In his annual financial disclosure for 2025, U.S. President Donald Trump reported more than 1.4 billion USD in crypto income. This income came from his family's ventures. For the first time, cryptocurrencies are therefore his largest source of income, ahead of the real estate and golf businesses.
The annual financial disclosure with the U.S. Office of Government Ethics (OGE) is a legally mandated transparency requirement. It forces the president to disclose all income sources and assets. The Office published the document at the end of June 2026. At 927 pages, the Trump Organization describes it as one of the most comprehensive financial reports ever filed. For comparison: Barack Obama's final disclosure ran to eight pages, Joe Biden's to eleven. The main income drivers are World Liberty Financial, co-founded by Trump, his sons and Steven Witkoff. The second driver is the TRUMP meme coin, launched shortly before the inauguration in January 2025. Around 800 million USD flowed to the Trump companies from World Liberty Financial. Another 635 million USD came from the sale of the meme coins. Measured against the 57.35 million USD in WLFI income the previous year, this ultimately amounts to a multiple.
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Crypto revenue overtakes Trump's real estate businesses
The single largest item in the disclosure is attributable to World Liberty Financial. The crypto company brought in around 800 million USD for the president's firms. Of that, more than 520 million USD came from the sale of crypto tokens. Another 250 million USD came from the sale of stakes in the business. In addition, 635 million USD flowed in from the TRUMP meme coins. NBC records these as licensing fees for the Trump entity CIC Digital LLC. Altogether, this yields crypto income of more than 1.4 billion USD. The media quantify the individual items differently. CNBC cites 515 million USD in token sales plus 65 million USD from WLF Holdco stakes. Bloomberg reports over 594 million USD. All of them, however, confirm the total figure of 1.4 billion USD.
The previous year, Trump had reported only 57.35 million USD from WLFI token sales. The jump therefore corresponds to roughly ninefold, and depending on the reference point even to 25 times. Moreover, the president recorded over 80 million USD from settlements with several media companies. Furthermore, 52 million USD came from licensing his name to foreign real estate developers, primarily in the Middle East.
The Trump Organization's traditional business grew comparatively slowly. In the golf and resort business, revenue rose 15% to a good 500 million USD. The Mar-a-Lago Club in Florida climbed from 50 to 77 million USD. The golf club in West Palm Beach rose 27%, while the one in Los Angeles declined. Trump Doral generated 122 million USD, the Trump Tower Chicago 39 million USD. For most of the roughly dozen reported commercial real estate holdings, however, the income range in 2025 remained flat. It was at or below the level of ten years ago.
World Liberty Financial drives Trump's crypto income
World Liberty Financial is a crypto venture that Trump founded together with his sons and real estate investor Steven Witkoff. At the head of the company stands Zach Witkoff, the son of the co-founder. Its business model rests on two pillars: the dollar stablecoin USD1 and the in-house WLFI token.
On the sale of these tokens, the company retains 75% of net revenue. Consequently, this accounts for the bulk of the 800 million USD that flowed to the Trump firms in 2025. The stablecoin USD1 is pegged to the U.S. dollar and at the same time drew additional attention. A sovereign wealth fund controlled by Abu Dhabi used it to settle a multi-billion-dollar investment in the crypto exchange Binance.
This transaction is politically sensitive. Trump had previously pardoned Binance co-founder Changpeng Zhao. However, the president disputes any connection between the pardon and the deal conducted through his stablecoin. For critics, this nevertheless reinforces the pattern that runs through the entire disclosure. Trump's private crypto business and his conduct in office increasingly intertwine.
Ethics watchdogs see conflicts of interest despite denials
Trump's crypto income coincides with a regulatory policy from which the industry benefits. Since he took office, the administration has introduced nationwide stablecoin rules. These created a uniform legal framework for the first time for dollar-pegged stablecoins such as USD1. At the same time, it eased oversight by the Justice Department and the SEC. For the crypto industry, these are therefore long-demanded reliefs.
Legally, the president initially operates in safe territory. Presidents and vice presidents are exempt from the regular conflict-of-interest laws for government employees. Previous officeholders, however, traditionally managed their finances according to these principles. Trump breaks with that practice. The sheer scale of the disclosure underscores the entanglement of his businesses. It runs to 927 pages, compared with 17 pages for Vice President JD Vance.
The White House rejects all criticism. Ethics watchdogs, by contrast, see a structural conflict between the president's private crypto venture and his administration's industry-friendly policy. The close timing between regulatory relief and private crypto income lies at the center of their criticism.
"Neither the president nor his family has ever been involved in conflicts of interest, and never will be. President Trump has proudly made the United States the crypto capital of the world through executive action." - Anna Kelly, White House spokeswoman
TRUMP token loses value despite record income
While the Trump family reports record income, the balance sheet for many investors looks different. The TRUMP token originally came to market three days before the inauguration in January 2025. At first, it shot up within a single day to a high of over 74 USD. After that, it fell steeply. Nevertheless, the president continues to promote the project. In April 2026, he received the winners of the second annual meme coin competition at Mar-a-Lago.
The token currently trades at 1.69 USD, with a market capitalization of around 401 million USD. At its peak, that figure stood many times above today's value. Compared with the level a year ago, this corresponds to a loss of value of 80.5%. The president's wealth thus grew, while many small investors lost the bulk of their stake.
Across all crypto projects, the balance for the family nevertheless comes out lavish. Reuters estimates that Trump has earned at least 2.3 billion USD from crypto projects. That total spans the period since his return to the White House in 2025. The crypto income reported for 2025 is ultimately likely already largely included in that figure.
