US President Donald Trump has defended earning about $1.2bn from his family’s cryptocurrency ventures, rejecting criticism that he has used the presidency for personal financial gain.
Speaking to reporters before boarding a new Air Force One aircraft gifted by Qatar, Mr Trump said his financial success reflected broader market gains rather than any benefit from his office.
“You know why I’m profiting, because the stock market’s going up, everybody’s profiting,” he said.
Responding to questions about potential conflicts of interest, the president said his assets were held in blind trusts and managed independently.
“I don’t get involved in my personal (finances), we have funds that run my money,” Mr Trump said. “I’ve made a lot of money before I became president, and they invest my money, and I don’t talk to them.”
He also argued that his wealth stemmed from his long-standing business career despite the cryptocurrency earnings being linked to ventures launched after his return to the White House.
“I don’t know if I’ve had a better career in politics or business, but I had a great career in business,” he said.
Financial disclosure documents released by the US Office of Government Ethics show Mr Trump earned nearly $550m through his connections to crypto startup World Liberty Financial (WLF).
The company was co-founded by the president’s sons alongside the son of his Middle East special envoy, Steve Witkoff.
The 927-page filing also lists $635m in royalties under a licensing agreement tied to the $TRUMP cryptocurrency, which was launched just hours before Mr Trump’s inauguration.
According to Forbes, the president’s cryptocurrency interests were the main driver behind the sharp increase in his personal wealth, with his estimated fortune rising from $2.3bn to $6.5bn over the past year.
Since returning to office, Mr Trump has introduced policies aimed at easing regulation of the cryptocurrency industry, a move that has coincided with strong gains in digital asset prices.
The White House said the president had “proudly made the United States the crypto capital of the world.”
