White House rejects conflict-of-interest concerns as Trump’s crypto earnings soar – US politics live | Trump administration
White House denies conflict of interest concerns as Trump earns $1.2 billion from crypto startups in 2025
Hello, welcome to the live blog of US politics.
The White House said Donald Trump “proudly made the United States the crypto capital of the world” after the president’s family earned nearly $1.2 billion in income from cryptocurrency activities.
The president and his family invested heavily in digital currency and various crypto businesses during his second term, resulting in a significant increase in his income.
Trump received nearly $550 million in 2025 from his ties to a startup called World Liberty Financial, according to a 927-page document released Tuesday by the U.S. Office of Government Ethics.
World Liberty Financial (WLF) was co-founded in September 2024 by Trump’s sons and the son of Trump’s special envoy for the Middle East, Steve Witkoff.
Press secretary Anna Kelly dismissed ethical concerns in a statement to AFP, saying, “Neither the president nor his family have ever had, nor will they have, a conflict of interest.”
Kelly said Trump “proudly made the United States the crypto capital of the world.”
“All actions by President Trump and his administration are undertaken in the best interest of the American people — and so-called reporters who press otherwise are simply rehashing the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade,” Kelly added.
The filings also mention $635 million in royalties received under a licensing agreement related to the $TRUMP cryptocurrency that was launched just hours before the president’s inauguration in January 2025.
According to Forbes, the president’s crypto activities are the main reason for the near tripling of his personal wealth, rising from $2.3 billion to $6.5 billion between 2024 and 2026.
Read the full story here:
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Meanwhile, the court upholds laws in two conservative states that ban transgender girls and women from competing in women’s sports It’s a far-reaching decision that is likely to pave the way for similar bans across the US and hand Trump a significant “culture war” victory. More here.
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important events
Trump to attend Roosevelt Library opening at a time when preservation efforts falter
Dharna Noor
Critics say Donald Trump will celebrate the legacy of a president his own administration sought to destroy at Wednesday’s ribbon cutting for the new Theodore Roosevelt Presidential Library.
While in office from 1901 to 1909, Roosevelt established five new national parks, protected large tracts of land, and adopted legislation Allowing him and future presidents to declare historic landmarks and other federally owned objects of historical or scientific significance as national monuments.
Critics say, by contrast, the Trump administration has stripped protections for wildlife.
Trump’s interior secretary, Doug Burgum, for example, while in office, rolled back protections under the Endangered Species Act, as well as protections for migratory birds and federal water districts.
“Roosevelt believed it was a sacred obligation to protect America’s natural heritage and inherent rights to the outdoors,” said Jayson O’Neill, spokesman for the Protect Our Parks conservation campaign. “Doug Burgum is destroying that legacy at the whims of Trump, his allies, and his political donors.”
The Guardian has contacted the Home Office and the White House for comment.
Jessica Glenza
Nearly 500,000 middle-income New Yorkers will be removed from health insurance plans on July 1; This is the first of major coverage losses expected as a result of the Republican-led H.R. 1 law signed almost exactly a year ago.
Sometimes called the “One Big Good Bill Act,” the law reduced government healthcare spending by 100 percent. $911 billion Nationally, he favors permanent tax cuts for high-income families and border security.
“This is an all-hands-on-deck situation,” said Maia Dillane, senior director of strategy and implementation at the Arab-American Family Support Center (AAFSC) in New York City, where most of this summer’s insurance losses are expected.
AAFSC is one of 20 community-based organizations working with the New York Community Service Association to find new health insurance for people.
But even as community organizations work to a deadline (people must find new coverage within 60 days or wait until “open enrollment” in November), they expect many won’t be able to afford the new costs.
California Governor Gavin Newsom said Donald Trump has “enriched” his cryptocurrency activities while his supporters have been “wronged.”
In a post about X, Newsom wrote:
Trump’s financial disclosures showed exactly how the crypto game works: He got richer.
