Trump invests cryptocurrency proceeds in traditional financial markets, not Bitcoin

Trump made more than $1.4 billion in 2025 through crypto businesses linked to his family, but his latest wealth report shows that most of his money is in stocks and bonds. Although Trump, Donald Trump Jr. and Eric Trump promoted digital asset projects to investors, many retail buyers later suffered heavy losses.

At the same time, the president's financial manager is investing a large portion of his growing wealth in markets that are typically less volatile than cryptocurrencies.

The report submitted to the U.S. Office of Federal Ethics lists revenue from World Free Finance and Trump's memin. The report also showed that as of the end of 2025, Trump's stock and bond portfolio was worth between $703 million and $2.6 billion. At the end of 2024, the value of the same set of assets ranged from US$225 million to US$608 million. The lower limit alone more than tripled, while the entire portfolio grew at least fourfold during the year.

Trump expands his Wall Street portfolio while holding billions of crypto tokens. Federal disclosure forms use broad value ranges rather than precise totals. This makes it impossible to track every token sale or crypto payment flowing to a specific stock, bond or fund. The comparison covers two years of disclosures, including assets held directly and interests managed through Trump-related companies. However, no precise transfer from crypto payments to specific stocks or bonds has been identified.

Nine digital asset experts reviewed the filings and changes over the past two years. Their interpretation is simple: Trump still owns a large amount of cryptocurrency, but he does not seem to use it as the main storage of personal wealth. The largest increase he reported came from traditional investments, while his family made huge income from the token business.

Trump also reported that he did not buy shares in two publicly traded crypto companies backed by Eric and Donald Jr. The records reviewed did not identify these companies. However, his filings show that his overall exposure to digital currencies is much greater through tokens and company holdings.

As of the end of 2025, Trump has 15.75 billion world freedom governance tokens worth more than US$50 million. He received the tokens for his role in the company he co-founded with his son. His distribution has a longer vesting period than the schedule of ordinary buyers, so he cannot sell these personal tokens as quickly as the public.

Companies that handle Trump's stake in World Free Finance and Trump's memin held at least $160 million in bitcoin and ether by the end of the year. They also have up to $6 million in other tokens. This is much higher than the US$1 million to US$5 million Ethereum listed in his 2024 filing. These numbers cover his personal accounts and the entities that manage his business interests, so crypto exposure includes direct tokens and assets held by Trump Corporation listed in the filing.

Senate Democrats urge the Republican committee to review foreign crypto investors. On Friday, five senior Democrats called for a hearing after Trump's 2025 report was released on June 30. Senators asked the Republican-led committee to consider the possible national security risks posed by foreign investment in the family's crypto activities.

The request came from Elizabeth Warren of Massachusetts, Richard Blumenthal of Connecticut, Gary Peters of Michigan, Dick Durbin of Illinois and Ron Wyden of Oregon.

The senators said in a statement: "These disclosures add to concerns that the president is pushing Congress to pass crypto legislation that benefits the industry in which he is making money, the administration's actions to exempt cryptocurrencies and service providers from existing financial services regulations, and its steps to weaken enforcement, including the dissolution of the Department of Justice's national cryptocurrency enforcement team."

In the letter, lawmakers wrote that the family's crypto businesses generated "the vast majority of revenue" for Trump during his first year of his second term, and estimated Trump's gains from these businesses at approximately $1.4 billion.

Their problems center on world free finance, an enterprise that has brought hundreds of millions of dollars to Trump. Senators cited reports that a group linked to United Arab Emirates national security adviser Sheikh Tahnoun Bin Zayed Al Nahyan had purchased a 49 percent stake in the company.

Trump's filing also mentioned unnamed "third parties" but did not specify specific names. "We call on our respective committees to hold hearings to investigate the national security implications of President Trump's cryptocurrency holdings, including the impact of the United Arab Emirates or unknown third parties on President Trump's actions," the senators said.