President Donald Trump reported more than $1.4 billion in income from his family's crypto ventures in his 2025 annual financial disclosure, according to a review by Reuters on Tuesday. The filing with the U.S. Office of Government Ethics reveals that digital assets now account for the majority of Trump's income, benefiting from policies he enacted after returning to the White House.
World Liberty Financial and Meme Coin Sales Drive Income
Trump's companies received nearly $800 million from World Liberty Financial, a crypto venture he co-founded with his sons. This included over $520 million from sales of crypto tokens and more than $250 million from the sale of interests in the business. Additionally, Trump reported $635 million from sales of his Trump meme coins. In contrast, his 2024 disclosure showed only $57.35 million from World Liberty token sales, a ninefold increase in one year. Reuters estimates the Trump family has made at least $2.3 billion from crypto-related projects since 2025.
Policy Changes Benefiting Crypto Industry
Upon taking office in 2025, Trump implemented federal rules for stablecoins and reduced enforcement by the Justice Department and Securities and Exchange Commission, moves the crypto industry viewed as favorable. White House spokesperson Anna Kelly stated, "Neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest. President Trump proudly made the United States the crypto capital of the world through executive actions." She added that any contrary reporting is a "false narrative" pushed by Democrats and legacy media.
Other Income Sources: Media Settlements and Licensing
Trump also reported over $80 million from settlements with media companies and $52 million from licensing his name to overseas property developers, mainly in the Middle East. His traditional businesses, particularly golf courses and resorts, continued to generate revenue, with a 15% rise to just over $500 million in 2025. Revenue at Mar-a-Lago soared to $77 million from $50 million in 2024, while his West Palm Beach golf club saw a 27% increase. Revenue at his Los Angeles course declined.
Ethics Concerns and Lack of Conflict-of-Interest Rules
While the White House says Trump's business interests are managed by his children, he remains the beneficiary of the trust that receives the income. Don Fox, former acting head of the federal ethics office, noted that presidents and vice presidents are exempt from conflict-of-interest laws. "Every president in the post-Watergate era has managed his finances as though he were subject to conflicts of interest," Fox said. "With Trump, those norms are just totally out the window." He called for additional ethics reforms, such as limiting the types of investments the president can hold.
A spokesperson for the Trump Organization said the nearly 1,000-page filing "underscores our commitment to transparency" and is "one of the most comprehensive financial disclosure reports ever submitted." World Liberty Financial declined to comment.
