AP: Trump received about $1.2 billion in income from crypto business

According to AP, more than $500 million came from World Liberty Financial, which sold new crypto products, including governance tokens. Another more than $600 million was brought in by the CIC Digital LLC structure associated with the sale of so-called meme coins with Trump’s image. After the initial sales, the value of these tokens and coins plummeted and many investors suffered losses.

The 927-page financial report also shows income from sales of branded merchandise, including Bibles and watches under Trump’s name, as well as from overseas real estate deals. Among such projects, AP names transactions in the UAE, Saudi Arabia, Qatar, Romania and Vietnam – including in countries conducting sensitive negotiations with the US administration.

Questions have been raised about a possible conflict of interest since Trump’s administration has changed its approach to regulating the crypto market since Trump returned to the White House. The White House denies the allegations, saying the president’s businesses are run by his sons and the administration’s decisions are made in the interests of Americans.