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.