Crypto, wallets, bibles: Trump's assets top $1.6 billion in latest disclosure
Why it matters: Trump continues to pursue wealth-building avenues tied to his political agenda as Democrats continue to allege massive conflicts of interest.
Driving the news: The Trump Organization announced a phone business as its next venture on Monday, on the 10th anniversary of Trump announcing his first White House run.
By the numbers: Trump reported more than $600 million in income from his cryptocurrency venture and a broad range of merchandise, according to financial documents released on Friday, the first disclosure of his assets since he returned to the White House.
According to a Reuters calculation, Trump reported assets worth at least $1.6 billion.
Trump disclosed a massive $57 million token sale through WLF Holdco LLC, which owns World Liberty Financial Inc., a Trump family crypto company for which Trump serves as "Chief Crypto Advocate."
What they're saying:"President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," White House press secretary Karoline Leavitt said in a statement to Reuters. "The Trump Administration is committed to transparency and accessibility for the American people."
Trump's crypto-friendly second-term has raised concerns from progressive Democrats about Trump's own financial stake in crypto, which stands to benefit from pending legislation.
The other side: Concerns over the Trump family's crypto ventures have stalled passage of the bipartisan GENIUS Act, the Senate's first-ever stablecoin regulation.
Some Democrats raised concerns after the New York Times reported that President Trump's family members could profit from the $2 billion deal of their stablecoins that would be used for a foreign transaction involving an Abu Dhabi investment fund.
Merch has also been a boon for the president.
Licensing deals that Trump has with companies selling products using his name and likeness translated to millions of dollars in royalties.
That includes more than $1.3 million from Lee Greenwood's "God Bless the USA" Bible. Trump, while campaigning in 2024, asked supporters to purchase the Bible – for $59.99 per copy – to "make America pray again."
Trump also netted $2.5 million from Trump sneakers and fragrances, $2.8 million selling Trump watches, and more than $1 million on a "45" guitar.
What we're watching: The president's phone venture, "Trump Mobile," is up next.
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