特朗普 25 年财务报告：家族靠加密年入超 10 亿美元，散户还在 $TRUMP 上亏钱

marsbitPublished on 2026-07-01Last updated on 2026-07-01

Abstract

特朗普2025年度财务披露显示，其家族加密业务全年入账约12亿美元，已超过经营数十年的主要地产收入。收入主要来自两部分：与世界自由金融公司相关的治理代币等产品销售带来超5亿美元；另一公司CIC Digital通过发行特朗普主题迷因币$TRUMP获得约6.35亿美元特许权使用费。 与此同时，相关加密资产价格大幅下跌。$TRUMP从高位74美元跌至1.68美元，世界自由金融代币自交易以来下跌80%，导致接盘散户普遍亏损。而特朗普关联实体仍持有大量代币。 报告还显示，特朗普的地产业务去年亦大幅扩张，从阿联酋、沙特等多国新项目中获得数千万美元收入。其总净资产估值升至60亿美元。 白宫否认存在利益冲突，称特朗普生意已交由信托管理，其政策只为公众利益。但美联社指出，这些海外交易多发生在威权或一党执政国家，难以界定“私营”性质，且相关国家在关税、技术获取等方面获得了美国政策利好。特朗普上任后对加密行业转向友好监管，与家族业务暴利形成对照。

作者:克洛德,深潮 TechFlow

深潮导读:特朗普 2025 年度财务披露显示,其加密业务全年入账约 12 亿美元,已超过经营数十年的大部分地产组合。钱分两处进账:世界自由金融卖治理代币等新型产品收入逾 5 亿美元,另一家公司 CIC Digital 靠迷因币 TRUMP 的特许权使用费拿下约 6.35 亿美元。与此同时, TRUMP 从上市初的 74 美元跌到 1.68 美元,世界自由金融代币较开盘跌八成,接盘的散户大面积套牢。

特朗普当上总统第一年,加密生意成了他最赚钱的业务。

据美联社报道,美国政府道德办公室 6 月 30 日公布了特朗普 2025 年度财务披露报告。这份长达 927 页的文件显示,特朗普家族的加密业务全年入账近 12 亿美元。作为对比,前总统奥巴马任内最后一份披露报告只有 8 页,拜登的 11 页,副总统万斯今年这份 17 页。

这些加密企业上任时还只是初创公司,如今营收已经超过特朗普积累了数十年的大部分地产组合。美联社在报道中直接点明,推动它们崛起的,是几位亿万富翁投资者,以及特朗普本人叫停联邦监管对加密行业围剿的政策转向。

两处进账:世界自由金融拿 5 亿,$TRUMP 迷因币拿 6.35 亿

这 12 亿美元不是从一个口袋里出来的,披露文件把它拆成了两块。

第一块来自世界自由金融公司(World Liberty Financial),这是特朗普家族与地产大亨 Steve Witkoff 共同持有的 DeFi 项目,由埃里克·特朗普和小唐纳德·特朗普参与创办。据美联社,特朗普从世界自由金融销售新型加密产品(包括「治理代币」)拿到逾 5 亿美元。治理代币不像股票,买了不代表持有公司股份,只有对某些公司事务的投票权,且难以估值——世界自由金融卖币之前,监管机构就发过风险警告。此外披露文件还显示,另有逾 2.9 亿美元被归类为世界自由金融关联加密钱包的收入,以及一笔逾 6500 万美元的世界自由金融控股公司股权出售。

第二块来自一家名为 CIC Digital LLC 的公司,靠销售印着特朗普头像的纪念品性质「迷因币」入账逾 6 亿美元。这里指的就是$TRUMP,2025 年 1 月特朗普第二次就职前几天在 Solana 链上发行的迷因币,披露文件中以「Celebration Coins」名目列出,金额约 6.35 亿美元,性质为特许权使用费(royalties)。

需要说明的是,这两块加起来约 11 亿至 12 亿美元,是市场普遍引用的口径;如果把上面提到的 2.9 亿美元钱包收入和 6500 万美元股权出售也算进去,部分媒体给出的总数会更高,去到 1.4 亿区间。总额随口径浮动,但「加密全年入账超 10 亿美元」这个判断没有争议。

特朗普赚翻了,接盘的散户在亏钱

披露文件只报营收,不报利润,所以无法知道特朗普具体赚了多少净利。但代币和迷因币的价格走势,替接盘方算清了另一笔账。

TRUMP 上市后几天冲到 74 美元以上,现在只卖 1.68 美元。世界自由金融的代币自去年 9 月开始交易以来跌了 80%。据独立数据,绝大多数迷因币买家都亏了钱, TRUMP 约 80%的代币供应仍由特朗普关联实体按归属计划(vesting)持有。

