A newly filed federal ethics disclosure shows that cryptocurrency-linked ventures tied to Donald Trump generated well over a billion dollars in proceeds over the reporting period, alongside a real estate and licensing portfolio that continues to carry significant secured debt.
The figures come from the President's annual Office of Government Ethics Form 278e, covering the 2025 reporting year and filed after a 45-day extension. The document runs to 847 pages and lists hundreds of holding entities, most channelled through the Donald J. Trump Revocable Trust and DJT Holdings LLC.
The largest single driver of new wealth came from World Liberty Financial, the decentralized finance venture in which an affiliated entity, DT Marks Defi LLC, held a 38.25% stake. The filing records $65.6 million in proceeds from an equity sale in that stake, plus a further $236.25 million in general token sale distributions.
Additional wallet-by-wallet breakdowns tied to the same World Liberty Financial token sales add substantially more. Ethereum proceeds alone came to $150.6 million, Bitcoin proceeds to $33.5 million, and USDC proceeds to $56 million, with smaller distributions in Link, Aave, ENA, Move and Ondo tokens. Combined with the equity sale, total World Liberty Financial-linked proceeds disclosed on the form run to roughly $592 million.
Separately, a licensing arrangement with Celebration Coins, a meme coin venture, produced royalty income of $635.07 million for the period, the single largest income line on the entire filing.
Beyond the token sales, the filer's cold-wallet crypto holdings were themselves substantial, with Bitcoin and Ethereum positions each valued at over $50 million, the top disclosure bracket on the form. Ether staked through a Coinbase staking arrangement produced validator rewards of $1.8 million.
The filing confirms that 114,750,000 shares of Trump Media & Technology Group Corp common stock, subject to trading restrictions, remain held inside the revocable trust. The stake is valued in the form's top bracket of over $50 million, though the shares carry no reported income for the period.
Despite the scale of the crypto proceeds, commercial and residential real estate remains the largest category on the form by number of entries. Properties valued at over $50 million, the disclosure's highest bracket, include 1125 South Ocean in Palm Beach, 40 Wall Street in Manhattan, and golf clubs in Colts Neck, New Jersey and Washington, D.C. The Colts Neck club alone generated $17.5 million in golf-related revenue, while the Washington club generated $24.9 million.
A tenancy in common interest in 1290 Avenue of the Americas, held through several affiliated entities, is also valued above $50 million, though it produced no reported income for the period after a net partnership loss.
On the liabilities side, the filing lists a pledged asset line with Charles Schwab Bank exceeding $50 million, carrying a 3.9% rate, taken out in 2025. Mortgages on Trump Tower and Trump National Doral, both with Axos Bank, remain outstanding at over $50 million each, at 4.25% and 4.9% respectively, maturing in 2032.
Several other mortgages were paid off during the period, including loans against Seven Springs, 40 Wall Street and the 1125 South Ocean Boulevard property in Palm Beach. A Ladder Capital loan tied to a New York commercial property is due to mature this year. Litigation liabilities include a judgment from writer E. Jean Carroll, still stayed pending appeal, and a New York attorney general judgment listed as overturned on appeal.
Amid the nine and ten-figure crypto and real estate entries, the filing also discloses two long-standing union pensions. A Screen Actors Guild pension, dating to 1992, pays $6,484 a month. A second pension from the American Federation of Television and Radio Artists, dating to 1989, pays $727 a month.
The disclosure also lists gifts received during the period, including sports tickets from organizations such as the PGA of America and FIFA, and a sculpture valued at $250,000.
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