Trump denies conflict of interest over more than $1 billion in crypto gains
President Donald Trump responded to criticism regarding his considerable earnings from cryptocurrency last year, emphasizing that he dose not personally manage his finances. He stated that his investments are managed by funds that he doesn’t communicate with directly and described his wealth as accumulated through a successful business career. Trump dismissed concerns about conflicts of interest, attributing his financial gains to the rising stock market and the performance of institutions managing his money. He highlighted that everyone is benefiting financially, including individuals with retirement accounts like 401(k)s, attributing the gains to his leadership. Additionally,Trump and his sons,Eric and Donald Jr., who traveled with him, launched a cryptocurrency company called World Liberty Financial in 2024, which contributed to about $500 million of his reported crypto gains last year.
President Donald Trump pushed back Wednesday on criticisms of his massive gains from cryptocurrency last year, arguing that he doesn’t personally manage his finances.
Trump spoke to reporters at Joint Base Andrews before traveling to North Dakota for the opening of the Teddy Roosevelt Presidential Library, where he was asked about the $1.2 billion he earned from his family’s cryptocurrency business.
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The president said that he doesn’t “get involved” with his money managers and advisers.
“We have funds that run my money,” he continued. “I’ve made a lot of money before I became president, and they invest my money, and I don’t talk to them. I never — I don’t even speak to them.”
“I’ve had a great career in business. I don’t know if I’ve had a better career in politics or business,” the president continued. “You saw the cash, and you report the different things. What we do — I think it’s called a blind account, but they, basically, they take it, and I purposely — I never speak to any of the people that run the money, but they’re at big institutions, and they invest in whatever they invest.”
Trump additionally brushed off a question about conflicts of interest, as his administration has focused on fostering cryptocurrencies, arguing that he’s “profiting because the stock market’s going up.”
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“Everybody’s profiting. If you ever — if you have a 401(k), how’s your 401(k) done? It’s up 85% Thank you, President Trump,” he stated. “So we’re all profiting. I’m profiting because I have a lot of money and a lot of cash, and we — I give it to institutions. I don’t know if they know what they’re doing or not, but they buy a vast array of things.”
The president’s sons, Eric and Donald Trump Jr., were traveling with the president on Wednesday and were standing behind him while he spoke to reporters on Wednesday. The three Trumps launched a cryptocurrency company, World Liberty Financial, in 2024, which was responsible for $500 million of the president’s reported cryptocurrency gains last year.
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