The White House has dismissed concerns regarding conflict-of-interest as Donald Trump reportedly generated approximately $1.2 billion from cryptocurrency ventures in 2025. The administration praised Trump for his role in establishing the United States as a leading player in the crypto industry.
In an extensive report released by the U.S. Office of Government Ethics, details emerged revealing that Trump earned nearly $550 million from his connection to World Liberty Financial, a startup co-founded in September 2024 by his sons and the son of his Middle East special envoy, Steve Witkoff.
Principal Deputy Press Secretary Anna Kelly defended the president’s financial activities, asserting that neither Trump nor his family has engaged in conflicts of interest. She emphasized that all actions taken by Trump and his administration serve the interests of the American public, while criticizing media narratives suggesting otherwise.
Additionally, Trump reported receiving $635 million in royalties tied to a licensing agreement for the $TRUMP cryptocurrency, which was launched following his inauguration in January 2025. His involvement in the digital currency sector significantly contributed to the nearly threefold increase in his personal wealth, which soared from $2.3 billion to $6.5 billion between 2024 and 2026, according to Forbes.
In other political developments, the U.S. Supreme Court upheld the constitutional guarantee of birthright citizenship, reinforcing that most individuals born on American soil are citizens. This decision counters a major aspect of Trump’s anti-immigration stance, with Chief Justice John Roberts clarifying that the order was in violation of the 14th Amendment.
The court also upheld legislation in two conservative states that excludes transgender girls and women from participating in female sports, a ruling that may lead to similar restrictions across the U.S., marking what some view as a significant victory for Trump in the ongoing cultural debate.
On the firearms front, the Supreme Court is set to review appeals concerning bans on AR-15 rifles and similar semiautomatic firearms, responding to challenges from Connecticut and the Chicago area. The announcement follows recent successes for advocates of Second Amendment rights.
Amid these developments, Trump has called for the first-ever national Republican convention ahead of the midterm elections. Scheduled for September 9 and 10 in Dallas, this event is aimed at mobilizing voters as the party seeks to maintain its slim congressional majorities.
In legislative news, House Speaker Mike Johnson encountered difficulties within his party, leading him to send House members home early for the Fourth of July recess. This decision comes after a faction of GOP lawmakers resisted moving forward on the Pentagon spending bill unless it incorporates Trump’s voter ID legislation. A procedural vote to merge the bills was unsuccessful, indicating ongoing tensions within the Republican ranks.
In a notable primary race, democratic socialist Melat Kiros achieved a significant victory by unseating 15-term incumbent Diana DeGette, further solidifying the left’s influence within the Democratic Party. Kiros, whose campaign garnered support from prominent progressive figures like Bernie Sanders, reflects a wave of change within Democratic politics, particularly in traditionally liberal districts.
