President Donald Trump made more than $1 billion from cryptocurrency business dealings in his first year back in office, according to his mandatory financial disclosure for 2025. The 927-page report reveals $635 million in royalties from a Trump-branded meme coin that launched days before his inauguration—a token that has since plunged in value—and more than $500 million from World Liberty Financial, a cryptocurrency firm founded by his sons and the children of his special envoy, Steve Witkoff. The earnings far outpace the $600 million Trump disclosed for 2024. The White House denied any conflict of interest.

The disclosure also details millions more from real estate, Trump-branded watches, Bibles, trainers, fragrances, and guitars. First Lady Melania Trump listed $10.7 million from a documentary licence agreement and $6 million from NFT sales. The president additionally reported $86.5 million in legal settlements, though the White House said most of that money went toward his future presidential library or a nonprofit dedicated to park sites in Washington, DC.

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The Crypto Earnings

The president’s crypto income came primarily from two sources. The Trump meme coin, launched shortly before he returned to office, generated $635 million in royalties. The coin’s value has since fallen sharply. World Liberty Financial, the cryptocurrency firm founded by his sons Donald Trump Jr. and Eric Trump, along with the children of special envoy Witkoff, generated more than $500 million.

Trump once criticised cryptocurrency, calling Bitcoin a “scam” in 2021 and a “disaster waiting to happen.” During his 2024 campaign, he reversed his position, pledging to make the US the “crypto capital of the planet.” One of his first actions upon returning to the White House was an executive order to “support the responsible growth” of the crypto industry. In July, he signed the GENIUS Act into law, aimed at making “America the undisputed leader in digital assets.”

The president appointed Paul Atkins to lead the Securities and Exchange Commission in April 2025. Atkins has shifted the agency away from the enforcement-focused approach of his predecessor toward a more industry-friendly stance.

According to Trump’s 2025 mandatory financial disclosure filed with the Federal Election Commission, the crypto earnings far overshadowed income from his traditional real estate business, which first made him famous. He earned approximately $77 million from his Mar-a-Lago club and $122 million from his Doral golf club in Florida. He also earned more than $30 million each from golf clubs in Bedminster, New Jersey; Jupiter, Florida; and Turnberry, Scotland.

As our analysis of Trump’s business empire and the intersection with his presidency has documented, the president placed his businesses in a trust managed by his sons. The president himself is exempt from federal conflict-of-interest laws.

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The White House Response

White House deputy press secretary Anna Kelly said the president had made the US “the crypto capital of the world” and denied any wrongdoing.

“Neither the President nor his family has ever engaged—or will ever engage—in conflicts of interest,” Kelly said in a statement. “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.”

Richard Painter, the former chief White House ethics lawyer under President George W. Bush, rejected that characterisation. “Of course it’s a conflict of interest,” Painter told the BBC. “Extraordinary.”

Will Walker-Arnott, director of private clients at Raymond James Wealth Management, contrasted Trump’s approach with that of his predecessors. “Jimmy Carter put his peanut farm into a blind trust, and George W. Bush sold his interest in the Texas Rangers before becoming president, but Trump seems to be operating in a very different manner and seems to be making a lot of money through this family crypto company.”

According to Forbes and Bloomberg billionaire indexes tracking Trump’s net worth, Forbes estimates his fortune at $6 billion, up from $2.3 billion in 2024. Bloomberg’s Billionaire’s Index places his net worth at $7.6 billion.

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Other Income

Beyond the crypto ventures, the disclosure details a wide range of business activities. The president earned $4.7 million in royalties from Trump-branded watches, along with income from Trump-branded Bibles, trainers, fragrances, and guitars.

The $86.5 million in legal settlements included $16 million from a lawsuit against ABC, $16 million from CBS Broadcasting and CBS Interactive, $24.5 million from Meta, $22 million from YouTube, and $8 million from X. The White House said most of the settlement money went to the future presidential library or a park-focused nonprofit.

Melania Trump’s income included $10.7 million from a “licence agreement” related to a documentary about her released last year, and $6 million from the sale of NFTs, which are digital images sold online.

As our coverage of presidential financial disclosures and ethics standards has tracked, the 927-page filing is significantly longer than those of his predecessors. Joe Biden’s financial report for his last full year in office was 11 pages long.

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FAQ

How much did Trump earn from crypto?

More than $1 billion. The figure includes $635 million in royalties from a Trump meme coin and over $500 million from World Liberty Financial, a crypto firm founded by his sons and the children of his special envoy.

Is there a conflict of interest?

The White House says no, pointing out that the president placed his businesses in a trust and is exempt from federal conflict of interest laws. The former chief White House ethics lawyer under George W. Bush, Richard Painter, called it a clear conflict of interest.

What is World Liberty Financial?

A cryptocurrency firm founded by Donald Trump Jr., Eric Trump, and the children of Steve Witkoff, the president’s special envoy. The president reported more than $500 million in income from the company.

What did Trump previously say about cryptocurrency?

In 2021, he called Bitcoin a “scam” and a “disaster waiting to happen.” During his 2024 campaign, he reversed his position and pledged to make the US the “crypto capital of the planet.”

What other income did the disclosure show?

Millions from real estate, including Mar-a-Lago ($77m) and Doral ($122m). Millions more from branded watches, Bibles, trainers, fragrances, and guitars. Melania Trump reported $10.7m from a documentary deal and $6m from NFTs.