WASHINGTON, July 3, 2026, 12:01 EDT
- Trump said he took in over $1.4 billion from crypto in 2025. 1.4 million Trump Accounts qualify for $1,000 in federal deposits, roughly matching that total.
- Treasury plans to default launch funds into the State Street SPDR Portfolio S&P 500 ETF (NYSEARCA:SPYM). It’ll also take public-company stock as donations.
- Bessent denied any conflict. Market analysts said the disclosure could damage crypto’s push for legitimacy.
- U.S. stock markets were closed Friday for the Independence Day holiday. Both Nasdaq and NYSE had July 3 on their list of shut dates.
President Donald Trump’s reported crypto income now ties in with a new taxpayer-backed equity plan. His crypto total for 2025, more than $1.4 billion, about matches the government’s starter fund for 1.4 million eligible Trump Accounts. The Office of Government Ethics posted Trump’s certified annual disclosure June 30. Reuters reported the filing lists over $1.4 billion from crypto, with nearly $800 million from World Liberty Financial and $635 million from Trump meme coin sales.
The comparison is notable because the same week saw two Trump-branded flows. One is private crypto income linked to an industry his administration has supported. The other is a government account program backed by Treasury, set for launch Saturday, with default exposure to stocks and an option for giving public shares. Treasury said over 6 million families enrolled ahead of the rollout, but Reuters reported only 1.4 million are eligible for the $1,000 federal deposit.
| Measure | Latest figure | Investor read-through |
|---|---|---|
| Trump 2025 crypto income | More than $1.4 bln | This is close to what the federal government is putting behind eligible Trump Accounts. |
| World Liberty Financial income | Almost $800 mln | This is the single largest disclosed crypto revenue line. |
| Trump meme coin sales | $635 mln | This is where most retail crypto exposure shows up. |
| Eligible Trump Account seed pool | 1.4 mln × $1,000 = about $1.4 bln | Once seeded, these accounts could add direct demand for ETFs. |
| Families signed up | More than 6 mln | Roughly 23% will see federal seed money; the rest will need to rely on private or family deposits. |
Treasury will put all Trump Account contributions into State Street SPDR Portfolio S&P 500 ETF (NYSEARCA:SPYM) at first. Later, it says accounts can move into any of four: iShares Core S&P 500 ETF (NYSEARCA:IVV), Vanguard Total Stock Market ETF (NYSEARCA:VTI), State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (NYSEARCA:SPTM), or iShares Core S&P Total U.S. Stock Market ETF (NYSEARCA:ITOT).
| Market channel | Confirmed detail | Why it matters |
|---|---|---|
| Default ETF | SPYM will be the initial offering | Initial account inflows get put into an S&P 500 fund. |
| Later ETF menu | IVV, VTI, SPTM, ITOT | Assets can later move into bigger U.S. index ETFs. |
| Public-stock donations | Treasury will take liquid stocks from public companies | People will be able to fund via donated shares, all in a government program for child accounts. |
| Private boosts | Michael and Susan Dell gave $6.25 bln, Micron Technology Inc NASDAQ:MU put in $250 mln | Big philanthropy and corporate gifts might push up balances on top of federal money. |
| Company benefit plans | Uber Technologies Inc NYSE:UBER, Intel Corp NASDAQ:INTC, International Business Machines Corp NYSE:IBM and Nvidia Corp NASDAQ:NVDA said they will contribute | Firms are adding this to employee benefits and policy. |
Treasury Secretary Scott Bessent said in a CBS interview that Trump’s crypto earnings aren’t an issue. “I don’t think there’s an appearance problem,” he said. Bessent described the administration as “an innovation presidency.” White House spokesperson Anna Kelly told CBS there are “no conflicts of interest.” CBS News
Some in the market were skeptical. Dan Weiskopf, portfolio manager at Tidal Financial Group, told Business Insider the news gave “fuel for the skeptics.” Daniel Newman, CEO of The Futurum Group, said the gains came from issuing tokens, not actual price moves. Gordon Johnson, CEO of GLJ Research, said an auditor “wouldn’t sign the 10-K” if a public-company CEO booked that sort of money from a hard-to-track counterparty. Ross Gerber at Gerber Kawasaki called the meme coin activity “a straight up grift.” Business Insider
The retail trade isn’t looking good. World Liberty tokens are down over 80% to below six cents, The New Yorker said. The $TRUMP memecoin has also tanked, going from almost $75 before Trump’s inauguration to roughly $1.70.
That’s the risk for investors. Trump gets paid from issuance, licensing, and business interests, but buyers take the hit if prices fall. The White House can pitch the policy as pro-innovation. Still, if ethics become an issue around market-structure or stablecoin proposals, it could stall crypto regulation.
Trump’s political support has not taken much of a hit so far. The Boston Globe, summarizing a New York Times piece, said that most outspoken Trump supporters on the far right have not criticized the amount raised or his dual role as a crypto operator and policymaker.
The foreign policy story is getting more complicated. On Friday, Al Jazeera said Pakistan signed a memorandum in January with a World Liberty Financial affiliate to look at the USD1 stablecoin. But almost six months later, officials told Al Jazeera there’s still no pilot, no licences, no record of any use. Economist Khurram Husain called it an “instrument of access.” Al Jazeera
For investors, the main question is not if Trump Accounts make for good savings policy but where political risk ends up. The equity-account program might drive stable, indexed demand and more giving from public companies. On crypto, the disclosure may bog down Washington’s efforts to set digital-asset rules if lawmakers or compliance teams think the president’s personal gains complicate the sector’s pitch.
