Summary
- Treasury Secretary Scott Bessent said he does not view President Donald Trump’s large cryptocurrency gains as a conflict of interest.
- Financial disclosure filings show Trump generated about $1.4 billion in profits through the meme coin Official Trump (TRUMP) and World Liberty Financial (WLFI), among other ventures.
- Bessent said the benefits of technological innovation, including digital assets and AI, will be shared by all Americans.
Forecast Trend Report by Period
Treasury Secretary Scott Bessent said he does not view President Donald Trump’s sizable cryptocurrency profits as a conflict of interest.
In an interview with CBS News on July 3, Bessent said Trump’s disclosure of crypto-related income did not appear problematic "on its face."
Previously disclosed financial filings show Trump has earned about $1.4 billion since taking office through the meme coin Official Trump (TRUMP) and World Liberty Financial (WLFI), among other ventures.
Democrats have criticized the arrangement as a potential conflict of interest as the Trump administration moves to loosen cryptocurrency regulations.
Bessent said the administration is focused on innovation and that all Americans will benefit from technological advances, including digital assets and artificial intelligence.
The White House has previously said there is no conflict of interest.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.