US President Donald Trump’s latest financial disclosures show that while his family promoted several cryptocurrency ventures that led to major losses for some retail investors, a significant portion of the proceeds from those projects was invested into more traditional assets such as stocks and bonds.
According to filings submitted to the US Office of Government Ethics, Trump earned more than $1.4 billion last year from his family’s crypto ventures, including World Liberty Financial and the Trump meme coin.
An analysis of his financial holdings over the past two years found that Trump’s investments in stocks and bonds increased at least fourfold as crypto-related income grew. His holdings in traditional financial instruments were valued between $703 million and $2.6 billion by the end of 2025, compared with between $225 million and $608 million at the end of 2024.
The disclosures provide value ranges rather than exact amounts, making it impossible to determine precisely how much of the cryptocurrency earnings were shifted into lower-risk investments.
Nine digital asset experts who reviewed the filings said the disclosures indicate that Trump’s personal wealth strategy does not rely heavily on cryptocurrencies, despite his public support for digital assets.
Trump has frequently described cryptocurrency as the future of finance and has pledged to make the United States the “crypto capital of the world.” However, experts said his financial filings suggest he has used crypto ventures as a source of revenue before placing profits into more established assets like stocks and bonds.
Timothy Massad, director of the Digital Assets Policy Project at Harvard University’s John F. Kennedy School of Government, said Trump’s approach appeared focused on earning from crypto projects such as the meme coin and World Liberty tokens before investing those gains into traditional markets.
Massad previously served as chairman of the Commodity Futures Trading Commission during the administration of former President Barack Obama.
A recent report found that retail investors in four major Trump-backed cryptocurrency projects had suffered losses of around $2.3 billion as of April.
Trump’s crypto holdings
The filings show that Trump continues to hold a significant amount of digital assets linked to World Liberty Financial, a crypto company co-founded by Trump and his sons, increasing his overall exposure to the sector.
By the end of 2025, Trump held 15.75 billion World Liberty governance tokens, valued at more than $50 million. The tokens were provided as compensation for his involvement in the company, with his personal holdings subject to a longer vesting period compared with public investors.
The companies managing Trump’s interests in World Liberty Financial and the Trump meme coin project held at least $160 million worth of bitcoin and ether — the two largest cryptocurrencies by market value — along with up to $6 million in other digital tokens at the end of 2025, according to the disclosure documents.
