President Trump says he never speaks to the people who invest his money. Yet his latest financial disclosure shows a revenue jump - from at least $622 million to at least $2.24 billion in one year. Most of this additional income originates from cryptocurrency ventures associated with his own relatives.
The Numbers Behind the Jump
The disclosure form is 927 pages long. A small item in the filing reveals that on September 23, Trump purchased Amazon stock worth between $500,000 and $1 million, coinciding with the start of a federal trial alleging the company deceived customers into Prime memberships. His largest individual stock transactions fell in the $5 million to $25 million range.
Trump's Explanation and the White House Defense
"I don't get involved in my personal - we have funds that run my money," Trump said. He added, "Well, I've made a lot of money before I became president, and they invest my money, and I don't talk to them. I never - I don't even speak to them." He described the arrangement as "a blind account" where big institutions take his money and invest without his input.
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"Well, you know why I'm profiting is the stock market's going up, everybody's profiting," Trump said, pointing to the 54.4% of Americans who own stocks, citing SEC data.
White House spokeswoman Anna Kelly defended Trump, saying "Neither the President nor his family has ever engaged - or will ever engage - in conflicts of interest." She also said, "President Trump proudly made the United States the crypto capital of the world through executive actions, supporting legislation like the GENIUS Act, and other commonsense policies to drive innovation and economic opportunity for all Americans."
Conflict of Interest Concerns Remain
Critics are still raising red flags. The president's personal wealth is now deeply tied to industries he regulates - especially crypto. World Liberty Financial, co-founded by Trump family members, benefits from the administration's pro-crypto policies. And the $635 million in memecoin royalties comes from a business built on the president's name and image.
When reporters asked Trump about conflicts of interest on the day of the report, he ignored the question. The White House denied any wrongdoing.
The 927-page disclosure is filed annually with the Office of Government Ethics and reports assets and income in broad ranges. This year's filing marks the first time Trump has reported such large crypto-related earnings, reflecting the rapid expansion of digital assets under his administration's favorable policies.
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