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Trump Denies Knowing About $1.4B Crypto Earnings as CLARITY Act Stalls
Trump said he didn't know about the $1.4B from TRUMP and WLFI tokens. The CLARITY Act odds fell to 41% as Senate faces August recess deadline.
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President Donald Trump said he was not aware of the $1.4 billion in crypto income disclosed in his 2025 financial report. In a CNBC interview, Trump added that there was nothing illegal about knowing, even as critics point to a conflict of interest between his family's crypto ventures and his push for the CLARITY Act.
The disclosure, released earlier this week, showed Trump earned at least $1.4 billion from licensing deals tied to the TRUMP meme coin and WLFI token sales. The president had previously defended his market profits without addressing the crypto income. Now, with his denial, the spotlight shifts back to the stalled bill.
Polymarket odds for Trump signing the CLARITY Act into law this year fell to 41%. The bill, which aims to establish a U.S. crypto regulatory framework, faces opposition from Democrats who cite ethics concerns over the president's personal crypto holdings. The Senate must pass the bill before the August recess, a tight timeline. The CLARITY Act earlier won support from the first law enforcement organization to back the bill, as Senator Lummis targets a July vote. That backing has not been enough to overcome the ethics controversy.