Trump Says He Didn’t Check Size of $1.4 Billion Crypto Windfall, Denies Wrongdoing

President Donald Trump said there was nothing illegal about reports that he made nearly $1.4 billion from cryptocurrency businesses while in office, adding that he did not separately verify the size of the gains.

CNBC reported on July 2 that Trump, speaking in an interview from the Oval Office, was asked about making about $1.4 billion from crypto ventures last year. “I could know about it. I didn’t,” he said.

Trump also dismissed criticism over a potential conflict of interest. “I did nothing wrong,” he said. “What I did do is build an industry. We built a very strong industry, and America is now leading it. If we didn’t do it, China would have.”

The Washington Post previously reported, citing Trump’s financial disclosure documents, that he declared more than $1.4 billion in income from crypto businesses last year. The newspaper described it as one of the largest increases in assets recorded by a sitting US president during a term in office.

The disclosures show Trump received $635 million in royalties from a licensing deal for CIC Digital’s Celebration Coins. He also reported $525 million in proceeds from token sales by World Liberty Financial, or WLFI, established by the Trump family, and another $65 million from selling his stake. Trump also disclosed $196 million in profit from transactions related to the dollar-denominated stablecoin USD1.

Prices for some Trump-linked crypto assets have fallen sharply. Official Trump, or TRUMP, dropped from $74 in January 2025 to $1.72 on July 1, 2026. The WLFI token fell from $0.45 in August 2025 to $0.05 at the end of June 2026. By contrast, about $4.5 billion of USD1 is currently in circulation.

CBS News also reported on July 2 that Trump’s tax burden on the crypto income could reach hundreds of millions of dollars. Experts said the actual taxable amount and tax bill are difficult to calculate because the ownership structure of the businesses and the way the profits are allocated have not been disclosed. Omri Marian, a law professor at the University of California, said Trump had clearly made large profits, but the ownership structure remained unknown. “It’s like looking into a black box,” he said.