cryptocurrency

The White House submitted a 927-page financial disclosure to the US Office of Government Ethics on Tuesday, offering the fullest picture yet of how US President Donald Trump’s fortune has grown since he returned to office in January 2025.

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Barely established when he was sworn in, Trump’s crypto businesses now generate more revenue than large parts of the property empire he spent decades assembling with his family, earning the US president more than $1.2 billion (€1.05bn) last year.

Two ventures account for the bulk of the crypto windfall.

World Liberty Financial, the firm launched in 2024 by Trump’s sons and business partners, brought in more than $500 million (€438mn) from selling new crypto products, among them so-called governance tokens, which grant holders voting rights in certain company decisions but no ownership stake.

A separate business tied to the $TRUMP “meme” coin, a cryptocurrency bearing the US president’s face and name, generated a further $635 million (€557mn) from token sales.

Trump’s crypto activities appear to be a major driver of the near tripling of his personal fortune, which Forbes estimates rose from $2.3 billion (€2bn) to $6.5 billion (€5.7bn) between 2024 and 2026.

For many buyers, the story has been far less lucrative.

The $TRUMP coin, which briefly traded above $74 in the days after its launch, has since collapsed to under $2, while World Liberty’s tokens have shed around 80% of their value since they began trading last September.

Since the disclosure lists only revenue and not profit, the true scale of Trump’s personal gains cannot be known. However, the filing shows that the US president and his family collected fees and royalties up front, while many investors have seen the value of their holdings fall sharply.

Among those investors was Chinese-born crypto billionaire Justin Sun, who poured $75 million (€65.7mn) into the governance tokens and $200 million (€175.3mn) into both $TRUMP and $MELANIA meme coins.

A US fraud case against him was later paused before being resolved with a $10 million (€8.7mn) settlement. Sun has denied any connection between his spending and the outcome of his legal troubles.

After the release of the filing, the White House also rejected suggestions of any ethical concerns.

“Neither the President nor his family has ever engaged, or will ever engage, in conflicts of interest,” Principal Deputy US Press Secretary Anna Kelly said in a statement to AFP.

Kelly said US President Donald Trump had “proudly made the United States the crypto capital of the world.”

“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,” Kelly added.

Beyond crypto: Trump’s wider business empire

The filing also details an aggressive international expansion, with new hotel, resort and condominium agreements generating millions of dollars in countries that were negotiating with Washington over trade and security at the same time.

A development in the United Arab Emirates earned the Trump business around $10.4 million (€9.1mn) last year, one in Saudi Arabia roughly $9 million (€7.9mn), and projects in Qatar, Romania and Vietnam were $5 million (€4.3mn) apiece.

Closer to home, the US president’s established businesses boomed alongside all the new ventures.

Mar-a-Lago, Trump’s private club in Florida, generated around $77 million (€67.5mn), a jump of roughly 50% on the previous year, as heads of state and executives flocked to the property during his new term.

The disclosure also reveals the wide range of ways the Trump brand is now monetised.

The US president earned millions from a sprawling range of branded goods, from sneakers and watches to bumper stickers, with Trump-branded watches alone bringing in $4.7 million (€4.1mn), and more than $200,000 (€175,300) coming from the “God Bless the USA” Bible, a branded edition promoted with country singer Lee Greenwood.

Branded merchandise of this kind, sold by a sitting US president, has no precedent.

A 1978 law requires the president and vice president of the United States to declare their income as well as their assets.

First Lady Melania Trump’s income is also set out in her husband’s financial disclosure, including more than $10 million (€8.7mn) tied to a biographical Amazon documentary and over $500,000 (€438,250) from her memoir.

For comparison, US Vice President JD Vance reported between $1 million (€876,500) and $5 million (€4.4mn) in royalties from his 2016 book “Hillbilly Elegy”.

Critics have long argued that such arrangements blur the line between public office and private profit. The White House rejects the charge outright.

