Cryptocurrencies have become one of the main fronts of ethical questioning for the president of the United States, donald trump. As new details become known about the millionaire profits obtained by his family and some of his closest collaborators in this sector, criticism grows about possible conflicts of interest between the president’s private businesses and the decisions of his administration.
The controversy was revived this week following the disclosure of the financial statements of Steve Witkoffone of Trump’s most influential advisors and current special envoy for the Middle East and for negotiations related to the war in Ukraine.
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According to documents revealed by American media, Witkoff obtained about 107 million dollars during the last year through a company affiliated with World Liberty Financialthe cryptocurrency company he founded alongside Trump and members of both families. Of that total, around 69 million were received in cash and another 38 million in digital assets.
These figures fuel a debate that has haunted the Republican administration since its return to the White House: to what extent businesses linked to the crypto ecosystem can benefit of the policies promoted by the Government itself.
World Liberty Financial, Donald Trump and Steve Witkoff’s cryptocurrency company Photo:Particular
Faced with this controversy, the White House has rejected any irregularity and in statements to the American media, he assured that Witkoff no longer has any involvement in the company and that his previous business activities are not related to the diplomatic efforts he carries out on behalf of the president.
However, the questions are not limited to one of the main presidential advisors, and also they directly reach Trump.
At the beginning of July, The president publicly defended the profits obtained by his family’s cryptocurrency businesses during 2025. According to data from the United States Office of Government Ethics, Trump received nearly $550 million related to World Liberty Financial.
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At that figure another 635 million dollars are added coming from royalties associated with the $TRUMP cryptocurrencywhich was released hours before his presidential inauguration. The financial statement showed that Trump also made millions with a series of sales of branded merchandise products, including stickers for bumpers and bibles.
In total, the income linked to digital assets would have exceeded 1 billion dollars, becoming one of the main drivers of the growth of the president’s personal fortune. However, for Trump this is due to his career as a businessman and the behavior of the markets: “Do you know why I’m making profits? Because the stock market is going up,” the president emphasized.
Steve Witkoff, left, and Benjamin Netanyahu, right. Photo:EFE
“Everyone is making profits“Trump insists, while defending the supposed bonanza of his mandate. However, according to Chainalysis, a cryptocurrency analysis company, about 764,000 wallets lost money with $TRUMP, and those who reported profits were those who withdrew in time, before the cryptocurrency prices fell.
On the other hand, the leader of the Republicans has insisted that there is no conflict of any interest. As he explained, his assets are under the administration of trusts that manage his investments without his direct intervention. “I don’t get involved in my finances. personal,” the president said then. “I have made a lot of money before of being president.”
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Even so, criticism persists for various reasons.
The first is that World Liberty Financial was created by family members of Trump and Witkoff, two figures with privileged access to political power in Washington. At the moment, the company remains under control of members of both families.
The second has to do with regulation. Since his return to the White House, Trump has promoted a favorable agenda to cryptocurrencies, promoting deregulation measures and even presenting the United States as the future “world capital” of these assets. For his detractors, These government decisions could favor directly or indirectly businesses in which the president and his entourage participate.
Trump has pushed a pro-cryptocurrency agenda, promoting deregulation measures. Photo:Donald Trump, US president
Meanwhile, Trump defenders argue that the president was already a billionaire before returning to power and maintain that the cryptocurrency industry has benefited due to the economic context and the political support that the sector has received.
The truth is that over the course of 2024 to 2026, cryptocurrencies were the main reason about what his personal fortune has tripledfrom almost 2.3 billion dollars to 6.5 billion, according to Forbes.
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For members of the opposition, such as Alexandra Ocasio-Cortezthis personal enrichment by the Trump administration puts in clear opposition to well-being of our nation and its people. The opposition congresswoman supported her accusation by pointing out the use of privileged information and corruption “of this administration, which They have taken advantage of this chaos —from cryptocurrencies to predictive trading markets.”
The controversy also reflects a change in American politics, since the growing weight of cryptocurrencies has moved the debate that previously revolved around other “more traditional” businesses, towards a less regulated, more opaque industry with an increasing capacity to generate multi-million dollar fortunes in a short time.
Juan Alejandro Motato Soto
International Editorial – EL TIEMPO
