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'Brazen Crypto Corruption' Helps Trump Pocket $2.2 Billion During First Year Back in Office
One expert who has studied presidential wealth called Trump's windfall "completely unprecedented" in American history.
Jul 01, 2026
Annual financial disclosures released Tuesday reveal that US President Donald Trump pocketed at least $2.2 billion—more than half of it from his family's crypto grift—during his first year back in the White House, a windfall that experts say is without precedent in American history.
The disclosure report shows that Trump pulled in $635 million in royalties from Celebration Coins, an entity linked to the president's meme coin. The president also disclosed around $527 million in proceeds from token sales by World Liberty Financial, the Trump family crypto venture spearheaded by Eric Trump and Donald Trump Jr.
“It is completely unprecedented,” Megan Gorman, a tax attorney who has studied the history of presidential wealth, told The New York Times of the president's windfall.
Robert Weissman, co-president of the consumer advocacy group Public Citizen, said in a statement that "Trump’s obscene income is driven by various cryptocurrency schemes, leveraging his political position to exploit a scam-driven industry that he once said was nothing more than a racket."
"In doing so, he’s ripping off investors—to the tune of billions—who want to get in on the game with him, or think that buying his crypto products is an innocent means to show their support," said Weissman. "Most troubling, Trump’s personal profit interest has now aligned him with the crypto industry, paving the way for dangerous legislation that will facilitate mass rip-offs and even threaten financial system stability."
Trump's massive profits from an industry he's tasked with regulating represent what the watchdog group Campaign Legal Center (CLC) described as an "unprecedented" conflict of interest, notwithstanding the White House's laughable claim that "neither the president nor his family has ever engaged—or will ever engage—in conflicts of interest."
"We have never seen a president have direct conflicts of interest with his financial holdings and the policies he supports, and it’s another example why we need widespread ethics reform now," Kedric Payne, CLC's senior director of ethics, told The Wall Street Journal.
The Journal noted that, in addition to crypto profits, "Trump reported $4.7 million in income last year from Trump-branded watches, as well as $1.9 million in royalties from his 'Save America' book."
"Multimillion-dollar licensing deals linked to real-estate developers stretched from Romania to India to across the Middle East. A $6,484-a-month pension from the Screen Actors Guild continued paying out," the newspaper observed.
The disclosures also include tens of million dollars in legal settlements stemming from Trump's lawsuits against major companies, including ABC, CBS, and Meta.
Sen. Elizabeth Warren (D-Mass.), the top Democrat on the Senate Banking Committee, said Tuesday that lawmakers must add language to the upper chamber's crypto legislation that prevents "the president, vice president, senior administration officials, members of Congress, and their families from profiting off the crypto industry."
"If it does not," the senator warned, "it will only turbocharge Donald Trump’s brazen crypto corruption."
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'Beginning of a New Phase': Hottest June Ever Recorded for World's Oceans
"With ocean temperatures at these levels and El Niño on the horizon, we are likely to see more temperature records fall in the coming months."
Jul 01, 2026
A new report released Wednesday shows that surface temperatures of the world's oceans hit a record for June, sparking fresh warnings of grave “consequences for weather patterns, global climate and marine ecosystems” across the globe.
The analysis by the European Union’s Copernicus Marine Service, and confirmed by the Copernicus Climate Change Service (C3S), finds that “record global sea surface temperatures” of 21.0° Celsius (69.8° Fahrenheit) in June of 2026 beat the previous record in the same month broken in 2023 and again in 2024.
C3S director Carlo Buontempo warned that the "current conditions" of the oceans "could indicate the beginning of a new phase, leading, once more, to uncharted territory."
"With ocean temperatures at these levels and El Niño on the horizon, we are likely to see more temperature records fall in the coming months," Buontempo warned. "That Copernicus Marine data reaches the same conclusion through independent methods speaks to the strength of European science—and to why open, robust data matters now more than ever.”
