Trump Discloses $600M Crypto Income in Filing

Ethics watchdogs said the scale of the holdings creates a conflict-of-interest question. “The president has a personal financial stake in the very industry his administration would regulate,” said Virginia Canter, chief ethics counsel at Citizens for Responsibility and Ethics in Washington. “That is unprecedented.”

Trump's business entities are structured as trusts. He retains the right to withdraw funds at any time, the filing notes. He has not committed to divesting his crypto holdings while in office.

The disclosure covers the 12 months through March 2025. The next filing, due in 2026, will show whether the income stream continued after Trump returned to the White House.

World Liberty Financial has drawn scrutiny from state regulators over its token sale structure. The platform sold WLFI tokens to accredited investors in a private placement that raised $300 million. Some state securities officials have questioned whether the token constitutes an unregistered security. The platform has said it complies with all applicable laws.

Trump's NFT collections have also faced legal questions. A class-action lawsuit filed in New York in 2023 alleged the NFTs were unregistered securities. A federal judge dismissed the suit in 2024, ruling that the NFTs were collectibles, not investment contracts. The plaintiffs have appealed.

The filing does not break out Trump's personal crypto trading activity. It lists a “crypto wallet” holding between $250,000 and $500,000 in digital assets. It does not specify which tokens.

Trump's sons Eric and Donald Jr. manage the day-to-day operations of the family's crypto ventures. The filing notes that neither son holds a direct financial stake in the platforms they oversee.

For more on how Trump's holdings create regulatory risk, see Trump's Crypto Holdings: $2.3B and a Regulatory Risk.