[Text/Observer Network Liu Chenghui] "The most serious conflict of interest in history" "The era of extortion economy has officially begun"... Despite being widely criticized by all sides, the Trump family still acted on its own and did well in the cryptocurrency field.

On June 13 local time, Trump's second financial report for his first term as president showed that he earned $57.7 million (approximately RMB 414 million) from token sales of a cryptocurrency company co-founded with his sons last year.

Previously disclosed data showed that the Trump family had ventured into non-fungible tokens (NFTs), Bitcoin mining, releasing personal cryptocurrencies, and other businesses, generating nearly $1 billion in book profits through these projects.

According to Bloomberg, this 230-plus-page declaration document details Trump's shareholdings, dividend income, real estate, investment portfolios, and other assets. The document is dated June 13, 2025, published by the U.S. Office of Government Ethics (OGE), aiming to "prevent conflicts of interest within the executive branch."

However, this financial report does not specify the exact time period covered. Detailed information about the cryptocurrency list and other disclosed information suggest that the cutoff date for this financial report is December 31, 2024, which will exclude the majority of funds raised by the Trump family's cryptocurrency ventures.

The report discloses the operation of Trump's vast business empire, with revenues covering hotels, golf resorts, and cryptocurrency enterprises totaling hundreds of millions of dollars.

Of this, $57.7 million came from a cryptocurrency company named "World Liberty Financial." The company was founded before last year's election. According to the company's website, Trump and his three sons, Donald Jr., Eric, and Barron, are all joint founders.

He also reported holding 15.75 billion governance tokens of the company. Governance tokens are a special type of cryptocurrency that grants holders the right to participate in decision-making for blockchain projects or decentralized autonomous organizations (DAOs).

However, this income is not the largest source of Trump's private assets. His company "Trump Endeavor 12," which owns the Miami golf resort, generated $110 million in revenue last year; the Mar-a-Lago Club produced over $50 million in vacation-related income.

At a White House press conference on January 21, Trump did not directly deny the claim of earning billions of dollars from issuing coins but said that these amounts were small change for tech billionaires.

It is worth noting that federal officials need to declare asset valuations within broad intervals, with "$50 million or more" being the highest tier, so personal net worth cannot be calculated based on this. For example, the actual market value of Trump Media is currently $2.2 billion.

In January, just three days before being inaugurated as President of the United States, Trump launched the "Trump Coin ($TRUMP)," which instantly caused a sensation in the market, with its market value skyrocketing by billions of dollars overnight. As the "Trump Coin" gained popularity, Melania Trump, Trump's wife, also launched the "Melania Coin ($MELANIA)." These two digital currencies are both created and tracked on the Solana blockchain.

The Washington Post once blasted the "Trump Coin" as a scam, becoming the simplest and most convenient way to curry favor with the U.S. President, officially ushering in a new era of the "extortion economy." Because people buying "Trump Coins" such meme coins are not interested in using them to buy food, haircuts, or remittances; they do so because they believe someone might be willing to pay a higher price for them in the future, which sounds like a "high-end Ponzi scheme."

The "Trump Coin" website shows that currently 80% of the "Trump Coins" in circulation are owned by two companies associated with the Trump family—CIC Digital and Fight Fight Fight.

CIC Digital earned $1.1 million last year and holds at least $1 million worth of Ethereum cryptocurrency wallets. Since Fight Fight Fight LLC was established in January, it was not included in the disclosure range covering 2024.

Trump has always been supportive of cryptocurrencies, and his two elder sons are also actively involved in this field. As president, he further promoted several policies related to cryptocurrencies, including appointing Paul Atkins, a supporter of cryptocurrencies, as chairman of the Securities and Exchange Commission (SEC) and establishing a "strategic reserve fund" managed by the federal government, which includes bitcoins seized by law enforcement agencies.

Vice President Vance publicly stated at the "Bitcoin 2025" conference held in Las Vegas in late May that "the crypto industry now has a true ally and advocate in the White House."

The declaration documents also list Trump's hundreds of trademarks worldwide, detailing his private investments outside his commercial empire and those of First Lady Melania.

Trump listed 11 outstanding debts in the documents, including two award rulings won by author Jean Carroll (E. Jean Carroll) in her defamation lawsuit for sexual assault and debts generated by 34 felony convictions in a criminal fraud case, which have been suspended due to Trump's appeal.

Trump did not list any debts owed to lawyers or law firms due to criminal/civil litigation. These fees were mostly paid by his "Save America" political action committee.

The documents disclose that Trump has seven outstanding real estate loans (including mortgages on Trump Tower, the National Doral Resort, and a mortgage on Wall Street 40 worth more than $50 million) and at least $15,000 in American Express credit card debt.

The documents also disclose that Trump earned substantial income from various global licensing businesses and merchandise sales—including $2.8 million from watches, $2.5 million from perfumes and sneakers, etc. He also receives copyright royalties from his personally branded Bible editions and earned $1.16 million from his personal NFTs (non-fungible tokens).

In addition, Trump receives a monthly pension of $6,484 from the Screen Actors Guild (SAG), with cumulative earnings during the reporting period totaling $84,292.

Furthermore, the asset declarations of Vice President Vance and his wife Usha show that they hold at least $6.5 million in assets.

This article is an exclusive piece by the Observer Network and cannot be reprinted without permission.

Original: https://www.toutiao.com/article/7516083096752620066/

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