Washington — Former president Donald Trump told reporters on July 1, 2026 that “everybody is profiting” from his cryptocurrency holdings while refusing to identify the managers of the assets, a day before his scheduled flight to North Dakota. The remarks came as Trump fielded questions about a pending Supreme Court case, the proposed Save America Act, and his latest annual financial disclosure, which lists more than $1 billion in crypto earnings.
What happened
During a press briefing ahead of his North Dakota trip, Trump was asked about the source of his cryptocurrency earnings. He responded, “We have funds that run my money well. I’ve made a lot of money before I became president. They’re big institutions, and they run it … I think it’s called a ‘blind account’, but they basically take it, and I purposely never speak to any of the people that run the money”【1】. He added that “everybody is profiting,” implying that the gains are shared broadly. The comments were made while reporters also pressed him on the Supreme Court case concerning birthright citizenship and the Save America Act, but the cryptocurrency question dominated the exchange.
Why it matters
The statement arrives as Trump is under federal scrutiny for the completeness and accuracy of his financial disclosures. A filing with the Office of Government Ethics earlier in July listed his cryptocurrency holdings at roughly $300 million, a figure far below the “over $1 billion” Trump cited in the briefing【1】. Because the filing required disclosure of assets exceeding $5,000, but did not include an independent audit of the crypto valuations, the discrepancy raises questions about the transparency of a former president’s digital‑currency portfolio.
Congressional committees have already demanded a more detailed accounting of Trump’s crypto investments, citing potential conflicts of interest given his ongoing political activities and the possibility that the assets could be leveraged for campaign financing or policy influence. The lack of clarity about the “blind account” – a term that typically denotes an investment vehicle where the investor does not know the specific holdings or managers – makes it difficult for oversight bodies to assess compliance with ethics rules that prohibit undisclosed financial interests influencing official actions.
Background and context
Trump’s 2025 financial disclosure, the first required after the 2024 election, marked the first time a former U.S. president listed cryptocurrency holdings in a public filing. The disclosure, submitted to the Office of Government Ethics, listed a range of assets, including real estate, stocks, and digital currencies, with the crypto component valued at approximately $300 million. The filing did not provide a breakdown of specific coins, the custodial arrangements, or the valuation methodology, noting only that the assets were held in “various accounts” managed by “third‑party institutions.”
The term “blind account” has been used in finance to describe a fund where the investor delegates all investment decisions to a manager without insight into the underlying holdings. In the context of cryptocurrency, such arrangements are rare because regulatory requirements often demand transparency about custodial controls and anti‑money‑laundering compliance. Critics have pointed out that a blind structure could obscure the source of funds, the identity of counterparties, and the applicability of U.S. sanctions regimes.
Competing claims and uncertainty
Trump’s claim of “over $1 billion” in crypto earnings conflicts with the $300 million figure reported in the ethics filing. Two primary explanations have been offered:
1. Rapid market appreciation – Supporters argue that the cryptocurrency market experienced a surge in early 2026, with major coins like Bitcoin and Ethereum reaching record highs, potentially inflating the value of Trump’s holdings from $300 million to over $1 billion within months. No independent valuation has been released to confirm this trajectory.
2. Inflation of numbers for political effect – Skeptics contend that Trump may be exaggerating the size of his crypto portfolio to bolster an image of financial success, especially as he positions himself for a possible 2028 presidential run. The absence of audited statements or third‑party verification leaves the claim unsubstantiated.
Both explanations are hindered by the opacity of the “blind account.” Without access to transaction records, custodial agreements, or independent appraisals, regulators and journalists cannot verify the actual market value or the timing of any gains. Moreover, the ethics filing’s valuation methodology—whether based on market price at a specific date, an average over a period, or an internal estimate—has not been disclosed.
What to watch next
– Congressional oversight – The House Committee on Oversight and Reform has scheduled a hearing for late July to question Trump’s financial advisers about the structure and valuation of the crypto holdings. Lawmakers have requested copies of the blind account agreements and any third‑party audit reports.
– Department of Justice inquiry – A separate DOJ probe, launched in May 2026, is examining whether Trump’s crypto earnings were reported accurately for tax purposes. The investigation could intersect with the ethics filing if discrepancies are found.
– Supreme Court case – While unrelated to the crypto issue, the pending Supreme Court decision on birthright citizenship may influence the political calculus surrounding Trump’s public statements. A favorable ruling could embolden his campaign narrative, potentially affecting how aggressively oversight bodies pursue the crypto matter.
– Market movements – Cryptocurrency price volatility in the coming weeks will provide indirect evidence of whether Trump’s claimed $1 billion valuation is plausible. A sustained rally could lend credence to the “rapid appreciation” explanation, while a market decline would heighten doubts.
Conclusion
Donald Trump’s assertion that “everybody is profiting” from his cryptocurrency holdings adds a new layer to the ongoing scrutiny of his finances. The gap between the $300 million figure disclosed to the Office of Government Ethics and the “over $1 billion” Trump cited underscores a lack of transparency that challenges both congressional oversight and public trust. Until independent audits, custodial agreements, or detailed valuations are made public, the true scale of Trump’s crypto earnings will remain uncertain, and the “blind account” he describes will continue to be a focal point for investigators seeking to determine whether any conflicts of interest or legal violations exist.
Sources
– The Guardian, “Donald Trump cryptocurrencies Supreme Court birthright citizenship Save America Act latest news updates,” July 1 2026, https://www.theguardian.com/us-news/live/2026/jul/01/donald-trump-cryptocurrencies-supreme-court-birthright-citizenship-save-america-act-latest-news-updates.
Story synopsis gathered from: The Guardian World — source
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