Trump Reports $57M Crypto Windfall as Ethics Concerns Mount

Trump Reveals $57M Crypto Windfall through World Liberty Financial U.S. President Donald Trump has disclosed $57.4 million in revenue from World Liberty Financial, a cryptocurrency firm invested in by his sons Donald Jr. and Eric Trump. The revelation came through a detailed financial disclosure filed with the U.S. Office of Government Ethics, which was viewed by the Financial Times. The 200-page report identifies World Liberty Financial as one of Trump’s most significant sources of income, with the president holding 15.75 billion governance tokens. Rather than purchasing the tokens, Trump received them as part of promotional activities related to the platform. Token Holdings Raise Conflict-of-Interest Concerns The report also details Trump’s transactions with other crypto-related companies like CIC Digital LLC and CIC Ventures LLC, although these companies reported minimal income. While swearing that the filing’s contents are “true, complete, and correct,” ethical concerns have been raised by critics. Trump removed David Huitema, head of the Office of Government Ethics, from office earlier this year, which raised further controversy over his crypto dealings. The SEC, now chaired by Trump appointee Paul Atkins, has eased enforcement actions against crypto firms — a move some say directly benefits Trump’s online venture. World Liberty Financial: $1B Raised, A-List Backers World Liberty Financial, a decentralized finance platform, conducted a token offering last year that raised $1 billion through the sale of 21 billion tokens. Trump’s special envoy Steve Witkoff was a “promoter” for the project, 2024 SEC filings show. Criticisms from both sides of the aisle have been raised over whether Trump’s ongoing profit from crypto investments presents a conflict of interest, especially when creating policy impacting the industry. DRW Investments Shores Up Trump’s Digital Dreams Major financial backing has come from DRW Investments, led by Chicago trader Don Wilson. DRW invested $100 million in Trump Media just weeks after its affiliate Cumberland received SEC enforcement relief from the new administration. This support enables Trump Media’s plans to raise $2.5 billion for a bitcoin treasury strategy and the launch of a Bitcoin exchange-traded fund (ETF). Investigations Underway Representative Jamie Raskin has launched a congressional probe into a private dinner Trump hosted for anchor investors in his meme coin, adding pressure on an already controversial crypto portfolio. As Trump’s crypto empire grows with rule changes, regulators and lawmakers still question where influence ends and personal enrichment begins.

Source: BTC Pulse