Just now! Trump made $1.2 billion off $TRUMP, while your fans lost 66% of their money—was this scythe designed specifically to harvest you?

On Wednesday, at the ramp of Joint Base Andrews, Trump was cornered by reporters asking about financial disclosures. He waved his hand, his tone as casual as discussing the weather: “I don’t manage my personal affairs—there are funds handling my money.”

This was said in reference to a 927-page disclosure document. The document shows that his reported income for 2025 is at least $2.24 billion—compared to just $622 million last year. That’s a 3.6-fold increase.

Where did the money come from? Cryptocurrency. The document clearly shows: approximately $1.2 billion in cryptocurrency-related income. Among it, World Liberty Financial contributed $580 million—a company co-founded by Trump family members that issued the $WLFI governance token and the $USD1 stablecoin, launched this March. Another $635 million came from his personal meme coin business—CIC Digital LLC, which is the “Celebration Coin” project.

When reporters pressed for the reason behind the profits, Trump’s answer was very Trump: “Well, you know why? Because the stock market is going up, and everyone is making money.” He then emphasized that the money is entrusted to institutions, and he neither participates in investments nor talks to those fund managers: “I don’t talk to them. I never—I don’t even speak with them.” He compared it to a closed account: “You put the money in, and that’s it.”

Data doesn’t lie. According to SEC statistics, 54.4% of Americans invest in the stock market. Trump’s logic is: the rich have more money to entrust to institutions, which then buy stocks, so when the market rises, the rich make even more. He said: “The reason I can make money is because I have a lot of money, and I entrust it to various institutions.” He didn’t forget to add: “I don’t know if they know what they’re doing, but they buy a wide variety of things.”

But the disclosure document also shows another side. Over the past year, Trump has conducted hundreds of stock trades, with individual trades ranging from $5 million to $25 million in size. One trade stands out: on September 23, he bought between $500k and $1 million worth of Amazon stock, on the same day a federal court was hearing a case accusing Amazon of misleading consumers. The timing is as precise as if it were calculated.

Questions about conflicts of interest have never ceased. White House spokesperson Anna Kelly sent an email to CNBC on Wednesday with a strong tone: “The President and his family have never had—and never will have—a conflict of interest.” She then delivered another blow, emphasizing Trump’s push to make the United States the “world capital of cryptocurrency,” including supporting the GENIUS Act. Finally, she said these questions are “rehashing the same old, false narratives that Democrats and the legacy media have been pushing for a decade.”

Earlier that day, Trump did not respond to questions about conflicts of interest.

What really stings is the observation from The Wall Street Journal: Trump made over a billion dollars from cryptocurrency trading, while his fans are losing money. According to data from crypto data provider Nansen, about two-thirds of $TRUMP investors are currently in the red.

In other words, he sold the narrative of “join me and you’ll win,” but the coin price has dropped by two-thirds from its peak, taking advantage of those who trusted him the most. The President’s logic is always self-consistent: the market rises, so I make money; you lose because of your own trading? He even said things like “I don’t know what the managers are buying.”

But the disclosure document doesn’t lie. The timing, size, and type of those trades are all in black and white. A person who claims to “not manage investments” made a precise buy on the day a subsidiary faced a lawsuit. A person who declares “the market is up and everyone profits” has a token that leaves 66% of fans holding the bag.

Retail investors can do the math themselves.

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