WASHINGTON - President Donald Trump faced scrutiny over his personal profits from a new Trump "meme coin" that gained significant value in just 100 days in office.
When questioned about the success of the coin, Trump acknowledged launching it but downplayed the financial gains, stating it was insignificant compared to tech billionaires' wealth.
Despite questions about personal profit from the presidency, Trump entities have reportedly made millions in trading fees and investments in cryptocurrency.
Recent deals involving Trump-affiliated crypto ventures have raised concerns about conflicts of interest and potential ethical violations, prompting investigations by Democratic lawmakers.
Additionally, Trump's administration's actions to deregulate the cryptocurrency industry have fueled further controversy.
Aside from crypto investments, Trump's profits also stem from real estate, his Truth Social platform, and various branded merchandise.
The lack of transparency surrounding Trump's financial gains as president has raised alarms among accountability groups and lawmakers, leading to calls for investigations into his business dealings.
Sen. Richard Blumenthal has expressed concerns about the opacity of Trump's crypto transactions and the potential national security risks associated with undisclosed profits.
Despite denials of conflict of interest, Trump's widespread business ventures and crypto investments continue to draw scrutiny from ethics watchdogs and lawmakers.
The controversy surrounding Trump's financial gains during his presidency highlights the need for greater transparency and accountability in the highest office.
As investigations into Trump's profits continue, the debate over the intersection of personal wealth and presidential power intensifies.