WASHINGTON — President Donald Trump defended his 2025 personal financial disclosures, saying he does not manage his own investments and attributing his financial gains to a strong U.S. stock market after filings showed he reported more than $1.4 billion in income from his family's cryptocurrency ventures.
Speaking to reporters before departing Joint Base Andrews on July 1, Trump rejected criticism that he was personally benefiting from the presidency, saying outside managers oversee his investments.
"I don't get involved ... We have funds that run my money," Trump said. He added that rising markets had benefited many investors, saying, "You know why I'm profiting? Because the stock market's going up, everybody's profiting."
The annual financial disclosure, filed with the U.S. Office of Government Ethics, detailed Trump's finances for calendar year 2025. The filing showed companies tied to Trump received nearly $800 million from World Liberty Financial, a cryptocurrency venture co-founded with his sons. According to the disclosure, that included more than $520 million from token sales and more than $250 million from the sale of interests in the business, with Trump sharing the income with family members.
The extensive filing also disclosed significant holdings in cryptocurrencies alongside traditional investments, including stocks, bonds and exchange-traded funds. A Reuters review found Trump's investments in conventional financial assets expanded substantially during 2025 even as he and members of his family continued promoting cryptocurrency-related businesses.
The disclosures prompted renewed scrutiny from ethics advocates, who have argued that a sitting president's financial interests in businesses potentially affected by federal policy could create conflicts of interest. The White House and the Trump Organization have maintained that Trump's assets are managed independently and that investment decisions are made by outside financial managers rather than by the president himself.
Independent analysts noted that while rising equity markets likely increased the value of portions of Trump's portfolio, the disclosures indicated that cryptocurrency-related ventures accounted for a substantial share of his reported 2025 income. Fact-checking organizations and financial analysts have said the filings show crypto earnings exceeded gains attributable solely to stock market performance.
The Office of Government Ethics requires senior executive branch officials, including the president, to submit annual financial disclosure reports detailing assets, income, liabilities and certain transactions. The 2025 filing remains the latest official disclosure of Trump's personal finances.
