President Donald Trump pushed back Wednesday on criticisms of his massive gains from cryptocurrency last year, arguing that he doesn’t personally manage his finances.
Trump spoke to reporters at Joint Base Andrews before traveling to North Dakota for the opening of the Teddy Roosevelt Presidential Library, where he was asked about the $1.2 billion he earned from his family’s cryptocurrency business.
The president said that he doesn’t “get involved” with his money managers and advisers.
“We have funds that run my money,” he continued. “I’ve made a lot of money before I became president, and they invest my money, and I don’t talk to them. I never — I don’t even speak to them.”
“I’ve had a great career in business. I don’t know if I’ve had a better career in politics or business,” the president continued. “You saw the cash, and you report the different things. What we do — I think it’s called a blind account, but they, basically, they take it, and I purposely — I never speak to any of the people that run the money, but they’re at big institutions, and they invest in whatever they invest.”
Trump additionally brushed off a question about conflicts of interest, as his administration has focused on fostering cryptocurrencies, arguing that he’s “profiting because the stock market’s going up.”
‘HANDS ARE, EFFECTIVELY, TIED’: TRUMP TURNS TO CONGRESS FOR BIRTHRIGHT CITIZENSHIP LIFELINE
“Everybody’s profiting. If you ever — if you have a 401(k), how’s your 401(k) done? It’s up 85% Thank you, President Trump,” he stated. “So we’re all profiting. I’m profiting because I have a lot of money and a lot of cash, and we — I give it to institutions. I don’t know if they know what they’re doing or not, but they buy a vast array of things.”
The president’s sons, Eric and Donald Trump Jr., were traveling with the president on Wednesday and were standing behind him while he spoke to reporters on Wednesday. The three Trumps launched a cryptocurrency company, World Liberty Financial, in 2024, which was responsible for $500 million of the president’s reported cryptocurrency gains last year.