Trump invested crypto gains in stocks and bonds, filings show

By Tom Bergin

July 13 (Reuters) - President Donald Trump's financial disclosures show that even as he and his two eldest sons were encouraging investors to plow their money into crypto projects — which resulted in steep losses for retail buyers — his money managers were investing a significant portion of the proceeds into safer harbors.

Trump received more than $1.4 billion last year ‌from his family's crypto projects, including World Liberty Financial and the Trump meme coin, his latest financial disclosures filed with the U.S. Office of Government Ethics show.

A Reuters ‌analysis of his holdings over the past two years shows that his portfolios of stocks and bonds increased at least fourfold as the crypto money flooded in. The president held between $703 million and $2.6 billion in such traditional financial instruments at the ​end of 2025, compared with between $225 million and $608 million at the end of 2024.

The filings report holdings with ranges instead of exact figures. Reuters was unable to determine exactly how the money he reported earning from crypto was allocated to less risky assets.

While Trump has held on to some of his crypto proceeds, nine digital asset experts who reviewed the Reuters analysis said the Republican president's filings show the personal economic activity of a man who does not trust crypto as a primary store of his personal wealth. In addition to the meme coin and World Liberty, Trump did not report having bought shares in two ‌publicly listed crypto firms that are backed by his sons Eric ⁠Trump and Donald Trump Jr.

"Although the President talks about digital assets as the frontier of finance and making the United States the crypto capital of the world, the disclosure form suggests his personal strategy is to make a quick buck from crypto — through the sale of his meme coin and World Liberty ⁠tokens — but then invest his profits in traditional assets like stocks and bonds," said Timothy Massad, director of the Digital Assets Policy Project at the John F. Kennedy School of Government at Harvard University. Massad previously served as chairman of the Commodity Futures Trading Commission, which has regulatory jurisdiction over some crypto assets, under the administration of President Barack Obama, a Democrat.

A Reuters report last month found that retail investors in the ​four ​main Trump-backed crypto projects had lost $2.3 billion as of April.

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Trump's filing shows he ​still has large numbers of digital tokens issued by World Liberty Financial, which the ‌president and his sons co-founded, and has increased his overall exposure to digital currencies.