In Washington, President Donald Trump convened a meeting with cryptocurrency and prediction‑market executives at the White House on Wednesday to discuss the administration’s upcoming regulatory framework for digital assets. The gathering comes as the president’s own financial disclosures reveal nearly $1.5 billion in cryptocurrency earnings last year, including $800 million tied to World Liberty Financial and $635 million from the Trump Meme Coin.
Public opinion questions the propriety of presidential crypto profits
A Reuters/Ipsos poll released the same day found that about 66 percent of Americans believe it is inappropriate for Trump and his family to earn money from cryptocurrency while he holds office. The sentiment crosses party lines, with roughly three‑in‑ten Republicans sharing the concern.
Ethics experts warn of a conflict of interest
Richard Painter, former chief ethics lawyer for President George W. Bush, said the overlap between the president’s public duties and his private crypto investments raises a clear conflict of interest. Painter noted that federal conflict‑of‑interest statutes apply to most executive‑branch officials but exempt the president and vice president, leaving limited formal recourse.
Painter suggested two possible remedies: the president could divest his and his family’s crypto holdings, or he could delegate all White House decision‑making on cryptocurrency matters to other officials.
White House response
The administration maintains that no conflict exists. A White House spokesperson said Trump’s investments are managed by independent third parties and that the president acts solely in the nation’s best interests. Trump has previously asserted that he does not involve himself in the day‑to‑day operations of his family’s businesses.
Legislative push for broader oversight
During the meeting, Trump urged Congress to pass the so‑called “Clarity Act,” which would establish a comprehensive regulatory framework for digital assets. He also highlighted the administration’s “Project Crypto” initiative, aimed at modernizing financial rules for blockchain technology.
Related investigation
Separately, the president’s longtime teleprompter operator, Gabriel Perez, is under investigation by the Commodity Futures Trading Commission for alleged insider trading on the prediction‑market platform Kalshi. Prosecutors are examining whether Perez used advance knowledge of Trump’s speeches to place trades. Perez has been placed on unpaid leave and is no longer employed by the federal government.
Earlier this year, the White House warned staff that using nonpublic government information to bet on prediction markets could constitute a criminal offense.
Questions remain
The White House declined to comment on whether Trump has recused himself from policy decisions affecting the cryptocurrency sector, leaving the issue of potential influence unresolved.
Original reporting: WLKY Louisville — read the source article.
