President Donald Trump’s crypto businesses generated $1.2 billion in revenue last year, according to a federal filing. This amount surpasses the revenue from his vast property portfolio, which took decades to accumulate.
Trump’s Crypto Ventures
Trump’s World Liberty Financial business sold new crypto products, including governance tokens, and earned over $500 million. Another crypto business, CIC Digital LLC, earned over $600 million from sales of souvenir-type meme coins stamped with his face.
Both the tokens and the coins have plunged in value since the sales. The price of the meme coin dropped from $74 to $1.68, and the value of the World Liberty tokens fell by 80% since they started trading.
Trump’s Property Portfolio
Trump’s property portfolio also experienced significant growth, with tens of millions of dollars in fees from new hotel, resort, and condo deals overseas. A property in the United Arab Emirates generated $10.4 million, while one in Saudi Arabia earned $9 million.
Trump took in $77 million from his Mar-a-Lago property in Florida, a 50% increase from the previous year. The disclosure report does not provide profit figures, only revenue.
Regulatory Concerns
Regulators had concerns about the new crypto assets, warning that they offer no ownership stake in the issuing company and are difficult to value. Despite these concerns, buyers, including a Chinese billionaire, invested heavily in the tokens and coins.
Original reporting: WESH Orlando — read the source article.
