US President Donald Trump made more than $1bn (£750m) last year from business dealings in cryptocurrency, according to his mandatory financial report for 2025.

In a 927-page disclosure, he reported $635m in royalties from a Trump meme coin that has plunged in value since he launched it three days before taking office.

He also reported over $500m in income from World Liberty Financial, a cryptocurrency firm founded by his own sons and the children of his special envoy, Steve Witkoff.

He earned millions more from real estate, Trump-themed Bibles, watches and other items. But the White House denied he was profiting from the presidency.

Much of the income was from transactions with World Liberty Financial, a venture from which Trump and family members receive 75% of the company’s net proceeds.

Trump had previously criticised cryptocurrency, famously calling Bitcoin a “scam” and a “disaster waiting to happen”.

His financial disclosure last year, however, represents a significant increase in moneymaking compared with the year prior, when Trump disclosed over $600m in income.

White House deputy press secretary Anna Kelly rejected any suggestion of ethical concerns and said Trump had proudly made the US “the crypto capital of the world”.

“Neither the President nor his family has ever engaged – or will ever engage – in conflicts of interest,” she said in a statement.

She added: “All actions by President Trump and his administration are taken in the best interest of the American people – and any so-called ‘reporters’ pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade.”

In addition to the larger amounts of income from crypto-related transactions, Trump’s disclosure also shows several relatively smaller transactions worth several millions of dollars related to sales from several digital wallets that hold such currency and assets.

First Lady Melania Trump also listed her income from last year in the disclosure.

She made $10.7m from a “license agreement” related to the documentary about her that was released last year.

Another $6m in income is listed for her from another agreement related to the sale of NFTs, digital images that are sold online.