Trump accused of $1bn ‘crypto corruption’ profit

Donald Trump has again been accused of “brazen crypto corruption” after financial disclosures revealed his family’s cryptocurrency ventures generated more than $1bn in his first year back in the White House.

- Joseph Gedeon

A 927-page disclosure released by the US Office of Government Ethics showed the US president had earned more than $2.2bn last year in total, from real estate, golf resorts, branded merchandise, licensing deals and court settlements.

But a set of extraordinary crypto takings stood out: World Liberty Financial, a joint venture between the Trump family and that of Trump’s Middle East envoy, Steve Witkoff, brought in more than $500m from sales of “governance tokens”, while another firm, CIC Digital LLC, generated more than $600m from Trump-branded meme coins, launched days before his second inauguration.

Elizabeth Warren, the top Democrat on the Senate banking committee, said the figures showed why US Congress needed to act.

“The crypto legislation heading to the Senate floor must prevent the president, vice-president, senior administration officials, members of Congress, and their families from profiting off the crypto industry,” said Warren. “If it does not, it will only turbocharge Donald Trump’s brazen crypto corruption.”

Juliana Stratton, Illinois lieutenant governor and a Democratic Senate candidate, wrote on social media that Trump’s “infinite greed is disgusting”, adding: “Donald Trump uses the office of the president to make billions while American families struggle to afford their basic needs.”