Maryland Gov. Wes Moore said there is “something fundamentally wrong” with President Trump making more than $1 billion in cryptocurrency profits, criticizing both the executive and legislative branches for their handling of digital assets. Moore’s comments, made on Fox News Sunday on July 5, highlighted Democratic concerns over Trump’s crypto earnings and potential conflicts of interest.
Trump’s personal financial disclosures released June 30 revealed he earned over $1.4 billion from crypto ventures in 2025, with more than $500 million coming from World Liberty Financial, the crypto company he co-founded with his sons Eric and Donald Trump Jr. in fall 2024. The disclosure showed cryptocurrency became his largest source of business income.
“I do have an issue with some of the ways that we’ve now seen how we deal with cryptocurrency,” Moore said on the Fox News program. “The President of the United States has made more money on crypto than crypto companies in the past year. Like, there is something fundamentally wrong that has to be fixed with both the executive and the legislative branch when it comes to blame.”
Moore specifically raised concerns about Trump’s pardon of Binance founder Changpeng Zhao in October 2025. Zhao had pleaded guilty in 2023 to failing to maintain an anti-money-laundering program at Binance, the world’s largest cryptocurrency exchange. “I do have very real issues with some of the decisions that have been made when it comes to pardons where we watch people that the president’s pardoned that have turned around and invested in his children’s businesses,” Moore said.
Following the pardon, Binance deposited $2 billion into World Liberty Financial, creating what critics describe as a direct financial benefit to Trump’s crypto venture. The transaction highlights the interconnected nature of Trump’s crypto holdings and his regulatory decisions as president.
Trump defended his crypto earnings in interviews, telling CNBC on July 3 that there was “nothing illegal” about the profits. He also argued the U.S. must lead the crypto industry to offset China’s dominance, comparing it to artificial intelligence. “We have to be at the top,” he said. “Like for instance AI. We’re leading substantially in AI over China and everybody else.”
When pressed on whether he knew Zhao, Trump told CBS News he had no relationship with the Binance founder. “I don’t know the man at all. I don’t think I ever met him. Maybe I did. Or, you know, somebody shook my hand or something. But I don’t think I ever met him,” Trump said, adding that the pardon was “the right thing” to do.
Democratic lawmakers have framed Trump’s crypto profits as a conflict of interest. Multiple Democratic senators called for legislation to rein in crypto and limit the president’s ability to profit from such ventures. The House Judiciary Committee Democrats released a report describing Trump’s crypto dealings as a “new age of corruption,” noting that the Trump family raked in more than $800 million from crypto asset sales in the first half of 2025 alone.
The criticism extends to how Trump’s presidency has benefited his crypto interests. Reuters estimated the Trump family has made at least $2.3 billion from crypto-related projects since Trump returned to the White House. This windfall has dramatically increased his wealth, with Forbes estimating his net worth rose from $2.3 billion in 2024 to $6.5 billion in 2026, largely driven by crypto gains.
Sources
- The Hill — Wes Moore’s Fox News Sunday comments criticizing Trump’s $1 billion crypto profits and concerns about the Zhao pardon
- Reuters — Trump’s reported $1.4 billion in crypto venture income and family’s $2.3 billion total from crypto since 2025
- CBS News — Trump’s earnings from World Liberty Financial and Trump’s statements about Changpeng Zhao
- Wall Street Journal — Trump’s crypto windfall of over $1 billion in 2025
- PBS NewsHour — Trump’s crypto earnings and World Liberty Financial income details
- House Judiciary Committee Democrats — Report on Trump’s crypto dealings as corruption
