Donald Trump’s latest mandatory financial report puts Trump crypto earnings above $1bn for 2025, a huge sum, even for a president whose brand has always been built to sell.
The 927-page disclosure says the US president received $635m in royalties from an entity called Celebration Coins, which is believed to be connected to the $TRUMP meme coin. That token has fallen sharply in value since Trump launched it just days before returning to office.
He also reported more than $500m in income from World Liberty Financial, a cryptocurrency company founded by his sons and the children of Steve Witkoff, Trump’s special envoy.
In total, the latest filing shows at least $2.2bn in income, far above the more than $600m Trump disclosed for 2024.
Why the crypto income stands out
The filing’s big story is the scale of the crypto money. It is larger than Trump’s reported income from the real estate and club businesses that made him famous long before politics became the family’s main stage.
The White House rejected the idea that the president is profiting from the presidency. Officials have repeatedly said Trump’s businesses are held in a trust managed by his sons.
Anna Kelly, the White House deputy press secretary, said Trump had proudly made the United States “the crypto capital of the world”.
“Neither the President nor his family has ever engaged - or will ever engage - in conflicts of interest,” she said.
She added: “All actions by President Trump and his administration are taken in the best interest of the American people – and any so-called ‘reporters’ pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade.”
Trump has also pointed out that, as president, he is not covered by federal conflict of interest laws.
How Trump moved from crypto critic to crypto champion
Trump only recently embraced digital assets, which makes the numbers more politically charged.
In 2021, he called Bitcoin a “scam” and a “disaster waiting to happen”. By the 2024 presidential campaign, he was promising to make the United States the “crypto capital of the planet”.
After returning to the White House, one of his early actions was an executive order to “support the responsible growth” of the cryptocurrency industry. And Washington has been far friendlier to the industry.
Richard Painter, who served as chief White House ethics lawyer under President George W Bush, told the BBC it was “extraordinary” that Trump had made $1bn from cryptocurrency.
“Of course it’s a conflict of interest,” he said.
Will Walker-Arnott, director of private clients at Raymond James Wealth Management, said Trump’s approach differs sharply from past presidents.
“Jimmy Carter put his peanut farm into a blind trust and George W Bush sold his interest in the Texas Rangers before becoming president, but Trump seems to be operating in a very different manner and seems to be making a lot of money through this family crypto company,” he said.
What else Trump reported earning
The disclosure also shows major income from Trump’s clubs, resorts and licensing ventures, though none of those categories came close to the crypto figures.
Among the reported earnings:
- About $77m from Mar-a-Lago in Florida
- $122m from his golf club in Doral, Florida
- More than $30m each from golf clubs in Bedminster, New Jersey, Jupiter, Florida, and Turnberry, Scotland
- $4.7m in royalties from Trump-branded watches
- Additional income from Trump-branded Bibles, trainers, fragrances and guitars
The merch list is long enough to make one thing clear: if it can be branded, Trump has probably branded it.
First Lady Melania Trump also reported income in the filing. She listed $10.7m from a “license agreement” tied to a documentary about her released last year, along with $6m from the sale of NFTs, the digital images sold online as blockchain assets.
Legal settlements and rising net worth
Trump also reported about $86.5m from legal settlements.
Those included:
- $16m from a lawsuit against ABC
- $16m from CBS Broadcasting and CBS Interactive
- $24.5m from Meta
- $22m from YouTube
- $8m from X
The White House has said most of that money went either toward Trump’s future presidential library or to a nonprofit dedicated to maintaining park sites in the Washington DC area.
Trump’s fortune has also grown. Forbes magazine estimates his net worth at $6bn, up from $2.3bn in 2024. Bloomberg’s Billionaires Index places it higher, at $7.6bn.
The filing is huge. At more than 900 pages, it dwarfs recent presidential disclosures. Joe Biden’s financial report for his last full year in office, by comparison, was 11 pages.
A friendlier Washington for digital assets
Trump’s return to office has coincided with a friendlier federal posture toward cryptocurrency, even as companies linked to his family issued digital tokens.
The Securities and Exchange Commission, now led by Trump appointee Paul Atkins, is widely viewed as more sympathetic to the crypto industry. Since taking office in April 2025, Atkins has moved the agency away from the strict regulation-by-enforcement strategy associated with his predecessor.
In July, Trump signed the GENIUS Act into law, saying it would help “make America the undisputed leader in digital assets”.
For supporters, the shift is a long-awaited opening for an industry that felt targeted by regulators. For critics, the timing is less comforting: a president promoting crypto-friendly policy while his family-linked ventures generate extraordinary income from the same sector.
That’s the tension at the heart of the filing. The numbers are public. The debate over what they mean is not going anywhere soon.
