Trump Addresses His Family’s Crypto Ventures Following $1.4 Billion Earnings

President Donald Trump has addressed the recently reported crypto earnings linked to his family’s business dealings.

In an interview with CNBC that aired July 2, the president was asked whether he was aware of his family’s cryptocurrency ventures amid alleged conflicts of interest after his latest financial disclosure showed he has earned more than $1.4 billion from them since returning to the White House.

“I could know about it. I didn’t, I mean, there’s nothing illegal, there’s nothing wrong with it. I could know,” he told the news outlet.

The filing, released on June 30, shows that Trump-affiliated companies received nearly $800 million from World Liberty Financial, a cryptocurrency business cofounded by Trump and his sons. That total included more than $520 million from crypto token sales and more than $250 million from the sale of ownership stakes in the company. Trump also reported an additional $635 million from the sale of his Trump-themed meme coins.

The president has introduced several policies viewed as favorable to the cryptocurrency industry after his return to the White House last year, including federal regulations for stablecoins and reduced enforcement actions by the Department of Justice and the Securities and Exchange Commission.

Trump said he considers cryptocurrency-related issues in light of U.S. competition with China, comparing cryptocurrency to artificial intelligence.

“The way I view crypto’s a little differently, we have to be at the top, otherwise China’s going to take it over. Like, for instance, AI, we’re leading substantially in AI over China and everybody else,” the president said.

“And the way I look at AI, or the way I look at crypto, is if we’re not going to do it, China’s going to get it, most likely China—or somebody else.”

When it came to his business dealings, Trump said he had entrusted his children with managing his business and investments.

“I don’t do anything having to do with my business. My kids run it,” he said.

“I don’t even know who they are, but it’s given to big firms like that are on your show all the time. My son Eric handles it. I don’t talk to him about things such as this. I think I’d be allowed to. I’m not sure even what the status is, but I don’t. And he gives it into these like semi-blind trusts, or blind trusts, where people invest.”

The president also noted that the stock market had “gone up so much” since he took office, which had helped boost his business income.

Trump acknowledged that any business decisions by his children would come under scrutiny for potential conflict of interests.

“I feel badly in a way for my kids. Because everytime my kids do, if they invest in a stock, or they go and do a bill, anything they do, because the presidency is so powerful, so big, everything, if they buy a cupcake company, well, the energy to make the cupcakes is sort of like, how’s my energy policy, so therefore you have a conflict,” he said.

“I tell my kids, stay away from as much as you can stay away from, but they also have a life. They were doing business long before I ever thought of, you knew me a long time before I thought of even running.“

Outside of cryptocurrency, Trump reported earning more than $80 million from legal settlements with media companies and $52 million from licensing his name to international real estate developments, much of which came from projects involving Middle Eastern partners.

Jackson Richman contributed to this report.