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Trump Defends WLFI Stake, Says Every President Faces Conflicts Over Business Interests
Trump argued that his sons should not have to stop running their businesses for four years simply because he is serving as president.
Brief
During a 60 Minutes interview at the White House over the weekend, the US leader rejected concerns about his stake in World Liberty, a crypto firm his sons manage. Asked by Ross Douthat whether Emirati backers might be seeking influence, he said his lack of knowledge about daily operations made the difference. He argued earlier presidents faced similar conflict questions and that his children should not have to pause their work. He added that most of his money sits in index funds at large Wall Street firms. Reporting noted he earned over $1.2 billion from crypto last year, nearly $600 million of it from WLFI. Separately, Senator Richard Blumenthal asked World Liberty, Binance, Tether and Fight Fight Fight LLC for records in a Senate inquiry into possible conflicts. No conclusion has been reached.
Why it matters: The development bears on how conflict-of-interest questions apply to crypto businesses linked to a sitting president and his family.
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