June 30 (UPI) — President Donald Trump reported billions of dollars in income, revenue and other proceeds during his first year back in the White House, much of it tied to cryptocurrency ventures, according to his annual financial disclosure released Tuesday.

Trump reported at least $2.1 billion in income, revenue and other proceeds last year, according to his financial disclosure made public by the U.S. Office of Government Ethics, with more than half tied to cryptocurrency.

Though Trump was initially skeptical about cryptocurrencies,, he embraced the digital currencies — and their supporters — during his third campaign for the White House. After being elected, he created what some analysts have called a crypto-friendly administration.

During his first year in office, he took several actions in support of the crypto industry, including signing a digital-assets executive order during his first week in office and creating a strategic Bitcoin reserve and U.S. digital asset stockpile.

The 927-page financial disclosure states the president reported more than $1.4 billion in cryptocurrency income and proceeds, including $635 million from his $TRUMP meme coin and nearly $800 million from World Liberty Financial, a Trump family-linked cryptocurrency venture.

The $TRUMP memecoin was a cryptocurrency Trump announced days before his inauguration. He announced the $MELANIA memecoin the day before he was inaugurated.

Memecoins are cryptocurrencies with little to no intrinsic utility, often derived from Internet memes and supported by online communities or fans.

After Trump announced the coins, critics accused him of attempting to profit from the presidency.

The disclosure also shows that Trump reported tens of millions in revenue from golf, resort and real estate-related holdings, including $121.9 million from Trump Doral, $77.5 million from Mar-a-Lago, $37.6 million from his Lamington Farm Club, $36.9 million from Trump International Golf Club in West Palm Beach and $31.6 million from his Jupiter Golf Club, among others.

Trump has launched a slate of crypto-friendly policies since returning to the White House for a second term.

A new government report has shown that United States President Donald Trump made millions from cryptocurrency and settlements with media companies last year, raising questions about possible conflicts of interest.

On Tuesday, the US Office of Government Ethics released annual financial disclosure forms for both Trump and his vice president, JD Vance.

One 927-page document itemises all of Trump’s reported assets and income for 2025. They include more than $1.4bn from his family’s cryptocurrency ventures.

Trump received more than $500m from World Liberty Financial, a crypto venture he and his sons co-founded. The president also reported another $635m from the sale of his $TRUMP meme coins.

The report suggests that investments in digital assets now generate one of the largest tranches of Trump’s income, overtaking even the real estate empire he inherited from his father.

The revelation is likely to intensify scrutiny of Trump’s policies.

Since returning to the White House in January 2025, Trump has launched a slate of crypto-friendly policies as he seeks to make the US the “crypto capital of the world”.

Early in his second term, for instance, the president announced that his government would create a national strategic cryptocurrency reserve to help ensure the stability of certain digital assets.

He also hosted the first-ever White House cryptocurrency summit.

The forum included several technology leaders that had been under investigation during the administration of Trump’s predecessor, Democrat Joe Biden.

But Trump reversed those actions. In February 2025, for instance, the Securities and Exchange Commission announced it would drop charges against Coinbase, the largest US-based cryptocurrency exchange, after it was accused of acting as an unregistered broker.

Other digital currency firms came under suspicion for fraudulent transactions.

Trump has coupled the shift away from government oversight with efforts to champion new legislation, including the GENIUS Act.

The law, passed in Congress in July 2025, created a general regulatory framework that required stablecoin, a type of cryptocurrency, to be backed one-to-one by US dollars. Advocates said the law would help to make cryptocurrency more mainstream.

“The entire crypto community: For years, you were mocked and dismissed and counted out,” Trump said during the law’s signing ceremony. “You were counted out as little as a year and a half ago, but this signing is a massive validation.”

But Trump’s increasingly close ties to the cryptocurrency industry have drawn criticism for its potential for corruption.

Last week, five Democratic senators, including Elizabeth Warren and Richard Blumenthal, called on their Republican colleagues to join them in forcing Trump administration officials to testify under oath about their cryptocurrency dealings.

