Former ethics lawyer says Trump's crypto poses 'clear conflict of interest'
President Donald Trump departs the White House on May 22, 2025, in Washington. Trump traveled to his Trump National Golf Club in Virginia, where he held a dinner for top investors in his $TRUMP cryptocurrency. Kevin Dietsch/Getty Images hide caption
President Donald Trump and his family earned more than $1 billion last year through cryptocurrency ventures and other businesses, according to a 927-page financial disclosure report filed with the Office of Government Ethics.
NPR's Linda Kenyon reports that more than $500 million came from the cryptocurrency venture World Liberty Financial, which was co-founded by Trump family members, while Trump-branded meme coin sales generated more than $600 million. The disclosure also lists more than $50 million from media settlements and millions more from Trump-branded products, including Bibles, sneakers and watches.
The White House denied any financial conflicts of interest. Spokesperson Anna Kelly praised the president for making the U.S. "the crypto capital of the world." Trump also said outside institutions manage his investments and that he does not speak with them.
Former White House ethics lawyer Richard Painter told Morning Edition that federal conflict-of-interest laws would prohibit other executive branch officials from taking similar actions, adding that Trump "stands alone in having such substantial financial conflicts of interest" as president.
Speaking with NPR's A Martínez, Painter discussed the ethics questions surrounding Trump's cryptocurrency earnings, how presidents have traditionally handled their financial holdings and the role blind trusts play in avoiding conflicts of interest.
Listen to the full interview by clicking on the blue play button above.
The digital version was written by Majd Al-Waheidi with contributions from Lindsay Totty.