Trump Pushes Crypto Regulation Amid Family's Massive Profits
US President Donald Trump is involved in drafting cryptocurrency regulations while his family's financial disclosures show significant profits from the industry. The president made nearly $1.5 billion from cryptocurrency last year, including $635 million from Trump Meme Coin, which has dropped 80% in value over the year.
The connection between Trump's regulatory role and his family's investments has raised concerns about potential conflicts of interest. However, former White House ethics lawyer Richard Painter said the president's actions are not illegal.
'So technically the president of the United States can do this, hold a substantial investment in an industry while supervising the regulators of that industry, even though it’s a serious financial conflict of interest for the president to do so,' Painter said.