Donald Trump’s billion-dollar crypto empire just landed him in hot water with a former White House lawyer. A former ethics official weighs in on the president’s cryptocurrency earnings and what they mean for his time in office.
A former White House lawyer calls Trump’s holdings a clear conflict
President Donald Trump and his family earned more than $1 billion last year through cryptocurrency ventures and other businesses. NPR reports a 927-page financial disclosure report filed with the Office of Government Ethics revealed the substantial earnings. Former White House ethics lawyer Richard Painter described the president’s holdings as a “clear conflict of interest.”
More than $500 million came from the cryptocurrency venture World Liberty Financial, which Trump family members co-founded. Trump-branded meme coin sales generated an additional $600 million in revenue for the family. The crypto earnings alone far outpace the traditional businesses Trump spent decades building before entering politics.
The financial disclosure also revealed more than $50 million from media settlements reached during the past year. Millions more flowed in from Trump-branded consumer products, including Bibles, sneakers and watches. These various revenue streams highlight the extensive commercial empire operating alongside the presidency.
Painter told NPR’s Morning Edition that federal conflict-of-interest laws would prohibit other executive branch officials from taking similar actions. He added that Trump “stands alone in having such substantial financial conflicts of interest” as president. Painter also discussed the role blind trusts traditionally play in helping presidents avoid conflicts of interest.
Meanwhile, the White House firmly denied any financial conflicts of interest stemming from the reported earnings. Spokesperson Anna Kelly praised the president for making the U.S. “the crypto capital of the world.” Trump separately stated that outside institutions manage his investments and that he does not speak with them.
The president has maintained this position despite growing scrutiny over how his financial interests intersect with policy decisions affecting the cryptocurrency industry. Painter emphasized that the scale of these earnings raises unprecedented ethical questions for a sitting president’s financial conduct.
Originally reported by Vritti Johar on Mandatory.com.
