. Bush sold his ownership stake in the Texas Rangers baseball team before taking office. Walker-Arnott said Trump appeared to be taking a very different approach by continuing to generate substantial income through family-linked cryptocurrency businesses.
Real estate and branded products add millions
Although cryptocurrency generated the largest share of Trump's reported income, his real estate holdings continued to produce significant earnings.
The filing shows he earned about $122 million from his golf resort in Doral, Florida, and approximately $77 million from his Mar-a-Lago club. His golf clubs in Bedminster, New Jersey, Jupiter, Florida, and Turnberry, Scotland, each generated more than $30 million.
Trump also received millions in royalties from branded merchandise, including watches, Bibles, trainers, fragrances and guitars. The disclosure lists $4.7 million from Trump-branded watches alone.
First Lady Melania Trump reported $10.7 million from a licensing agreement linked to a documentary about her released last year, along with $6 million from the sale of non-fungible tokens (NFTs).
Trump also disclosed $86.5 million from legal settlements involving several media and technology companies. The White House said most of those funds would support Trump's future presidential library or a nonprofit responsible for maintaining park sites in the Washington area.
According to Forbes, Trump's estimated net worth has risen to $6 billion, up from $2.3 billion in 2024, while Bloomberg estimates it at $7.6 billion. His filing, at more than 900 pages, is substantially longer than those of previous presidents. Former President Joe Biden's final full-year disclosure, for comparison, was 11 pages long.
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Adapted by ASEAN Now. Source 1 July 2026
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