Trump's Family Cryptocurrency Profits Spark Conflict of Interest Concerns
President Donald Trump's family has profited significantly from cryptocurrency last year, according to financial disclosures. The president made nearly $1.5 billion from cryptocurrency, including $635 million from his Trump Meme Coin. This coin has dropped 80% in value over the past year.
The White House is currently helping draft cryptocurrency regulations while the president's family continues to profit from the industry. Former White House ethics lawyer Richard Painter said that technically, the president can hold a substantial investment in an industry while supervising its regulators, but it raises serious concerns about potential conflicts of interest.
A Reuters/Ipsos poll found that nearly two-thirds of Americans believe it is inappropriate for the president and his family to profit from cryptocurrency while he is in office. This includes three out of every ten Republicans who expressed this sentiment.