In an interview with CNBC, the president of the United States, Donald Trump, explained the rationale for obtaining multi-billion-dollar income from cryptocurrency projects, emphasizing that he sees no violations of the law or ethical standards in such activities.
According to the American leader, the cryptocurrency industry is a promising market where the United States should maintain its leading position so as not to cede dominance to China. Asked about the $1.4 billion received by Trump’s family from activities of the World Liberty Financial lending platform, as well as from the sale of WLFI tokens and the TRUMP memecoin, the president said that he sees nothing improper in this.
Trump noted that he began getting involved in the cryptocurrency business even before taking office, which, in his opinion, rules out questions about conflicts of interest. He also said that he does not directly participate in managing assets—specialized large companies handle investments on his behalf.
«I make a profit because the stock market is growing. Everyone makes a profit,» said Donald Trump.
Earlier, Massachusetts state senator Elizabeth Warren expressed concern that the president might place personal financial interests above those of the government. In her view, there is a risk that Trump’s crypto projects could receive protection from oversight by financial regulators, allowing profits to be extracted outside government control and without proper accountability.
The senator was also wary of the increased willingness of the U.S. Securities and Exchange Commission (SEC) to engage with the crypto industry, while previously the agency preferred to resolve controversial issues through legal proceedings. In February, Elizabeth Warren spoke out against granting a bank license to the World Liberty Financial platform, calling potential approval an act of corruption.
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