Trump's Crypto Conflict: $1.4B Profit Sparks Ethics Fears Over CLARITY Act

US President Donald Trump is facing a conflict of interest as he pushes Congress to pass the CLARITY Act, which would set rules for the crypto industry. The bill's passage is urgent, with a deadline of September 15, but Democrats are holding out for ethics reforms that address Trump's own crypto holdings.

The problem lies in the President's $1.4 billion profit from crypto last year, more than his entire real estate empire. Steve Witkoff, Trump's special envoy for the Middle East and Ukraine, has disclosed nearly $107 million in income tied to World Liberty Financial (WLFI), a company co-founded by Witkoff's son and Trump's three sons.

The disclosure reveals that Witkoff received over $69 million in cash and $38 million in crypto from WLFI last year. His total assets now exceed $400 million, including a separate $120 million from selling his stake in a real estate firm. The White House claims Witkoff has 'fully divested' from these interests but the arrangement appears problematic to observers.