U.S. President Donald Trump has pushed back against criticism over his 2025 financial disclosures, telling CNBC that there was “nothing illegal” and “nothing wrong” with profiting from crypto-related investments while in office. In the interview, Trump also suggested that other parties were responsible for certain investment activity, adding that he did not “even know who they are,” an answer that did not directly address conflict-of-interest concerns.
The comments came after the U.S. Office of Government Ethics released Trump’s 2025 financial disclosure report, which shows he received more than $2 billion from business and investment holdings during the year, with roughly $1.4 billion tied to crypto ventures. Advocacy groups have argued that such earnings create incentives to shape policy in ways that benefit related projects.
Key takeaways
- Trump told CNBC he saw “nothing illegal” in profiting from crypto investments while president, even as critics highlighted potential conflicts.
- The 2025 disclosure report from the U.S. Office of Government Ethics ties about $1.4 billion of Trump’s income to crypto-related activity.
- Disclosure breakdown cited in the report includes $636 million from a memecoin, $588 million from World Liberty, and $197 million connected to equity in a stablecoin venture.
- Public Citizen says crypto-linked contributors have put $189 million into the 2026 U.S. election cycle as of June.
What Trump said after the disclosure release
During a Thursday appearance on CNBC with Joe Kernen, Trump responded to questions surrounding the 2025 financial disclosures. He maintained that profiting from crypto investments as president was not improper, framing the controversy as baseless.
When pressed on the issue of who managed or executed the investments, Trump did not provide a straightforward explanation of how he handled potential conflicts. Instead, he argued that others were responsible for the investments and said he did not know the people involved, leaving open key questions that critics say are central to public trust.
Trump’s remarks followed the release of his 2025 disclosure report by the U.S. Office of Government Ethics, an agency responsible for collecting and publishing high-level financial information from top federal officials.
How the 2025 figures connect to crypto projects
According to coverage of the filing, Trump reported more than $2 billion in income from his businesses and investments in 2025, with about $1.4 billion connected to crypto-related activities. Among the crypto-linked components cited were his memecoin, the family platform World Liberty Financial, and an equity stake associated with a stablecoin venture.
Specifically, the crypto-related totals described include approximately $636 million generated by his memecoin, about $588 million from World Liberty sales, and roughly $197 million from equity in a stablecoin venture. Together, these figures form the bulk of the reported $1.4 billion crypto-related income highlighted by critics.
Advocacy organizations have characterized these investments as a form of “grift,” arguing that political influence—whether direct or indirect—could advantage projects tied to Trump and his family. One such critique referenced in the reporting linked the donations and leverage question to proposed legislative efforts, including the Digital Asset Market Clarity (CLARITY) Act.
Earlier reporting on the disclosure emphasized the scale of the crypto-linked earnings and the overlap with areas where U.S. policy could affect digital asset markets.
From skepticism to industry alignment
Trump’s evolving posture toward crypto has been a defining theme of the past several years. In the wake of his first term, he had referred to Bitcoin as a “scam.” However, in the period leading up to the 2024 election, he increasingly associated himself with high-profile crypto figures and industry executives.
As described in the reporting, the shift included engagement with Gemini co-founders Cameron and Tyler Winklevoss, alongside relationships with executives from mining companies and crypto exchanges. During that same broader period, Trump launched a memecoin known as Official Trump (TRUMP), while his family’s involvement with World Liberty and American Bitcoin placed additional attention on crypto-native business activity.
The contrast between earlier skepticism and later engagement is central to why the disclosure controversy has attracted significant attention: critics argue the president’s financial exposure to crypto projects makes it harder to separate policy decisions from personal or business incentives.
Election spending: crypto money looks set to stay active in 2026
The controversy over Trump’s disclosures arrives amid evidence that crypto-related money is becoming a fixture of U.S. electoral spending. After digital asset firms and figures reportedly spent $170 million to support “pro-crypto” candidates to Congress in 2024, political action committees and aligned organizations appear to be applying a similar approach for 2026.
According to Public Citizen, companies and individuals tied to the crypto industry contributed $189 million to this year’s election cycle as of June. Public Citizen also reported that the $189 million figure makes up most of $294 million spent so far by crypto, AI, Big Tech, and online betting companies to support or oppose politicians.
With Trump’s term ending in January 2029, the current political landscape matters for more than symbolic scrutiny: all 435 seats in the U.S. House of Representatives and 35 seats in the Senate are up for election in 2026. For digital asset firms, stablecoins, exchanges, miners, and token issuers, legislative outcomes in the next cycle could shape compliance rules, market structure, and the pace of regulatory clarity.
Related coverage pointed to how these spending patterns reflect a sustained effort to influence policy direction during election years.
Pressure and counterpressure from within Trump’s orbit
Criticism is not limited to advocacy groups outside Trump’s circle. In comments relayed from a Friday interview with CNN’s Anderson Cooper, Mary Trump—his niece—accused him of pushing boundaries and argued that people could evade consequences due to the president’s use of the presidential pardon power.
While her remarks were not directly focused on the legal interpretation of financial disclosure rules, they underscore the broader narrative opponents are advancing: that public officials with substantial financial exposure to crypto-related enterprises face intensified scrutiny over potential conflicts of interest and the consequences for those who invest based on political proximity.
What to watch next
As scrutiny continues, the next signals to monitor are how regulators and watchdogs interpret the disclosure details in the context of federal ethics rules, and whether the 2026 election cycle brings additional policy movement on digital assets—especially in areas that intersect with stablecoins, token issuance, and broader market structure.
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