United States President Donald Trump's financial statements show that, at the same time that he and his two eldest sons encouraged investors to invest money in cryptocurrency projects — which ended up generating large losses for many retail investors —, his wealth managers directed a significant portion of these profits to investments considered safer. Trump received more than $1.4 billion last year through his family's cryptocurrency projects, including World Liberty Financial and the Trump meme coin, according to his most recent financial disclosure filed with the U.S. Office of Government Ethics. A Reuters analysis of the president's investments over the past two years shows that his stock and bond portfolios grew at least four times with the influx of funds from cryptocurrencies. At the end of 2025, Trump had between US$703 million and US$2.6 billion in traditional financial assets, compared to assets between US$225 million and US$608 million at the end of 2024. The documents report ranges of values, and not exact amounts, which makes it impossible to accurately determine how much of the gains from cryptocurrencies were allocated to lower-risk investments. Although Trump has kept part of his profits in digital assets, nine cryptocurrency experts interviewed by Reuters stated that the documents suggest that the Republican president does not use cryptocurrencies as his main reserve of wealth. In addition to bitcoin and World Liberty Financial, Trump also failed to declare stakes in two publicly traded cryptocurrency companies backed by his sons, Eric Trump and Donald Trump Jr. "While the president promotes digital assets as the future of finance and advocates for the United States to become the cryptocurrency capital of the world, his asset declaration indicates a strategy of quickly profiting from these assets — through the sale of the meme coin and World Liberty tokens — and then shifting those proceeds into traditional investments such as stocks and bonds," Timothy said. Massad, director of the Digital Asset Policy Project at Harvard University's John F. Kennedy School of Government. Massad chaired the Commodity Futures Trading Commission (CFTC) during the Barack Obama administration. A Reuters report published last month showed that retail investors in the four main Trump-linked cryptocurrency projects had racked up losses of $2.3 billion by April. Trump organization says it maintains a conservative profile The documents show that Trump still owns a significant amount of tokens from World Liberty Financial, a company co-founded by him and his children, expanding his exposure to the digital asset market. At the end of 2025, the president held 15.75 billion World Liberty governance tokens, valued at more than $50 million. The assets were received as part of your interest in the company. As a co-founder, Trump is subject to a longer grace period before he can sell these tokens. The companies responsible for managing the president's interests in World Liberty Financial and Trump's meme currency held among their assets at least US$160 million in bitcoin and ether, the two largest cryptocurrencies on the market, in addition to up to US$6 million in other tokens at the end of 2025. At the end of 2024, Trump had declared owning between US$1 million and US$5 million in ether. In a statement, a spokesperson for the Trump Organization said the president's financial statement demonstrates that the company "continues to maintain a solid financial position, supported by valuable world-class assets, ample liquidity and a conservative balance sheet." The representative did not explain why Trump directed some of the profits made from cryptocurrencies into stocks and bonds. The White House told Reuters that the president's assets are in "completely discretionary accounts managed by independent financial institutions." David Wachsman, spokesman for World Liberty Financial, stated that "World Liberty was built with a long-term focus and firmly believes that the future of financial services will be built on digital asset technology." Trump's children defend cryptocurrencies Trump's children manage the trust fund responsible for the president's assets and have been some of the main public defenders of cryptocurrency projects linked to the family. Since November 2024, Eric Trump, who heads the Trump Organization, has repeatedly stated in interviews and conferences that bitcoin is "the greatest asset of modern times" and that its price could reach US$1 million, compared to around US$64,000 at the time of his statements. Eric Trump also stated last year that his father "believes deeply in digital assets." Neither Eric Trump nor Donald Trump Jr. responded to Reuters' requests for comment on the president's investments.