They pointed to investments from the United Arab Emirates (UAE) in World Liberty Financial, the company the Trump family co-owns with government envoy Steve Witkoff’s sons.

Those investments, they argued, “raise questions about what more the UAE may receive — or may have already received – at the expense of U.S. national security after investing in the Trump family crypto company”.

The five Democrats urged immediate hearings on the matter.

The clock is running down on the most consequential deadline the crypto sector has faced in Europe.

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From the start of July, the transitional window under the Markets in Crypto-Assets Regulation (MiCA) closes for good, and companies that have not secured authorisation must either stop serving European customers or wind down altogether.

MiCA is the EU’s first comprehensive law for the crypto industry, bringing exchanges, brokers and digital wallet providers under the kind of formal oversight that has long applied to banks and other financial firms.

It replaces a fragmented mix of national rules with a single rulebook spanning all 27 member states: a company licensed in one EU country earns a “passport” to operate across the bloc, but in return it must meet standards on how much capital it holds, how it is run, how it safeguards customers’ funds and how it prevents money laundering.

“What emerges is a genuine single market replacing the old patchwork of 27 national regimes,” Yamal Kalaf, co-founder of MiCAR Whitepapers Europe, which advises crypto businesses on MiCA authorisation, told Euronews.

Since the core rules took effect at the end of 2024, existing operators have been allowed to keep operating under older national registrations, but that concession was temporary.

Crypto firms need European licences but many are behind

The scale of the looming shake-out is striking.

According to the European Securities and Markets Authority (ESMA), which confirmed in April that there would be no extension, only around 210 firms had obtained full authorisation by May, out of more than 1,200 that previously held national crypto registrations across the EU.

That points to a conversion rate of well under a fifth, leaving the vast majority of the old market without a licence as the cut-off arrives in a few days.

Speaking to Euronews, Roshan Dharia, CEO of distressed-investment firm Echo Base, explained that “the low conversion rate suggests that a meaningful portion of the market has concluded that obtaining and maintaining a MiCA licence is not economically viable within its current operating model.”

National regulators have warned that firms operating beyond the deadline without the new licence face enforcement action. France’s markets watchdog has also cautioned that continuing without authorisation could expose companies to criminal prosecution.

ESMA has told unlicensed providers to prepare orderly wind-downs, including transferring customer assets to authorised platforms or self-custody wallets, and to notify clients in advance so they can move funds safely.

“What we will see after 1 July is a smaller, more institutional market with real passporting. That is not a market in retreat. That is a market growing up,” Miguel Zapatero, Head Counsel at Crossmint, told Euronews.

Crossmint is a crypto infrastructure provider whose licensed rails let developers build wallets, custody and payment products.

A market reshaped around licensed rails

Plenty of familiar names have already cleared the bar.

Coinbase has been authorised in Ireland and Kraken in Ireland and Luxembourg. At the same time, the banking app Revolut secured its licence from Cyprus’s regulator late last year, allowing it to offer crypto services across the EU.

For these firms, the new rules promise a reward as unlicensed rivals retreat, the survivors stand to absorb their departing customers.

“MiCA is a genuine regulatory identity shift, not a registration exercise,” Gal Arad Cohen, partner at law firm S. Horowitz & Co, told Euronews.

The most prominent casualty so far may be Binance, the world’s largest crypto exchange.

According to Reuters, which cited two people familiar with the matter, Binance is set to lose permission to serve EU clients because its licence application to Greece’s market regulator, the Hellenic Capital Market Commission, is poised to be rejected.

Without approval in any member state, the exchange would be unable to operate across the bloc from July onwards.

Speaking to Euronews, Patrick Mollard, CEO at Fipto, a blockchain-based payments company for businesses, referred to the Binance case by stating that “scale earns you no shortcut to a licence, and that is precisely the point.”

Binance has pushed back, saying it has worked constructively with regulators for 18 months and believes its application met MiCA’s requirements. The company added that it understood the Greek authority had completed its review and found the filing compliant.

The company has promised a further update before 30 June.