According to a statement from Copernicus, warmer oceans have wide-ranging impacts on natural systems and human infrastructure, noting that "higher ocean temperatures keep the atmosphere warm for longer, provide extra energy to storms and increase evaporation, thus enhancing the potential for extreme precipitation and flooding. Ocean warming also contributes to sea level rise and ice melt, and stresses marine ecosystems."
With the onset of a new El Niño cycle—which tends to trigger more pronounced weather events worldwide—the continued increase of ocean temperatures is a serious concern of scientists.
Wednesday's report on ocean temperatures also arrives as record-breaking heat waves hit both Europe and North America, offering more evidence of the perils of an ever-hotter world that is being pushed to the brink by the burning of fossil fuels and the failure of governments worldwide to finally act against the fossil fuel industry that is driving the crisis.
Surging ocean surface temperatures are "not unexpected,” Michael Meredith, an ocean scientist at the British Antarctic Survey, told CNN in response to the Copernicus report. “But the pace of warming we are now seeing is alarming.”
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Another Blow to Democratic Establishment as Melat Kiros Unseats 30-Year Incumbent
“We won tonight, but this is also something so much bigger than this moment," said Kiros, a 29-year-old democratic socialist.
Jul 01, 2026
Melat Kiros, a 29-year-old democratic socialist and first-time candidate, defeated 15-term incumbent Rep. Diana DeGette on Tuesday in Colorado's 1st Congressional District primary, the latest signal that progressive momentum and backlash against the Democratic establishment are spreading nationwide.
"We won tonight, but this is also something so much bigger than this moment," Kiros, who was fired from the law firm Sidley Austin in 2023 for speaking out in support of Palestinian rights demonstrators, told backers late Tuesday after The Associated Press called the race in her favor. "We believe that fundamental change can, and will, happen if we fight for it—if we organize, if we show no fear in standing up for what’s right. That is the message that Denver has sent to both parties, to Donald Trump, and to the entire country."
Kiros' upset win came a week after a series of progressive victories in New York congressional primaries, which sparked backlash from the party's corporate wing. Days after the New York contests, more than a dozen centrist Democrats signed an open letter declaring that "we are capitalist, not socialist," a clear rebuke of insurgent progressives.
Justice Democrats, a national progressive group that backed Kiros, said it is having its "most successful cycle to date, winning six Democratic primaries and proceeding to the top two in two California primaries." The organization recruited Darializa Avila Chevalier, who upset five-term incumbent Rep. Adriano Espaillat in New York's 13th Congressional District last week.
"Melat and our candidates continue winning this cycle because Democratic voters are finally getting leaders acting on their demands to bring the fight to the corporations raising our prices, the war lobbies profiting off endless war and genocide, and the immigration gestapo terrorizing our communities," Alexandra Rojas, Justice Democrats' executive director, said in a statement Tuesday.
Kiros—whose platform includes Medicare for All, universal childcare, and abolishing Immigration and Customs Enforcement—prevailed despite a last-minute torrent of super PAC spending in support of DeGette. Drop Site reported that "super PACs funded by AIPAC and major big tech donors have poured roughly $2 million behind Rep. Diana DeGette on the eve of her contentious primary."
"Across the country, voters are rejecting corporate politics and electing candidates willing to take on billionaire influence, confront the climate crisis, fight for working people, and speak with moral clarity on the defining issues of the moment," said the youth-led Sunrise Movement following Kiros' win.
Kiros will be the heavy favorite to win the general election in November, when she will face Republican Christy Peterson.
Progressives also celebrated Colorado Attorney General Phil Weiser's Democratic gubernatorial primary win over US Sen. Michael Bennet, whose campaign received nearly $3 million in support from billionaire former New York City Mayor Michael Bloomberg.
“This movement is what democracy looks like,” Weiser told supporters late Tuesday. “You all sent a very clear message: The future of Colorado will not be decided by out-of-state billionaires, by corporations or special interests. Colorado’s future belongs to all of us."
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