White House rejects conflict-of-interest claims as Trump's crypto earnings hit $1.2bn

The White House has rejected any conflict-of-interest concerns regarding President Donald Trump's cryptocurrency income. Principal Deputy Press Secretary Anna Kelly stated that Trump has “proudly made the United States the crypto capital of the world.”

According to a 927-page document released Tuesday by the US Office of Government Ethics, Trump received nearly $550 million in 2025 from his ties to the startup World Liberty Financial (WLF). WLF was co-founded in September 2024 by Trump's sons and the son of Steve Witkoff, Trump's Middle East special envoy.

The filings also mention $635 million in royalties received under a licensing agreement related to the $TRUMP cryptocurrency, launched just hours before the president's inauguration in January 2025. Forbes reports that Trump's personal fortune nearly tripled from $2.3 billion to $6.5 billion between 2024 and 2026, primarily due to his crypto activities.

Other developments

The US Supreme Court upheld the constitutional guarantee of birthright citizenship, rejecting a key part of Trump's anti-immigrant agenda. Chief Justice John Roberts wrote that the order violated the 14th Amendment.

Separately, the court upheld laws in two conservative states that exclude transgender girls and women from female sports, potentially paving the way for similar bans nationwide.

The Supreme Court will also consider whether bans on AR-15 rifles and similar semiautomatic firearms are constitutional, agreeing to hear appeals from Connecticut and the Chicago area.

Trump announced that Republicans will hold their first-ever national convention ahead of the midterm elections, scheduled for September 9–10 in Dallas, aiming to energize voters as the party fights to maintain its narrow congressional majorities.