Trump Denies Profiting from the Presidency and Cryptocurrency

On May 5, Trump responded to external doubts during an interview. Previously, host Welker specifically mentioned Trump's cryptocurrency TRUMP, which, according to Chainalysis data, earned Trump and his allies nearly $900,000 in transaction fees within just two days last month. This surge in income coincided with the announcement on the token's official website that the first 220 holders would have the opportunity to dine with the president.

Welker inquired about the claim that Trump was "profiting from the presidency," to which Trump insisted, "I did not profit from it." When Welker pressed again on whether he had not profited at all from cryptocurrency, Trump replied, "I haven't even looked at it." He added, "If I own stock in a company, and I do well, and the stock market goes up, I guess I have profited."

Since the dinner announcement, the price of the TRUMP token has surged over 50%. The project website revealed that about 80% of the TRUMP token supply is controlled by Trump's organization and its affiliates. Last week, campaign finance and government accountability experts told NBC News that while the token and the dinner event may not be illegal, they constitute an ethical violation. Some Republican lawmakers who support Trump expressed concern, while prominent critics like California Democratic Senator Adam Schiff and Massachusetts Democratic Senator Elizabeth Warren have urged the U.S. government's ethics office to conduct an investigation.

Looking back at Trump's first term, he and his family members have been repeatedly accused of profiting from the presidency. However, Republicans typically defend him, claiming that this is merely a continuation of Trump's long business career and that there is nothing inappropriate about it.