President Donald Trump has reported earning over $635 million from cryptocurrency deals in his second term. On Tuesday (June 30), Trump disclosed these earnings in a nearly 1,000-page financial document. The report reveals that Trump made this money through a licensing deal involving "meme" coins bearing his name, which pushed his total cryptocurrency holdings past $1 billion.
The financial disclosure also highlights Trump's involvement in other ventures, such as buying and selling stock in GEO Group, a private prison company. Trump did not divest his assets or place them in a blind trust before taking office, unlike previous presidents. His administration has been criticized for potential conflicts of interest, though the White House denies these claims.
NBC News reports that Trump's total crypto earnings reached approximately $1.4 billion during his first year back in office. The president has been a strong advocate for loosening cryptocurrency regulations, making it a key part of his presidency.
Additionally, the disclosure shows that Trump made significant investments in the GEO Group shortly after his inauguration, with purchases ranging from $143,000 to $445,000. These investments coincided with an increase in immigrant detainees from 35,000 to nearly 70,000.
Despite facing bipartisan criticism, the Trump Organization maintains that the president's financial dealings are transparent and in the best interest of the American people. The disclosure also includes other notable earnings, such as legal settlements and income from his golf and club properties.