As a presidential candidate, Donald Trump had a habit of accusing his rivals of trying to capitalize on public office. Exactly 10 years ago last week, for example, the Republican argued that Hillary Clinton had “perfected the politics of personal profit.” In 2020, he similarly declared, “Politicians ran for office, promising to protect American workers. But then they went to Washington, and they lined their pockets.”

Vote for him, Trump said, and he’d be different. Vote for the man who’s already wealthy, his party said, and he wouldn’t even have to try to profit from the presidency.

So much for that idea. MS NOW reported:

President Donald Trump reported more than $1.4 billion in cryptocurrency-related income in his latest annual financial disclosure released Tuesday, with digital assets emerging as the largest source of his personal earnings during his second term.

The 927-page disclosure, covering 2025 and filed with the U.S. Office of Government Ethics, shows Trump earned more than $500 million from World Liberty Financial, the cryptocurrency company he co-founded in 2024 with his sons, Eric Trump and Donald Trump Jr. He also reported another $635 million in income tied to sales of the $TRUMP meme coin.

A related New York Times report noted, “All told, the president pulled in at least $2.2 billion, a figure that includes other parts of his vast holdings, such as his real estate assets. That compares to a minimum of $622 million his enterprises pulled in for all of 2024, before he returned to the presidency.”

Cynics who might think this is somehow normal, as if every president takes advantage of power to amass vast personal wealth, are mistaken. A Washington Post report added, “No past president has seen financial gains in office like those reported by President Donald Trump this week.”

Making matters worse is the overlap between Trump’s powers and his profits: A separate New York Times report noted, “Many of the gains stemmed from ventures that intersect with his administration, posing unparalleled potential conflicts of interest.” (Pressed on his penchant for mixing business and politics, and the obvious conflicts that have emerged, the president said earlier this year, “I found out that nobody cared.”)

The Republican has had plenty of time to come up with some kind of coherent defense for his 2025 windfall, but when pressed by reporters Wednesday, he had little to offer.

Trump began by claiming he doesn’t “get involved” in his personal finances, which wasn’t much of a response. For one thing, he’s used his platform to promote the ventures that put money in his pocket. For another, the president has hardly created an impenetrable firewall: The New York Times recently reported that he meets with his financial advisers once a year for an update on his accounts.

(As Trump made the comments, two of his adult kids — Eric and Donald Trump Jr. — were seen standing behind him, which was notable in large part because they help manage his financial interests.)

During his brief Q&A with reporters Wednesday, the Republican said, “Well, I made a lot of money before I became president.” That’s largely true but entirely irrelevant: The question is about whether Trump is profiting enormously from the presidency, even as Americans struggle with a weak economy.

But that helped set the stage for the pièce de resistance.

“You know why I’m profiting? Because the stock market’s going up; everybody’s profiting,” Trump said. Referring to himself in third person, he added, “Thank you, President Trump. So, we’re all profiting.”

Except there are millions of Americans struggling to get by, living paycheck to paycheck. The idea that his yacht just happens to be rising from a tide lifting all boats is absurd. What’s more, while Trump has cashed in on crypto deals, most of the investors who followed his lead actually lost money — contradicting his “everybody’s profiting” boasts.

About a year ago, White House press secretary Karoline Leavitt told reporters during a briefing, “I think it’s frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit. He left a life of luxury and a life of running a very successful real estate empire for public service, not just once but twice. … This is a president who has actually lost money for being president.”

The lecture was foolish at the time. It’s worse now.

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From MS Now.