Does Trump worry about conflicts of interest? He says no

President Donald Trump said he does not worry about conflicts of interest between his family's businesses and his administration. In a New York Times interview, he told reporters he "found out that nobody cared, and I'm allowed to" after restricting his family's overseas deals in his first term brought him no credit. The remark lands as a new financial disclosure shows roughly $1.4 billion in crypto earnings since his second term began—a scale ethics watchdogs call unprecedented.

Key Takeaways

• Trump told The New York Times he sees no reason for his family to limit international business after getting "no credit" in his first term.
• A financial disclosure released this week shows about $1.4 billion from crypto ventures including $TRUMP and World Liberty Financial.
• Treasury Secretary Scott Bessent said he does not see an "appearance problem" with the president's crypto earnings.
• The New Yorker reported Trump cashed in on his office for billions while many crypto investors were less fortunate.
• The White House insists there are no conflicts of interest; congressional Democrats disagree.

What Did Trump Say About Conflicts of Interest?

In a wide-ranging Oval Office interview with The New York Times, Trump made clear that his family's global moneymaking does not trouble him. He said he prohibited international deals during his first term specifically to allay concerns, yet received only criticism.

"I prohibited them from doing business in my first term, and I got absolutely no credit for it," Trump said. "I didn't have to do that. And it's really unfair to them." He added: "I found out that nobody cared, and I'm allowed to."

Trump compared his approach to George Washington's business during the presidency, though he said he does not conduct business himself. He described his family as "very honest" and noted he has never accepted his presidential salary. The episode marks a broader wealth-and-politics debate over how much presidents should profit while in office.

How Much Did Trump Report Earning From Crypto?

According to a financial disclosure released earlier this week and cited by CBS News, Trump has earned approximately $1.4 billion from cryptocurrency ventures since beginning his second term. Those include his $TRUMP meme coin and earnings from World Liberty Financial, a company backed by the president and his family.

Writing in The New Yorker, David D. Kirkpatrick said the president cashed in on his office to the tune of billions last year, largely through the sale of crypto tokens. Kirkpatrick reported that seventy-five percent of World Liberty token sale proceeds flowed to Trump and his family—an arrangement he said left many investors less fortunate than the founders.

How Has the Administration Responded to Criticism?

Congressional Democrats have argued Trump's crypto windfall presents a conflict of interest, pointing to administration efforts to loosen cryptocurrency regulations. White House spokesperson Anna Kelly told CBS News there are "no conflicts of interest" in the disclosure.

In a July 2 interview with CBS News, Treasury Secretary Scott Bessent said, "I don't think there's an appearance problem," when asked about the president's earnings. He framed the administration's approach as pro-innovation: "This is an innovation presidency," Bessent said, pointing to digital access, AI, and broader tech ecosystem growth.

Trump defended his crypto advocacy in the Times interview, saying he "got a lot of votes because I backed crypto." He said his push is meant to make the United States the industry's global leader, arguing, "China wanted it, and one of us was going to get it." A number of companies tied to the Trumps' crypto enterprises have benefited from a rollback in securities enforcement, the Times reported.

Why Does This Episode Matter for Presidential Ethics?

The president's comments follow a year in which his family engaged in a profit-making campaign unlike any in modern American history, according to the Times. Ethics watchdogs cited by The New Yorker have said no other president has so openly exploited the office at such scale.

For readers tracking how wealth intersects with power, the disclosure and Trump's blunt rationale offer a rare window into a presidency where financial and policy lines increasingly blur. Full details are in the New York Times reporting and the administration's public defenses to CBS News.