U.S. President Donald Trump wants Congress to pass the CLARITY Act soon. But then, there is the matter of the people close to him having made serious money off crypto lately, thereby presenting a conflict.
Trump crypto’s conflict of interest worth $1.4B
Trump made $1.4 billion from crypto last year [for context, that’s more than his entire real estate empire], and that is the awkward part that no one in Washington wants to talk about.
Now, he’s pushing Congress to pass the CLARITY Act; the bill that would set the rules for the whole industry, by September 15, but Democrats are not sold on it. They want the bill to come with real ethics rules that actually address the president’s own crypto holdings, and unless it does, they are not backing it.
Enter Steve Witkoff
Disclosures from President’s special envoy for the Middle East and Ukraine, is where we begin to see more layers to the story.
His financial filing shows nearly $107 million in income last year from a holding company tied to World Liberty Financial. That is the crypto arm co-founded by Witkoff’s own son and Trump’s three sons.
About $69 million of that came as cash, another $38 million in crypto, and it’s more than 3x what he reported from the same entity a year earlier. All told, Witkoff’s 2025 disclosure puts him at over $400 million in assets, including a separate $120 million from selling off his stake in his real estate firm.
The White House claims Witkoff has “fully divested” and that none of this touches his day job negotiating peace deals in the Middle East and Ukraine. But how the whole things look to those observing is hard to explain.
In other news, World Liberty is now trying to launch its own bank, backed in part by a fund connected to the UAE’s national security adviser. This is someone Witkoff has met with directly as an envoy.
The venture has also drawn scrutiny for teaming up with a Hong Kong AI platform running Chinese models.
Final Summary
- Trump made $1.4 billion from crypto in 2025. Democrats want ethics rules before passing the CLARITY Act.
- Special envoy Steve Witkoff disclosed $107 million tied to a company linked to WLFI.
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