$107M Crypto Income Raises Questions Ahead of Crucial CLARITY Act Vote
US special envoy Steve Witkoff reported nearly $107 million in income from World Liberty Holding, tied to World Liberty Financial, just days before a crucial Senate vote on the CLARITY Act. The filing with the Office of Government Ethics shows that Witkoff's income from the holding company more than tripled last year compared to 2024.
The disclosure lists the $107 million as one line item and does not separate the crypto revenue from other businesses within the corporate structure, such as real estate ventures. Additionally, Witkoff reported earning $120 million from selling a stake in his real estate firm, which he described as part of divestiture planning.
Seven Senate Democrats have expressed concerns that the bill's ethics language does not go far enough and has threatened to vote against it. The CLARITY Act aims to regulate market structures but faces an uphill battle with only 16% odds of passage according to prediction markets, down from 82% in February.
A White House spokesperson stated that Witkoff has 'fully divested' from World Liberty Financial and that his earlier dealings have no connection to the peace talks he handles for President Donald Trump in the Middle East.