Trump’s crypto earnings far outpace the businesses he spent decades building : NPR
NPR Topics: Politics — 2026-07-01 15:11:00 — www.npr.org
Trump’s Crypto Windfall Raises Ethics Questions as White House Dismisses Concerns
A new financial disclosure form reveals that President Trump and his family have collected over a billion dollars from cryptocurrency ventures in the past year alone, a dramatic shift for a president who was once a vocal critic of crypto. Since embracing the sector in his second term, Trump has loosened government scrutiny of cryptocurrencies, a move that has coincided with unprecedented personal profits.
From Crypto Critic to Industry Champion
Trump’s position on cryptocurrency has changed significantly. While he previously criticized digital currencies, he has now become a major supporter, with the White House claiming he has “done great things for America by helping the crypto industry.” This pivot has been accompanied by a surge of revenue from crypto-related businesses, outpacing even the growth of his longstanding property empire.
Ethics Rules Abandoned
In his first term, Trump signed a white paper pledging not to strike new business deals abroad and promised to avoid even the appearance of conflicts of interest. However, according to the Associated Press, these self-imposed restrictions have disappeared in his second term. The language barring deals in countries with significant U.S. government interests is now gone, and Trump’s reluctance to profit from the presidency appears to have vanished as well.
Opaque Investors and Potential Conflicts
The disclosure forms show that Trump’s crypto ventures have attracted massive investments from foreign sources, including a Chinese billionaire, Justin Sun, who purchased $275 million in Trump-related crypto assets. Sun was previously sued for duping investors, a case that was put on hold and later settled for $10 million. Another $500 million came from a company tied to the United Arab Emirates government. Despite these large sums, the public knows little about the majority of Trump’s crypto investors, raising concerns about transparency and potential efforts to curry favor with the administration.
White House Response: Dismissal and Attacks on Media
The White House maintains that Trump “only acts in the interests of the public, not for himself,” asserting that his sons run the business and that he is not involved. Officials have attacked the media for raising ethical questions, calling it “a disgrace” to continue pressing on the issue.
Conclusion
President Trump’s reversal on cryptocurrency, combined with the removal of previous ethical restrictions and the influx of foreign money, has sparked outrage among watchdogs and critics. The lack of transparency around the sources of this billion-dollar windfall and the administration’s dismissive response to ethics concerns leave many questions unanswered about the intersection of presidential power and personal profit.