买家里有名有姓的一位,是中国出生的亿万富翁孙宇晨(Justin Sun)。据美联社,他在世界自由金融的治理代币 WLFI 上花了 7500 万美元,在迷因币上花了 2 亿美元。去年 2 月一桩指控他欺骗投资者的联邦诉讼一度暂停,上月以 1000 万美元罚款和解。孙宇晨一直否认他在特朗普生意上的花费与其联邦案件有任何关联,世界自由金融也否认存在利益冲突。

一边是特朗普锁定收益,一边是散户被套。

加密已经盖过地产,成了特朗普的招牌生意

特朗普当年靠地产赢家的名头入主白宫,如今加密业务的崛起盖过了地产,这一点尤其值得留意——因为他的地产生意去年也在猛涨。

据美联社,特朗普去年从一批新的海外酒店、度假村和公寓项目中收取了数千万美元费用,是这家百年家族企业史上最大规模的地产扩张。而这些国家里,不少正在与美国就关税、军事援助等重要事务谈判。阿联酋一处物业进账 1040 万美元,沙特一处(由与统治家族关系密切的地产开发商建造)向特朗普公司汇入 900 万美元,罗马尼亚布加勒斯特和卡塔尔各汇入 500 万美元。国内的马阿拉歌庄园去年进账 7700 万美元,比他还是普通公民的前一年跳涨 50%。

福布斯估算特朗普净资产为 60 亿美元,高于 2024 年的 23 亿美元。

白宫:特朗普只为公众利益行事,不存在利益冲突

面对利益冲突质疑,白宫反复强调,特朗普已将其生意放入由儿子们管理的信托,不存在任何冲突,他只为国家利益行事。特朗普旗下的伞形公司特朗普集团则称,其海外交易是与私营公司而非政府达成的。

但美联社指出,在由威权者、王室或一党执政的国家,很难判断什么才算「私营」。以越南一处新的特朗普度假村为例,披露文件显示特朗普去年从中进账 500 万美元,而据《纽约时报》,越南执政党派出副总理为交易背书,还把农民赶离土地为工程让路。

这些交易究竟有没有换来美国政策的调整,几乎无从查证,但这些国家确实拿到了想要的东西:越南获得关税减免,卡塔尔拿到此前被限制的先进美国技术,沙特得到觊觎多年的美国战斗机。

监管这条线还在。世界自由金融开卖治理代币前,监管机构就警告过这类新型加密资产的风险。特朗普上任后逆转了拜登政府对加密行业的强硬立场,转而推行对行业友好的政策——一手放松监管,一手家族靠加密入账超 10 亿美元,这份披露文件把两者摆在了同一页上。

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
aPrioriAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
mantra
MantraMANTRA
xvs
VenusXVS
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
zrx
ZRX（0X）ZRX
cake
PancakeSwapCAKE

Related Questions

Q特朗普2025年度财务披露报告中，加密业务收入主要来自哪两个部分？

A主要来自两个部分：一是与世界自由金融公司（World Liberty Financial）相关的业务，通过销售治理代币等新型加密产品获得超过5亿美元收入；二是通过CIC Digital LLC公司，依靠迷因币TRUMP的特许权使用费获得约6.35亿美元收入。

Q文章中提到特朗普家族的加密业务收入与他的地产收入相比如何？

A特朗普家族的加密业务在2025年入账近12亿美元，其营收已经超过了他经营数十年的大部分地产组合的收入。尽管其地产生意去年也在猛涨，但加密业务的崛起在财务上显得更为突出。

Q迷因币TRUMP的价格经历了怎样的变化？

A迷因币TRUMP在2025年1月上市后，价格曾一度冲到74美元以上，但随后大幅下跌，文章发布时的价格仅为1.68美元。

Q文章指出了特朗普加密业务高收入与散户投资亏损之间存在什么反差？

A文章指出，特朗普家族从加密业务中获得巨额收入的同时，购买相关代币（如TRUMP和世界自由金融的代币）的散户投资者却大面积亏损。例如，TRUMP币价暴跌，世界自由金融的代币自交易以来也下跌了80%，形成了特朗普家族锁定收益而散户被套牢的鲜明对比。

