White House discloses revenue: Trump earns nearly $60 million with cryptocurrency platform

The US President's sources of money are flowing: He rakes in millions from a cryptocurrency trading platform alone. But he generates even higher revenues through another business area.

US President Donald Trump has earned more than $57 million through his involvement with a cryptocurrency platform, according to a financial report released by the White House. He earned $57.4 million in revenue from the sale of crypto tokens on the World Liberty Financial platform founded by Trump and his sons.

A few days before taking office on January 20, Trump launched a so-called memecoin. Critics consider the Trumpcoin morally questionable and accuse the right-wing populist of enriching himself while in office.

Trump had previously described the high-risk cryptocurrencies as a "disaster waiting to happen." During his presidential campaign, however, he promised to make the US the "crypto center of the world." In March, he invited industry representatives to the White House and also ordered the creation of a government reserve of cryptocurrencies.

The financial report released by the White House also provides an overview of Trump's income from the sale of branded products and licensing agreements. He earned approximately $2.8 million from watches and $2.5 million from perfumes and sneakers. The Republican also generated another $1.16 million from NFTs.

The 230-page report lists revenues of more than $50 million for Trump's Mar-a-Lago club in Florida. Trump's golf courses in West Palm Beach and Miami earned him a total of around $140 million. His gold courses in Ireland and Scotland alone brought in another $38.9 million.