President Donald Trump on July 2 defended the crypto fortune disclosed in his latest federal financial filing, telling reporters there was “nothing illegal, there’s nothing wrong with it.” The remarks followed a disclosure showing his family collected at least $1.4 billion from digital-asset ventures during his first year back in office.

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“I was there [in crypto] before I was in office,” Trump said, noting that his involvement in the space predated his second term. He further added that he is “profiting because the stock market is going up,” and that “everybody is profiting.”

Pressed on whether he knew how much he had made, Trump said he takes no personal role in the investments, claiming large institutions manage his money on his behalf. The comments echoed a separate exchange in which he said he “didn’t” know he had earned the sum from crypto, while maintaining he “could know” if he wanted to. Ethics lawyers have argued that arms-length management does little to resolve the underlying conflict when the president also sets policy for the industry enriching him.

The figure comes from Trump’s annual financial disclosure, which Bitcoin.com News detailed earlier this week. The filing lists roughly $635 million in royalties from the official Trump memecoin, about $515 million from sales of the World Liberty Financial governance token, WLFI, and a further $65 million from the sale of equity in the venture’s holding company. More than $290 million in additional income was routed through crypto wallets tied to the family’s decentralized finance ( DeFi) projects.

The haul makes Trump the single largest crypto moneymaker among U.S. public figures, with the digital-asset earnings dwarfing income from his golf courses and real estate. World Liberty Financial, the DeFi platform co-founded by Trump and his sons, sits at the center of the windfall, with the venture close to securing a national trust bank charter from the Office of the Comptroller of the Currency (OCC).

That said, the WLFI token is currently trading near 5.7 cents, down roughly 72% from its peak, and the company recently sold an additional 5.9 billion tokens to undisclosed private buyers without informing existing backers (a move that pushed the token to a record low). The gap between the family’s take and retail losses has become a rallying point for critics who say the projects transfer wealth from small buyers to insiders.

The disclosure has sharpened accusations of an unprecedented conflict of interest, given that the president simultaneously shapes federal crypto rules through agencies like the Securities and Exchange Commission (SEC) and the OCC. The family’s expanding crypto empire now spans a memecoin, a stablecoin, a DeFi platform and a pending bank charter, leaving little visible separation between policy and profit.

A White House spokesperson defended the administration, saying its actions are taken “in the best interest of the American people.” Trump, for his part, cast the earnings as a byproduct of a rising market rather than his office. “There’s nothing wrong with it,” he repeated.

Congressional Democrats have pressed for probes into the ventures, while the OCC’s looming decision on World Liberty’s bank charter could hand the family a federally regulated foothold in traditional finance.

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