On Thursday, Treasury Secretary Scott Bessent dismissed concerns over President Donald Trump's billion-dollar cryptocurrency earnings, saying the administration's focus on innovation makes the whole thing a non-issue.
Bessent brushed aside criticism during an interview with CBS News, telling anchor Kelly O'Grady that he doesn't believe the president's financial gains create an ethical or appearance problem.
"I don't think there's an appearance problem," Bessent said when asked about the optics of Trump's crypto profits.
Bessent argued that the administration's policies are aimed at strengthening innovation across emerging technologies.
"This is an innovation presidency, so whether it's digital assets, whether it's AI, whether it's everything that is going on in the tech ecosystem … all Americans are benefiting from that," he said.
Financial Disclosure Reveals More Than $1 Billion In Crypto-Related Income
The comments came after personal financial disclosures released Tuesday showed Trump earned more than $526.8 million from World Liberty Financial, the cryptocurrency venture he launched with his sons, Donald Trump Jr. and Eric Trump, in late 2024.
The filing also disclosed more than $635 million in royalties stemming from a licensing agreement between CIC Digital LLC, an affiliate of the Trump Organization, and "celebration coins."
Combined, the two revenue streams exceeded $1 billion, adding fresh scrutiny to Trump's financial interests while serving in the White House.
Trump Says Crypto Profits Are Not Illegal
Critics have questioned whether Trump's continued business interests could create conflicts of interest, particularly as his administration shapes policies affecting the cryptocurrency industry.
The White House has rejected those concerns.
Speaking to CNBC on Thursday, Trump said he was unaware of the large cryptocurrency investments but insisted they would not present a legal issue even if he had known.
"By the way, I could know about it. I didn't. I mean, there's nothing illegal, there's nothing wrong with it. I could know," Trump said.
The 927-page financial disclosure filed with the U.S. Office of Government Ethics also reported that Trump earned more than $2 billion last year and detailed roughly $220 million in financial transactions involving holdings in dozens of major U.S. companies.
Image via Shutterstock
