Trump’s $2.2B portfolio is powered by cryptocurrencies: Taxes on $1.4B income could hit hundreds of millions, experts say
A new financial disclosure shows Donald Trump and his family earned at least $2.2 billion in 2025, according to Office of Government Ethics documents, making it one of the largest earnings disclosures of his career. The document covers Trump’s business, investassets, liabilities and sources of income.
Trump’s reported income was more than three times the low of $622 million disclosed in the previous year’s filings. The biggest change is that cryptocurrency, not real estate, will become Trump’s largest source of income in 2025.
Cryptocurrency becomes Trump’s biggest moneymaker
According to the Financial Express, Trump reported revenue from crypto-related businesses of at least $1.4 billion in 2025. Cryptocurrencies alone generate more than half of Trump’s total reported income, demonstrating the importance of digital assets to his business empire.
One of the largest revenues comes from CIC Digital LLC, a company associated with Trump’s NFT and memecoin projects. CIC Digital reported more than $635 million in royalty revenue, primarily through a licensing agreement with Celebration Coins.
Another huge contributor is World Freedom Financial Corporation, a cryptocurrency company backed by Trump, his son, and Steve Witkoff. Trump’s companies own 38.25% of World Liberty Financial Corporation. The company generated more than $594 million in revenue for Trump through token sales, equity sales and other crypto-related transactions.
Token sales alone brought Trump more than $236 million in revenue. Equity sales added more than $65 million. Other token distribution payments contributed more than $150 million. According to the Financial Express, Trump separately reported nearly $197 million in equity sales involving stablecoin holding companies.
Trump’s crypto tax bill could be huge
Trump’s $1.4 billion in cryptocurrency income appears to be subject to tax, according to tax experts. A cryptocurrency tax accountant told CBS News that Trump may need to pay at least $250 million in taxes on his cryptocurrency income. If the entire $1.4 billion were taxed as personal income at the top federal rate of 37%, Trump’s tax bill would likely be about $518 million before deductions. However, experts say the actual amount is likely to be much lower due to business structure, deductions and possible losses.
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Experts also say it’s unclear whether the income should be considered capital gains or ordinary income because disclosure details are limited. According to CBS News, according to the IRS, digital assets are generally taxed similarly to traditional investments, but the specific taxes depend on how the income is earned. If the income belongs to Trump’s businesses rather than him personally, it could be taxed at a lower corporate rate.
Experts say Trump could also legally reduce his tax bill by using business losses to offset gains. The White House did not respond to CBS News’ questions about how Trump pays taxes on cryptocurrency income or whether he uses deductions. Unlike recent U.S. presidents, Trump does not publicly release his tax returns, making it difficult to verify his tax payments.
Tax transparency issues remain
The lack of public tax returns means it’s impossible to know exactly how much Trump owes or has paid, CBS News reported. The settlement signed by the Justice Department in May also limits the IRS and Treasury Department from pursuing certain claims related to Trump’s previous tax returns.
The settlement comes after Trump filed a lawsuit over the 2020 leak of his tax records to media organizations. The agreement also included a proposed $1.7 billion “anti-weaponization” fund, but a federal judge put the fund on hold and acting Attorney General Todd Branch later said the department would not move forward with the fund.
Trump’s investment portfolio expands significantly
Trump reported that he maintains eight brokerage accounts invested in U.S. stocks. The document includes more than 680 pages of stock buying and selling activity. Frequently traded companies include Amazon, Microsoft, Nvidia, Apple, Netflix and Exxon Mobil, according to the Financial Express.
Some investments in Microsoft and NVIDIA apple Value ranges from $1 million to $5 million. According to the New York Times, Trump’s investment assets have increased to at least $857 million from at least $236 million a year ago. The portfolio also includes corporate bonds and exchange-traded funds (ETFs), making it similar to a diversified portfolio.
Trump’s latest news financial disclosure indicating that his business empire is now primarily driven by cryptocurrencies. Experts also say the exact amount of taxes Trump owes on his $1.4 billion in cryptocurrency income remains unknown because the ownership, deductions and tax treatment of the companies are not publicly disclosed.
