Trump turns crypto influence into income with $57m windfall
The post Trump turns crypto influence into income with $57m windfall appeared on BitcoinEthereumNews.com. President Donald Trump has reported $57.4 million in income from World Liberty Financial, his cryptocurrency venture backed by sons Donald Jr. and Eric Trump. According to the Financial Times, citing a 200-page filing, the U.S. Office of Government Ethics discloses that one of Trump’s largest revenue sources among hundreds of financial interests is his crypto venture. The filing shows Trump holds 15.75 billion governance tokens in World Liberty Financial. Instead of a direct investment, the tokens were obtained through his promotional activities on the network. The report also shows that Trump holds positions in holding companies linked to digital ventures, such as CIC Digital LLC and CIC Ventures LLC, though these entities reported little to no income. The document includes Trump’s certification that the information provided is “true, complete, and correct to the best of [his] knowledge,” and is subject to review by the U.S. Office of Government Ethics. Earlier this year, Trump removed David Huitema as director of the Office of Government Ethics, an independent agency responsible for overseeing ethics rules and financial disclosures for the executive branch. Trump’s crypto fortune fuels conflict-of-interest concerns According to 2024 SEC filings, Steve Witkoff, Trump’s special envoy, was a “promoter” of the World Liberty Financial initiative. The venture operates as a decentralized finance platform offering cryptocurrency lending and trading services. Since it launched last year, World Liberty Financial sold 21 billion tokens in a public offering, generating $1 billion in funding. Trump’s involvement appears legal on the surface, but Democrats and some Republicans have flagged Trump’s willingness to profit while in office as a conflict of interest —particularly since the president holds substantial crypto stakes while influencing policy. SEC Chair Paul Atkins has dropped several high-profile enforcement cases against cryptocurrency companies since taking office. This has created a more favorable regulatory environment…
The post Trump turns crypto influence into income with $57m windfall appeared on BitcoinEthereumNews.com.
President Donald Trump has reported $57.4 million in income from World Liberty Financial, his cryptocurrency venture backed by sons Donald Jr. and Eric Trump. According to the Financial Times, citing a 200-page filing, the U.S. Office of Government Ethics discloses that one of Trump’s largest revenue sources among hundreds of financial interests is his crypto venture. The filing shows Trump holds 15.75 billion governance tokens in World Liberty Financial. Instead of a direct investment, the tokens were obtained through his promotional activities on the network. The report also shows that Trump holds positions in holding companies linked to digital ventures, such as CIC Digital LLC and CIC Ventures LLC, though these entities reported little to no income. The document includes Trump’s certification that the information provided is “true, complete, and correct to the best of [his] knowledge,” and is subject to review by the U.S. Office of Government Ethics. Earlier this year, Trump removed David Huitema as director of the Office of Government Ethics, an independent agency responsible for overseeing ethics rules and financial disclosures for the executive branch. Trump’s crypto fortune fuels conflict-of-interest concerns According to 2024 SEC filings, Steve Witkoff, Trump’s special envoy, was a “promoter” of the World Liberty Financial initiative. The venture operates as a decentralized finance platform offering cryptocurrency lending and trading services. Since it launched last year, World Liberty Financial sold 21 billion tokens in a public offering, generating $1 billion in funding. Trump’s involvement appears legal on the surface, but Democrats and some Republicans have flagged Trump’s willingness to profit while in office as a conflict of interest —particularly since the president holds substantial crypto stakes while influencing policy. SEC Chair Paul Atkins has dropped several high-profile enforcement cases against cryptocurrency companies since taking office. This has created a more favorable regulatory environment…
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