US President Donald Trump reported earning more than $1 billion from cryptocurrency ventures and other business interests during 2025, according to his annual financial disclosure, underscoring the growing role of digital assets in his expanding business portfolio.
The mandatory 927-page filing submitted to the US Office of Government Ethics details the president’s income from a wide range of investments, including cryptocurrency projects, real estate, licensing agreements and branded merchandise.
The largest share of the reported earnings came from cryptocurrency. Trump disclosed receiving $635 million in royalties linked to the $TRUMP meme coin, a digital token launched shortly before he returned to the White House. The cryptocurrency initially attracted strong investor interest but has since fallen sharply in value.
The filing also reported more than $500 million in income from World Liberty Financial, a cryptocurrency business established by Trump’s sons together with members of the family of his special envoy, Steve Witkoff.
The latest disclosure represents a significant increase from Trump’s previous financial report for 2024, when he declared more than $600 million in income.
The White House dismissed suggestions that the president’s business interests create ethical concerns. Deputy Press Secretary Anna Kelly said Trump had fulfilled his pledge to make the United States “the crypto capital of the world” and maintained that neither the president nor his family had engaged in conflicts of interest. The administration has repeatedly stated that Trump’s businesses are held in a trust managed by his sons.
Trump’s growing involvement in cryptocurrency marks a notable shift from his earlier views. In 2021, he described Bitcoin as a “scam,” but later embraced the industry during his presidential campaign, promising to make the United States a global leader in digital assets. After returning to office, he signed executive actions supporting the development of the cryptocurrency sector, while his administration also adopted a more industry-friendly regulatory approach.
Ethics experts have questioned the arrangement. Richard Painter, who served under former President George W. Bush, described the scale of Trump’s cryptocurrency earnings as extraordinary and argued that the financial interests raise conflict-of-interest concerns.
Beyond digital assets, Trump’s real estate holdings continued to generate substantial revenue. His Mar-a-Lago resort earned about $77 million, while his golf club in Doral, Florida, generated approximately $122 million. Additional golf properties in New Jersey, Florida and Scotland each contributed tens of millions of dollars.
The disclosure also listed income from Trump-branded products, including watches, Bibles, footwear, fragrances and guitars. Royalties from Trump-branded watches alone totaled approximately $4.7 million.
First Lady Melania Trump reported income of $10.7 million from a licensing agreement related to a documentary about her, along with another $6 million from the sale of non-fungible tokens (NFTs).
Trump also reported receiving more than $86 million through legal settlements involving media and technology companies. The White House said much of that money would support the future presidential library and nonprofit projects.
The extensive filing, substantially longer than those submitted by previous presidents, is expected to remain a focus of debate as Trump’s business activities continue alongside his second term in office.
