to leave a comment.
▲ Donald Trump, Bitcoin (BTC), Cryptocurrency/AI Generated Image
As former U.S. President Donald Trump countered the controversy over $1.4 billion in cryptocurrency-related income during his term by stating, "There is nothing illegal, and there is no problem," the debate over cryptocurrency conflicts of interest in U.S. political circles is once again escalating.
According to crypto-focused media outlet Cointelegraph on July 3 (local time), Trump told CNBC's Joe Kernen in a Thursday interview that there was "nothing illegal and nothing problematic" about profiting from cryptocurrency investments during his presidency. He claimed that others were managing his investments, stating, "I don't even know who they are," but did not directly answer questions about the conflict of interest controversy.
This controversy originated from the 2025 financial disclosure report released by the U.S. Office of Government Ethics. The report indicated that Trump earned over $2 billion from businesses and investments, with approximately $1.4 billion of that connected to cryptocurrency projects, including memecoins and the family platform World Liberty Financial.
Of the $1.4 billion in cryptocurrency-related income, Official Trump (TRUMP) memecoin earnings were disclosed as approximately $636 million. World Liberty Financial sales revenue totaled about $588 million, and income related to stablecoin business stakes was $197 million. Although Trump called Bitcoin (BTC) a "scam" after his first term, he expanded his connections with key figures in the cryptocurrency industry, including Gemini co-founders Cameron Winklevoss and Tyler Winklevoss, as well as mining operators and exchange executives, ahead of the 2024 presidential election.
Consumer advocacy groups like Public Citizen criticized Trump's cryptocurrency investments, stating they could influence legislative discussions such as the CLARITY Act for the U.S. cryptocurrency market structure. Trump's niece, Mary Trump, said in a Friday interview with CNN's Anderson Cooper, "Donald is once again pushing the boundaries, and no one is putting the brakes on." She further claimed, "Due to the abuse of presidential pardon power, many people are likely to ultimately escape responsibility for financial crimes."
The flow of political funds from the cryptocurrency industry is also growing again ahead of the 2026 U.S. elections. Digital asset companies are reported to have spent $170 million supporting pro-crypto candidates in 2024, and according to Public Citizen, as of June this year, the crypto industry and related individuals have donated $189 million this election cycle. With cryptocurrency, artificial intelligence, big tech, and online betting companies accounting for a significant portion of the total $294 million spent supporting and opposing politicians, all 435 seats in the U.S. House of Representatives and 35 seats in the Senate are at stake in the 2026 election.
[Article Summary]
-Former U.S. President Donald Trump claimed that there was "nothing illegal and no problem" regarding the controversy over $1.4 billion in cryptocurrency-related income during his term.
-The 2025 financial disclosure report included specific incomes, such as approximately $636 million from Official Trump memecoins and approximately $588 million from World Liberty Financial sales.
-As the cryptocurrency industry's election funding increases, the 2026 U.S. congressional elections and discussions on digital asset regulation are intertwined.
*Disclaimer: This article is for investment reference only and is not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.