"The crypto legislation heading to the Senate floor must stop the President and his family from continuing to profit off crypto," Warren, the Democratic senator from Massachusetts, said.
Illinois Lieutenant Governor and Democratic Senate candidate Juliana Stratton also criticized the president, writing on X: "Donald Trump uses the office of the president to make billions while American families struggle to afford their basic needs. His infinite greed is disgusting."
The reactions came after Trump's annual financial disclosure filed with the US Office of Government Ethics showed, as per Reuters report, that cryptocurrency has become the largest source of his income, benefiting from an industry that has seen favorable policy changes under his administration.
Crypto dominates Trump's income
According to the filing, Trump's companies received nearly $800 million from World Liberty Financial, the cryptocurrency venture he co-founded with his sons. The income included more than $520 million from crypto token sales and over $250 million from the sale of ownership interests in the business.
The president also reported $635 million from sales of his Trump meme coins, taking his total reported crypto-related income to more than $1.4 billion for the year.
The latest disclosure marks a sharp increase from the previous year, when Trump reported $57.35 million from World Liberty token sales.
White House rejects conflict-of-interest allegations
Responding to criticism, White House spokesperson Anna Kelly denied any conflict of interest.
"Neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest. President Trump proudly made the United States the crypto capital of the world through executive actions," Kelly said.
She added that all decisions taken by the administration were in the best interests of the American people and dismissed allegations as a "false narrative."
The White House has previously said Trump's business interests are managed by his children, although the president remains the beneficiary of the trust that receives the income.
Other businesses continue to generate millions
While crypto accounted for the bulk of Trump's earnings, his traditional businesses also posted strong results.
More than $80 million from settlements with media companies.
$52 million from licensing his name to overseas real estate developers, largely in the Middle East.
More than $500 million in revenue from golf courses and resorts, a 15% increase from 2024.
Revenue at Mar-a-Lago rose to $77 million, up from $50 million a year earlier.
Trump also obtained a more than $50 million loan from Charles Schwab Bank.
(With inputs from Reuters)
