Trump reports record income driven by crypto ventures in 2nd term

US President Donald Trump reported more than $2.2 billion in income last year, driven largely by cryptocurrency holdings and related business ventures, marking an unprecedented increase in wealth for a sitting US president, according to a financial disclosure reviewed by The Washington Post on Wednesday.

The disclosure showed Trump's reported income rose by more than $1.6 billion over the past year, with cryptocurrency ventures accounting for the bulk of the increase as his administration moved to ease regulation of the digital asset industry, The Washington Post reported.

According to the report, royalties and other proceeds from Trump-linked cryptocurrency ventures, including the $TRUMP meme coin, were among the president's largest sources of income.

Trump also reported significant earnings from his real estate portfolio, including his Trump National Doral golf resort and Mar-a-Lago property, although those businesses now account for a smaller share of his overall income.

Speaking to reporters on Wednesday before boarding Air Force One, Trump attributed his increased wealth to rising financial markets, saying, "You know why I'm profiting, because the stock market's going up."

The White House rejected criticism that Trump's financial interests present conflicts of interest.

"Neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest," White House spokeswoman Anna Kelly said in a statement.

The report said that ethics experts and Democratic lawmakers argued Trump's cryptocurrency businesses create potential conflicts because his administration is shaping federal policy governing the industry.

Critics also pointed to executive actions aimed at easing cryptocurrency regulation during his second term.

The disclosure also listed income from other Trump-branded products, including Bibles, watches and books, according to The Washington Post.