US President Donald Trump has defended earning an estimated $1.2 billion from his family's cryptocurrency ventures while in office, insisting that his financial gains reflect broader market growth rather than an abuse of power.Speaking to reporters on Wednesday, July 1, before boarding a new Air Force One aircraft gifted by Qatar, Trump rejected allegations that he was using the presidency for personal enrichment. "You know why I'm profiting, because the stock market's going up, everybody's profiting," Trump said.Responding to questions about the ethics of his earnings, the president said his personal finances are managed through blind trusts, preventing him from directly influencing investment decisions. "I don't get involved in my personal (finances), we have funds that run my money," he said. "I've made a lot of money before I became president, and they invest my money, and I don't talk to them."Trump also argued that his wealth was built long before returning to the White House, despite the reported earnings being linked to cryptocurrency ventures launched during his second term. "I don't know if I've had a better career in politics or business, but I had a great career in business, and you know, you saw the cash, and you report the different things," he said. "So we're all profiting. I'm profiting because I have a lot of money and a lot of cash."According to financial disclosure documents released on Tuesday by the US Office of Government Ethics, Trump received nearly $550 million in 2025 through his association with the cryptocurrency startup World Liberty Financial.World Liberty Financial was co-founded in September 2024 by Trump's sons and the son of Steve Witkoff, the president's Middle East special envoy. The 927-page disclosure also reported that Trump earned approximately $635 million in royalties under a licensing agreement linked to the $TRUMP cryptocurrency token, which was launched shortly before his inauguration in January 2025.The disclosures indicate that Trump's cryptocurrency interests have significantly increased his personal wealth. According to Forbes, his net worth rose from about $2.3 billion in 2024 to $6.5 billion in 2026, largely driven by the value of his crypto-related holdings.Since returning to office, Trump has introduced policies aimed at reducing regulation of the cryptocurrency industry, a move that has contributed to rising asset prices. The White House has defended the administration's approach, saying Trump has "proudly made the United States the crypto capital of the world."The post Trump defends earning more than $1bn on crypto appeared first on Linda Ikeji Blog.
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