Q白宫如何回应外界对于特朗普家族业务可能存在利益冲突的质疑？

A白宫反复强调，特朗普已将其生意放入由儿子们管理的信托中，因此不存在任何利益冲突，特朗普只为国家利益行事。特朗普集团也声称其海外交易是与私营公司而非外国政府直接达成的。

Related Reads

YouTube Crypto Channel Views Drop 70% by 2026, Retail Attention Crisis Reshaping Next Cycle

Major cryptocurrency YouTube channels are experiencing a severe decline in viewership, signaling a potential crisis in retail investor attention for the next market cycle. Analysis of six top channels shows monthly view counts have plummeted 27% to 79% compared to January 2025, with four channels down approximately 75%. While subscriber counts remain high (e.g., Coin Bureau with 2.72M, Altcoin Daily with 1.65M), current engagement tells a different story. Recent 30-day view counts are significantly lower: Coin Bureau at 1.24M views, Crypto Banter at 1.06M, with Altcoin Daily and Benjamin Cowen performing relatively better at 1.79M and 1.8M respectively. The core issue is that subscriber numbers are cumulative and reflect past interest, while views measure current demand. The dramatic drop indicates a fragmented and more selective retail audience. This contrasts sharply with the 2021 bull market, where channels reportedly garnered 3-4 million daily views. Now, daily views for major channels range from roughly 35,000 to 60,000. This divergence suggests a new type of market cycle. Bitcoin's price can be sustained by ETFs and institutional activity, but without strong retail engagement via content channels, the dynamics of the next bull run will be fundamentally different. The real signal for a retail resurgence will be a sustained increase in daily and monthly view counts, not subscriber growth. If viewership fails to recover, long-form YouTube content may become a lagging indicator, with retail attention shifting to other, faster formats.

marsbit47m ago

YouTube Crypto Channel Views Drop 70% by 2026, Retail Attention Crisis Reshaping Next Cycle

marsbit47m ago

Confirmed: Claude Code Secretly Inspects Users, Time Zone and Chinese AI Labs Are Key Factors

Today was a significant day for Anthropic. The company announced the launch of Claude Sonnet 5, described as its most agentic model yet, and separately confirmed that the U.S. Department of Commerce has lifted export controls on its Claude Fable 5 and Mythos 5 models, allowing their distribution to resume. However, a separate controversy has emerged regarding its coding assistant, Claude Code. Developers have exposed that certain versions of the tool allegedly contain hidden code designed to detect specific user data. This code reportedly checks for the use of Chinese time zones (like Asia/Shanghai), the presence of custom API proxy URLs, and connections to domains associated with Chinese tech companies and AI labs. If triggered, this information is said to be encoded into the system prompt sent to the AI cloud, using subtle, nearly indistinguishable variations in characters (like different Unicode apostrophes in the "Today's date" line) as a form of steganography. The core issue is the covert nature of this data collection. While telemetry for security and abuse prevention is common, implementing it through hidden channels within the prompt—without user awareness or documented disclosure—fundamentally breaches trust. This is particularly sensitive for a coding assistant that operates with access to source code and system commands. Following the exposure, an Anthropic engineer acknowledged the code's existence and stated it would be removed in an upcoming release. The incident raises serious questions about transparency and the boundaries of data collection in AI developer tools.

marsbit1h ago

Confirmed: Claude Code Secretly Inspects Users, Time Zone and Chinese AI Labs Are Key Factors

marsbit1h ago

Grayscale: After Halving, BTC is Nearing the Bottom of This Cycle

Grayscale Research suggests Bitcoin's recent decline below $60,000, a >50% drop from its October peak, represents a cyclical correction within a long-term uptrend rather than a trend reversal. Key factors behind the pullback include a shift in market expectations toward Federal Reserve rate hikes under new Chair Kevin Warsh, uncertainty around the CLARITY Act's Senate passage, pressure on leveraged entities like Strategy, and concerns over quantum computing risks. The path out of the current bear market hinges on upcoming catalysts. An optimistic scenario, where the CLARITY Act passes, leverage is contained, and the Fed refrains from hiking, could mean Bitcoin is nearing its cycle bottom. A pessimistic scenario, featuring legislative failure, further deleveraging, and Fed rate hikes, could lead to additional moderate downside. Grayscale does not expect a historically deep ~80% drawdown due to a more measured prior bull run and stickier institutional demand. Despite short-term headwinds, Grayscale remains highly optimistic about crypto's long-term structural prospects, driven by institutional adoption of public blockchains, unsustainable government debt, declining trust in intermediaries, and AI's potential demand for alternative systems. The report concludes that while the exact cycle low depends on near-term catalysts, current valuations present an attractive entry point for long-term investors betting on the decade-ahead growth of digital assets.