The episode has also reputedly taken on a political dimension.

French crypto publication The Big Whale reported, citing unnamed sources, that ECB President Christine Lagarde had opposed Binance’s bid for a Greek MiCA licence.

Euronews could not independently verify the report, and neither the ECB nor the Greek government has publicly commented on the allegations.

The Big Whale also reported that Binance is exploring a potential MiCA application in France after the setback in Greece, a claim that neither Binance nor French regulators have publicly confirmed.

Binance did not immediately respond to a request for comment from Euronews.

A shake-out for smaller crypto firms

Beyond the biggest names, the deadline is expected to push smaller crypto apps and brokers towards licensed custody providers. Rather than building their own MiCA-compliant systems, many are likely to rely on authorised firms to hold customer assets.

“We will see consolidation and transfer of clients as the deadline will not be met by all currently operating entries,” Floortje Nagelkerke, partner at law firm Norton Rose Fulbright, explained to Euronews.

The result, analysts suggest, will be a smaller, more concentrated European market, with fewer players, higher barriers to entry and a clear advantage for those holding a licence, but stronger consumer protections.

“People who hold crypto in the EU after 1 July will, on balance, hold it on safer rails,” Miguel Zapatero, Head Counsel at Crossmint, concluded.

May 26 (UPI) — President Donald Trump‘s endorsements loom large over Tuesday’s primary election runoffs in Texas with longtime Sen. John Cornyn facing Trump-pick Ken Paxton.

Cornyn, the Republican who has held a Texas Senate seat since 2002, edged Paxton by a percentage point in the March 3 primary. Neither candidate reached 50% of the vote, necessitating Tuesday’s runoff.

Paxton, Texas’ attorney general, frequently challenged Biden administration policies and was given Trump’s endorsement about one week before the primary election. Trump has called Paxton a “True MAGA warrior.”

The president has also been critical of Cornyn for being on the fence about Trump during his 2016 campaign and saying Trump’s “time has passed him by” in 2024.

The winner of the primary will be set to face Rep. James Talarico, D-Texas, in November.

“It is now time for Texas Republican voters to decide if they want a strong nominee to help our GOP candidates down ballot and defeat Talarico in November, or a weak nominee who jeopardizes everything we care about,” Cornyn said.

As Paxton runs for Cornyn’s Senate seat, the role of attorney general is up for grabs between Rep. Chip Roy, R-Texas, and state Sen. Mayes Middleton. Paxton has held the office of the attorney general since 2014.

Trump has not weighed in on the race between Roy and Middleton. Roy has often backed Trump policies but has broken from the president in key moments, including after the Jan. 6, 2021, attack on the U.S. Capitol. Roy alleged that Trump had committed “clearly impeachable conduct.” He did not vote to impeach Trump for a second time though.

Longtime Democratic Rep. Al Green is being challenged in a runoff election by 38-year-old Christian Menefee on Tuesday. Green, 78, has represented the Houston-area 9th Congressional District since 2005.

Cryptocurrency has become a key issue in the race between Green and Menefee. An industry-aligned super PAC has spent about $5 million in support of Menefee.

May 5 (UPI) — Brian Armstrong, CEO of cryptocurrency exchange Coinbase, announced the company is downsizing about 14% of its workforce.

Armstrong posted a memo to employees on X saying he had made “the difficult decision to reduce the size of Coinbase” by approximately 14%, explaining it is the result of “two forces” that “are converging at the same time.”

The first of the “forces” at play is the current downturn in the crypto market, leading to a “need to adjust our cost structure now so that we emerge from this period leaner, faster and more efficient for our next phase of growth.”

The second reason cited by Armstrong is the rise of AI “changing how we work.”

“All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core,” Armstrong wrote.

Coinbase is scheduled to report its first-quarter earnings on Saturday, with shares up nearly 4% in premarket trading.

The announcement follows other companies including Block, Pinterest, CrowdStrike and Chegg making the decision to cut jobs as a result of AI integration.