Crypto supporters have been treated unfairly.
Democratic socialist Melat Kiros defeats 15-term incumbent in Colorado House primary
Chris Stein
Democratic socialist Melat Kiros unseated long-serving U.S. Rep. Diana DeGette in Tuesday’s Colorado primary, the latest in a series of high-profile victories by the party’s insurgent left.
The Associated Press reported that Kiros defeated DeGette for the Democratic nomination in the dark blue first congressional district based in Denver. Cyrus’ victory came a week after New York voters unseated two Democratic members of Congress and replaced the third, who retired, with candidates who campaigned to stand up to Israel despite accusations that Israel is committing genocide in Gaza.
His success in the solidly Democratic 1st District earned him election in November.
Kiros, 29, was born in Ethiopia in 1997 (the same year DeGette came to Congress) and graduated from the University of Notre Dame law school in 2022. The following year, he wrote a blog post rejecting accusations that law students who protested Israel’s counter-offensive after October 7 were anti-Semitic. The New York law firm where Kiros worked fired him after Kiros refused to quit his job, and he entered politics.
After announcing his candidacy for Congress, Cyrus received support from progressive senator Bernie Sanders as well as the Democratic Socialists of America and Justice Democrats, progressive groups in New York’s primary.
White House denies conflict of interest concerns as Trump earns $1.2 billion from crypto startups in 2025
Hello, welcome to the live blog of US politics.
The White House said Donald Trump “proudly made the United States the crypto capital of the world” after the president’s family earned nearly $1.2 billion in income from cryptocurrency activities.
The president and his family invested heavily in digital currency and various crypto businesses during his second term, resulting in a significant increase in his income.
Trump received nearly $550 million in 2025 from his ties to a startup called World Liberty Financial, according to a 927-page document released Tuesday by the U.S. Office of Government Ethics.
World Liberty Financial (WLF) was co-founded in September 2024 by Trump’s sons and the son of Trump’s special envoy for the Middle East, Steve Witkoff.
Press secretary Anna Kelly dismissed ethical concerns in a statement to AFP, saying, “Neither the president nor his family have ever had, nor will they have, a conflict of interest.”
Kelly said Trump “proudly made the United States the crypto capital of the world.”
“All actions by President Trump and his administration are undertaken in the best interest of the American people — and so-called reporters who press otherwise are simply rehashing the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade,” Kelly added.
The filings also mention $635 million in royalties received under a licensing agreement related to the $TRUMP cryptocurrency that was launched just hours before the president’s inauguration in January 2025.
According to Forbes, the president’s crypto activities are the main reason for the near tripling of his personal wealth, rising from $2.3 billion to $6.5 billion between 2024 and 2026.
Read the full story here:
In other developments:
-
US Supreme Court upholds constitutional guarantee of birthright citizenshipIt affirms that nearly all people born on US soil are American citizens and rejects the central premise of Donald Trump’s anti-immigrant agenda. Chief Justice John Roberts, writing for the majority, said the order violated the 14th amendment of the U.S. constitution. More here.
-
Meanwhile, the court upholds laws in two conservative states that ban transgender girls and women from competing in women’s sports It’s a far-reaching decision that is likely to pave the way for similar bans across the US and hand Trump a significant “culture war” victory. More here.
-
Supreme court to consider whether bans on AR-15 rifles and similar semi-automatic firearms are constitutional. The justices said Tuesday they will next hear appeals challenging the bans in Connecticut and the Chicago area. The high court’s announcement follows two recent victories for second amendment lawyers and advocates. More here.
-
Trump announced that Republicans will hold their first national convention before the midterm electionsIt’s a move aimed at mobilizing voters at a time when the party is struggling to maintain its narrow congressional majority in November. The two-day meeting will take place in Dallas on September 9 and 10 and will mark a break from the long-standing tradition of holding national conventions only in presidential election years. More here.
