Key conclusions

• Reuters estimates that Trump-linked ventures made $802 million from cryptocurrencies in early 2025.

• The income came from WLFI tokens, the TRUMP coin and the USD1 stablecoin yield.

• The Alt5 transaction Sigma and foreign buyers helped convert the token’s value into cash.

• As crypto enforcement has eased in the U.S., experts have noted possible conflict concerns.

In the first half of 2025, Trump-linked ventures booked approximately $802 million in cryptocurrency revenue, primarily from sales of World Liberty Financial (WLFI) tokens and Trump’s official memecoin (TRUMP), which eclipsed golf, licensing and real estate revenues.

Reuters investigative and methodology documents detail where the money came from and how it was accrued. This guide explains the mechanics, buyers, and political context without too much hype.

What is World Liberty Financial?

WLFI launched in behind schedule 2024 as a token-focused project with ties to the Trump family. Its governance token, WLFI, offers restricted holder rights compared to classic decentralized finance (DeFi) governance models. The company’s lawyer argues that the token has “real utility.”

The basic monetization model is straightforward. According to the WLFI “Golden Book”, an affiliate of the Trump Organization is entitled to 75% of the proceeds from the token sale after expenses are covered. Reuters used this document as the basis for its revenue model.

Reuters estimates that in the first half of 2025, WLFI token sales were the largest single source of cash. They made up the bulk of the family’s crypto windfall.

Alt5 Sigma offer

In August 2025, WLFI entered into a Nasdaq transaction in which Alt5 Sigma raised hundreds of millions of dollars to purchase WLFI tokens. The move provided a major demand catalyst and converted some paper value into realized cash for Trump-controlled entities.

A separate report in August outlined a broader plan for WLFI’s $1.5 billion Alt5-linked “treasury” strategy. The plan was intended to maintain a significant portion of the token supply, which helps explain the scale of flows into WLFI.

How memecoin TRUMP generated cash

The TRUMP coin was launched on January 17, 2025, and its creators received a portion of the transaction fees from Meteora, the exchange where the transaction was first made. Within two weeks, onchain forensics firms cited by Reuters estimated fees of $86 million to $100 million, mostly for Meteors.

In its analysis of the first half of 2025, the outlet modeled coin sales of approximately $672 million and, using a conservative assumption of 50% participation, attributed approximately $336 million to Trump-linked interests. The methodology takes into account uncertainty because the distribution of ownership and fees is not fully disclosed.

Who bought the tokens?

Most WLFI buyers exploit pseudonymous wallet addresses, but the investigation identified several known participants and concentrated overseas demand. The investigation highlights the Aqua1 Foundation’s $100 million purchase of WLFI and reports that Eric Trump and Donald Trump Jr. participated in a global roadshow for investors promoting the token.

The review also noted that foreign investors were among the main identifiable buyers. While attribution remains probabilistic, foreign participation among immense WLFI holders appears significant.

USD1 stablecoin (and its interest stream)

WLFI also promotes USD1, a dollar-pegged stablecoin backed by reserves of cash and US treasury bonds, whose depository is operated by BitGo.

Reuters reports that $1 margin reserves generate an estimated annual interest rate of $80 million at the prevailing rate of return, and notes that a portion of that interest accrues to the company, which is 38% owned by the Trump Organization, although the actual amount realized in 2025 remains undetermined.

In May 2025, Abu Dhabi-backed MGX announced a $2 billion investment in Binance that, according to WLFI reports and public statements, was to be settled in $1. The transaction is a perfect example of how the WLFI stablecoin is being positioned to facilitate very immense transactions.

How Reuters reached “$802 million”

Because much of Trump’s business empire is private, Reuters combined the president’s disclosures, asset records, court-released financial records and online trading data. It then used explicit assumptions, such as a 75% share of WLFI in the revenue from the sale of WLFI tokens and a 50% share in TRUMP, which were verified by scientists and certified accountants.

The outlet concluded that nearly $802 million of the Trump family’s income in the first half of 2025 came from crypto ventures, compared to just $62 million from their classic businesses.

Did you know? WLFI disputes parts of Reuters’ analysis, arguing that its revenue model was oversimplified, misinterpreted portfolio data and overlooked the real utility of the project.

Political background (and the issue of conflict)

As of January 2025, the approach to law enforcement in the US towards cryptocurrencies has changed. The Department of Justice has disbanded its National Cryptocurrency Enforcement Task Force and narrowed its priorities, while the U.S. Securities and Exchange Commission has dropped or stayed several high-profile cases, including a motion to dismiss Coinbase and ending actions against other immense companies.

Ethics experts he said Reuters that a sitting president overseeing cryptocurrency policy while his family earns significant income from cryptocurrencies constitutes a modern conflict of interest, even if it is not illegal.

The White House and company officials have denied any wrongdoing.

Results and broader context

In compact, what appears to be an $800 million “gold rush” is beneath the surface a combination of brand-driven token sales, high-fee memecoin mechanics, high-speed treasury trading, and a yielding stablecoin.

Totals are calculated based on documented splits and modeled flows. But the controversy centers on who the buyers were, how limpid the ventures remain and how U.S. policy has changed as the money flowed in. For anyone following crypto policy, this story now serves as a live case study in incentives, disclosure, and governance risks.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.