Donald Trump’s latest financial disclosure, released by the US Office of Government Ethics on June 30, landed with the subtlety of a phone book dropped on a marble floor. The filing ran 927 pages. For comparison, Barack Obama’s final disclosure was eight pages. Joe Biden’s was eleven.

Buried inside that mountain of paperwork is a number that should make every crypto market participant sit up straight: somewhere between $1B and $1.4B in cryptocurrency-related income during his first year back in office.

Where the crypto money came from

Two family-linked ventures did the heavy lifting.

World Liberty Financial, the DeFi project tied to the Trump family, generated approximately $515M to $526M. That revenue came from governance token sales and its USD1 stablecoin.