Trump made more than $1bn from crypto in first year back in office

US President Donald Trump made more than $1bn (£750m) last year from business dealings in cryptocurrency, according to his mandatory financial report for 2025.

In a 927-page disclosure, he reported $635m in royalties from a Trump meme coin that has plunged in value since he launched it days before taking office.

He also reported over $500m in income from World Liberty Financial, a cryptocurrency firm founded by his own sons and the children of his special envoy, Steve Witkoff.

He earned millions more from real estate and Trump-themed items. But the White House denied he was profiting from the presidency.

The earnings from his latest financial disclosure far outpace the previous ones for 2024, when Trump disclosed over $600m in income.

But the White House, which has repeatedly emphasised that Trump has placed his business in a trust managed by his sons, again denied any conflict of interest.

White House deputy press secretary Anna Kelly said the president had proudly made the US “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 in a statement.

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.”

The president himself has also highlighted that he is not subject to federal conflict of interest laws.

Trump once criticised cryptocurrency, famously calling Bitcoin a “scam” and a “disaster waiting to happen”.

But Tuesday’s disclosure shows his crypto earnings far overshadow income from his real estate business, which first catapulted him to fame.

He earned around $77m from his Mar-a-Lago club and $122m from his golf club in Doral, Florida.

He also earned more than $30m each from golf clubs in Bedminster, New Jersey, and Jupiter, Florida, and Turnberry, Scotland.

Trump also earned millions from other business ventures, according to the financial disclosure.

These included $4.7m in royalties from Trump-branded watches, along with Trump-branded Bibles, trainers, fragrances and guitars.

First Lady Melania Trump also listed her income from 2025 in the disclosure. She made $10.7m from a “license agreement” related to the documentary about her that was released last year.

Another $6m in income is listed for her from the sale of NFTs, which are digital images sold online.

The president listed millions of dollars, too, in settlements from various legal actions.

These included $16m from a lawsuit against ABC, $16m from CBS Broadcasting and CBS Interactive, $24.5m from Meta, $22m from YouTube and $8m from X.

But the White House has said most of that money went towards Trump’s future presidential library or a nonprofit dedicated to the upkeep of park sites in the Washington DC area.

According to a list of the world’s richest people compiled by Forbes magazine, Trump has an estimated fortune of $6bn – up from $2.3bn in 2024. Bloomberg’s Billionaire’s Index puts the president’s net worth at $7.6bn.

After his return to the White House, Trump adopted a friendly approach to the crypto industry, even as companies linked to his family issued digital tokens.

The Trump-appointed head of financial regulator, the Securities and Exchange Commission, is also seen as an ally of the crypto industry.

Since taking office in April 2025, Paul Atkins has shifted the agency away from the strict, regulation-by-enforcement approach of his predecessor.

Last July, the president signed the GENIUS Act into law, to make “make America the undisputed leader in digital assets”.

At more than 900 pages, Trump’s annual filing dwarfs those of his predecessors. For example, Joe Biden’s financial report for his last full year in office was 11 pages long.