Key takeaways
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Reuters estimates that Trump-linked companies made $802 million in crypto by early 2025.
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Revenue came from WLFI tokens, TRUMP coin, and $1 stablecoin yields.
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Alt5 Sigma’s deal and foreign buyers helped turn token value into cash.
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As crypto enforcement in the United States has relaxed, experts have noted possible conflict issues.
In the first half of 2025, Trump-linked companies recorded approximately $802 million in crypto revenue, primarily from sales of World Liberty Financial (WLFI) tokens and the official Trump memecoin (TRUMP), eclipsing revenue from golf, licensing and real estate.
Reuters investigation and methodology documents detail where the money came from and how it was accounted for. This guide explains the mechanisms, buyers and political context without hype.
What is World Liberty Financial?
WLFI launched in late 2024 as a token-centric project linked to the Trump family. Its governance token, WLFI, offers limited holder rights compared to traditional decentralized finance (DeFi) governance models. The company’s lawyer says the token has “real utility.”
The basic monetization model is simple. According to WLFI’s Gold Paper, a Trump Organization affiliate is entitled to 75% of token sale revenue after expenses. Reuters used this document as the basis for its revenue model.
In the first half of 2025, Reuters estimates that WLFI token sales were the main source of liquidity. They represented the bulk of the family’s crypto windfall.
The Alt5 Sigma deal
In August 2025, WLFI entered into a deal with Nasdaq in which Alt5 Sigma raised hundreds of millions of dollars to purchase WLFI tokens. The move was a major catalyst for demand and converted some of the theoretical value into realized cash for Trump-controlled entities.
Separate reports released in August laid out a broader plan for a $1.5 billion WLFI “treasury” strategy linked to Alt5. The plan aimed to hold a significant portion of the token supply, details that help explain the scale of flows into WLFI.
How the TRUMP memecoin made money
The TRUMP coin was launched on January 17, 2025, and its creators earned a share of the trading fees from Meteora, the exchange where it was first traded. In two weeks, onchain investigation companies cited by Reuters estimated between $86 million and $100 million in fees, mainly on Meteora.
In its analysis for the first half of 2025, the outlet modeled about $672 million in coin sales and, using a conservative 50% share assumption, attributed about $336 million to Trump-related interests. The methodology recognizes uncertainty because ownership and cost sharing are not fully disclosed.
Who bought the tokens?
Most WLFI buyers are pseudonymous wallet addresses, but the investigation identified several high-profile participants and concentrated foreign demand. The investigation highlights the Aqua1 Foundation’s purchase of WLFI for $100 million and reports that Eric Trump and Donald Trump Jr. participated in a global investor tour promoting the token.
The study also notes that the main identifiable buyers include foreign investors. Even if the attribution remains probabilistic, foreign participation among large WLFI holders appears significant.
The USD1 stablecoin (and its interest flow)
WLFI also promotes USD1, a dollar-pegged stablecoin backed by reserves of cash and US Treasuries, custodial by BitGo.
Reuters reports that the reserves backing USD1 generate an estimated annual interest rate of $80 million at prevailing yields and notes that a portion of that interest accrues to a company 38% owned by the Trump Organization, although the actual amount realized for 2025 remains undetermined.
In May 2025, Abu Dhabi-backed MGX announced a $2 billion investment in Binance, which WLFI reports and public statements said was to be settled with $1. The deal serves as a striking example of how WLFI’s stablecoin is positioned to facilitate ultra-large transactions.
How Reuters arrived at “$802 million”
Since much of Trump’s business empire is private, Reuters combined presidential disclosures, property records, court-released financial data and on-chain business data. It then applied explicit assumptions, such as WLFI’s 75% revenue share for WLFI token sales and TRUMP’s 50% share, which were reviewed by academics and certified public accountants.
The outlet’s conclusion was that nearly $802 million of the Trump family’s income in the first half of 2025 came from crypto businesses, compared to just $62 million from their traditional businesses.
Did you know? WLFI disputes parts of Reuters’ analysis, arguing that its revenue model was oversimplified, portfolio data misinterpreted and the project’s real utility overlooked.
The political context (and the question of conflict)
Since January 2025, the United States’ position on the enforcement of cryptocurrencies has changed. The Justice Department disbanded its national cryptocurrency enforcement team and scaled back its priorities, while the U.S. Securities and Exchange Commission dropped or suspended several high-profile cases, including its request to dismiss Coinbase and end actions against other major companies.
Ethics experts told Reuters that a sitting president overseeing crypto policy while his family earns substantial crypto income presents a new conflict of interest, even if it is not illegal.
The White House and company officials have denied any wrongdoing.
Results and wider context
In short, what appears to be an $800 million “gold rush” is, beneath the surface, a mix of brand-focused token sales, fee-rich memecoin mechanics, a high-speed treasury deal, and a yield-bearing stablecoin.
Totals are taken from documented distributions and modeled flows. The controversy, however, centers on the identity of the buyers, the transparency of the companies and how U.S. policy changed as the money flowed in. For anyone following crypto politics, 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 before making a decision.