marsbit1h ago

Grayscale: After Halving, BTC is Nearing the Bottom of This Cycle

marsbit1h ago

Web3 Bear Market Survival Guide: Ten Great Books to Help You Navigate the Cycles

"Web3 Bear Market Survival Guide: Ten Books to Help You Navigate the Cycle" This article presents a curated book list aimed at helping Web3 enthusiasts and professionals endure and grow during crypto market downturns. It argues that bear markets are not just periods of waiting but crucial times for deepening one's foundational understanding beyond technical whitepapers and price charts. The ten recommended books offer perspectives on technology, economics, philosophy, and strategy to build resilience and long-term vision. The list includes: 1. **"The Inevitable" by Kevin Kelly:** For using a long-term technological lens to combat uncertainty about the future, including the role of crypto and AI. 2. **"Human Action" by Ludwig von Mises:** To upgrade one's economic and philosophical framework, understanding action, speculation, and calculation in a bear market context. 3. **"The Nature of Technology" by W. Brian Arthur:** For viewing blockchain and crypto as combinatorial evolutions of existing technologies, understanding their modular and economic development. 4. **"The Distant Savior" (Chinese novel):** Explores the cultural attributes of self-reliance ("strong culture") versus dependency ("weak culture"), crucial for surviving industry cycles. 5. **"The Sovereign Individual" by James Dale Davidson & Lord William Rees-Mogg:** A prophetic 1997 work on how technology empowers individuals and challenges nation-states, foreshadowing Bitcoin's emergence. 6. **"Japanization: What the World Can Learn from Japan's Lost Decades" (Adapted title):** Uses Japan's economic history as a case study to identify structural opportunities that persist even during broader recessions. 7. **"Denationalisation of Money" by F.A. Hayek:** The ideological blueprint for Bitcoin, arguing for competitive currency issuance beyond state monopoly. 8. **"Duan Yongping Investment Q&A" (Chinese compilation):** Emphasizes the simple discipline of "doing the right things and doing things right," focusing on fundamentals and maintaining a "stop doing list." 9. **"The Network State: How To Start a New Country" by Balaji Srinivasan:** A visionary text from a crypto insider outlining bold predictions and concrete ideas for a blockchain-based future across media, governance, and identity. 10. **"Selected Works of Mao Zedong" (Vol. 1):** Analyzed as a strategic playbook for a weak force challenging a powerful establishment, offering lessons on strategy, alliance-building, and perseverance for the crypto movement. The conclusion states that bear markets filter out those with weak conviction, not weak skills. Survival depends on cognitive depth and mental fortitude, which these books aim to provide.

Foresight News2h ago

Web3 Bear Market Survival Guide: Ten Great Books to Help You Navigate the Cycles

Foresight News2h ago

Who is the Most Profitable Man in the Crypto World? Trump Rakes in Over $1.427 Billion in 2025

Who is the most profitable man in crypto? President Trump's 2025 financial disclosure, filed with the Office of Government Ethics, reveals crypto-related earnings exceeding $1.427 billion, starkly contrasting the broader market downturn. The bulk of this wealth stems not from passive investment but from his entities' roles as issuers and licensors. CIC Digital LLC, his memecoin operation, generated approximately $636 million in 2025, primarily from "Celebration Coins" royalty fees. DT Marks Defi LLC, a stakeholder in World Liberty Financial, earned about $594 million from asset sales and token distribution proceeds. Other entities held significant Bitcoin, Ethereum, and various altcoin wallets, along with substantial income from stablecoin ventures and his wife's NFT sales. This "issuer model" shields him from market downturns. While his namesake memecoin plummeted from ~$74 to ~$1.68, leaving many retail investors at a loss, his royalty income remained unaffected. The disclosure emerges as the U.S. Senate debates the CLARITY Act, which includes contentious ethics provisions aimed at preventing officials from profiting from the crypto sector they regulate. Critics argue Trump's earnings exemplify a critical conflict of interest, fueling demands for stricter rules to separate regulatory power from personal financial gain in the industry.

Foresight News2h ago

Who is the Most Profitable Man in the Crypto World? Trump Rakes in Over $1.427 Billion in 2025

Foresight News2h ago

Trading

Spot

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of S (S) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow