Trump and his family earned more than $1 billion in 2025, primarily from cryptocurrency ventures.
Trump's Crypto Earnings, Democratic Socialists Rising, USA Advances In World Cup
Trump's family made over $1 billion last year — mostly from crypto ventures including $600M in meme coin sales — raising conflict-of-interest questions the White House flatly denies.
Up First from NPR
Trump's Crypto Earnings, Democratic Socialists Rising, USA Advances In World Cup
Trump's family made over $1 billion last year — mostly from crypto ventures including $600M in meme coin sales — raising conflict-of-interest questions the White House flatly denies.
TL;DR
Trump's 2025 financial disclosures reveal the president and his family earned over $1 billion, with crypto ventures — including $500M from World Liberty Financial and $600M from meme coin sales — dwarfing his real estate empire and sparking conflict-of-interest concerns [1] — Linda Kenyon "Trump's 2025 financial disclosure shows the president and his family earned over $1 billion — led by $600M in meme coin sales and $500M fro…" 02:00 . Democratic socialists notched another primary win in Colorado, where 29-year-old Melat Kiros unseated 28-year veteran Diana DeGette, raising questions about whether the DSA wave energizes or endangers Democrats ahead of midterms [2] — Elena Moore "Melat Kiros, a 29-year-old first-time candidate, defeated Diana DeGette — a Denver congresswoman who has held her seat since 1997, the year…" 06:56 . The US men's team beat Bosnia-Herzegovina 2-0 for their first World Cup knockout-stage win in 24 years, though top scorer Folarin Balogun is suspended for the Belgium match [3] — Becky Sullivan "Folarin Balogun scored 3 goals in 3 World Cup games — tied for second-most ever by a US man in a single tournament — before a red card susp…" 11:50 .
Trump's 2025 financial disclosures reveal over $1 billion in earnings from crypto ventures. Democratic socialists score another primary win in Colorado. The US men's team advances to the World Cup round of 16 with their first knockout win in 24 years.
-
The episode's first ad break features three consecutive sponsor messages. CookUnity pitches its chef-led meal delivery service, emphasizing fresh, small-batch cooking with dietary flexibility and offering 50% off a first order with code FIRST at cookunity.com/first. Schwab promotes the Schwab Teen Investor Account as a co-owned vehicle for parents to help teens build investing habits, directing listeners to schwab.com. Carvana closes the break with a simple pitch — 100% online car buying, delivered to your door — directing listeners to carvana.com. The segment is a clean, unobtrusive ad block separating the headlines from the first major story.
-
NPR's Linda Kenyon walks through the staggering details of President Trump's 2025 financial disclosure, filed with the Office of Government Ethics across 927 pages. The headline figure: more than $1 billion in earnings, with crypto at the center [1] — Linda Kenyon "Trump's 2025 financial disclosure shows the president and his family earned over $1 billion — led by $600M in meme coin sales and $500M fro…" 02:00 . World Liberty Financial, co-founded by Trump and family, generated over $500 million, while meme coins — launched days before his second inauguration — brought in more than $600 million on their own. Trump-branded merchandise added millions more: watches alone cleared $4.7 million, and media settlements added more than $50 million. All of this is on top of overseas real estate ventures tied to countries currently negotiating with the US on tariffs and military aid. The White House, through spokesperson Anna Kelly and Press Secretary Caroline Levitt, denied any wrongdoing, with Trump himself insisting he has no contact with those managing his investments [2] — Donald Trump "When reporters pressed Trump on his billion-dollar earnings, he insisted he has no contact with those managing his investments. His answer …" 03:55 . But critics were vocal: Senator Adam Schiff claimed Trump made more in year one of his second term than in his entire prior life, and Congressman Jason Crow called the crypto earnings 'grift and corruption.' Linda Kenyon also noted that Trump's first flight on a Qatar-gifted Air Force One — worth more than $400 million — added yet another layer to the conflict conversation.
-
NPR political reporter Elena Moore surveys the fast-moving landscape of the Democratic Socialists of America's primary surge. After wins in New York City, DSA-backed candidates scored again in Denver, where first-time candidate Melat Kiros — 29 years old, born in 1997, the very year her opponent Diana DeGette first won her seat — defeated the longtime progressive incumbent [1] — Elena Moore "Melat Kiros, a 29-year-old first-time candidate, defeated Diana DeGette — a Denver congresswoman who has held her seat since 1997, the year…" 06:56 . The DSA is not a political party but a membership group; its candidates run as Democrats and have coalesced around economic populism, abolishing ICE, and ending US military aid to Israel. They also reject corporate PAC money and pro-Israel lobbying donations — and make a point of attacking opponents who don't. Centrist Democrats are alarmed: Matt Bennett of Third Way warned that it is now 'very hard for Democrats to distinguish themselves' from the extreme label, even if they don't formally embrace DSA [2] — Elena Moore "Democrats not aligned with DSA now face a bind: tap into the same anti-establishment energy without being painted as socialist extremists. …" 08:00 . Meanwhile, DSA congressional winner Claire Valdez pushed back, arguing the movement reflects broad national consensus around recentering working-class Americans. With Trump already labeling the movement 'communists,' the challenge for mainstream Democrats is clear: how to tap populist energy without inheriting an unwinnable brand war.
-
Becky Sullivan calls it one of the wildest rides she's covered — and she was there for it. The US men's national team dispatched Bosnia-Herzegovina 2-0 in the World Cup round of 16, delivering the program's first knockout-stage win in 24 years, but it was anything but comfortable [1] — Becky Sullivan "The US men's national team beat Bosnia-Herzegovina 2-0 in the World Cup round of 16 — their first knockout-stage win in 24 years. The victo…" 09:32 . The US went up 1-0 just before halftime, but then striker Folarin Balogun — already the tournament's breakout star with 3 goals in 3 games, tied for second-most all-time by a US man in a single World Cup — got his legs tangled with a Bosnian defender, stepped on his ankle, and was shown a red card after video review. The US played a man down for more than 25 minutes and looked vulnerable. Then came the moment: a yellow card on a Bosnian defender gave the US a free kick near the penalty area. Malik Tillman, described by Sullivan as one of the most soft-spoken athletes she's ever met, stepped up and buried a perfect shot over the defensive wall to make it 2-0. The game was sealed, but the celebration was bittersweet [2] — Becky Sullivan "Folarin Balogun scored 3 goals in 3 World Cup games — tied for second-most ever by a US man in a single tournament — before a red card susp…" 11:50 . Balogun, who has never previously received a red card for the national team, is now suspended for the match against Belgium — a team that thrashed the US 5-2 in a March friendly, though they've looked beatable in this World Cup. A win would send the US to the quarterfinals, matching the deepest modern-era run in program history.
- World Liberty Financial
- A cryptocurrency venture co-founded by President Trump and his family members that generated more than $500 million in 2025.
- Meme coin
- A cryptocurrency typically based on an internet meme or celebrity brand; Trump's official meme coin features his face and raised over $600 million.
- Office of Government Ethics
- The US federal agency that collects and publishes financial disclosure reports from executive branch officials, including the president.
- DSA (Democratic Socialists of America)
- A membership organization — not a registered political party — that endorses left-wing candidates running in Democratic primaries on platforms of economic populism and progressive social policy.
- Corporate PAC
- A Political Action Committee funded by a corporation that can raise and spend money to influence elections; DSA-backed candidates often reject these donations as a campaign pledge.
- Red card
- In soccer, a referee's decision to eject a player from the match for a serious foul or misconduct; the player is also automatically suspended for the team's next game.
- Round of 16
- The first knockout stage of the FIFA World Cup, where 16 remaining teams compete in single-elimination matches — a loss ends a team's tournament.
- Knockout stage
- The phase of the World Cup after the group stage where teams are eliminated with a single loss, as opposed to accumulating points.
- Free kick
- An unimpeded kick awarded to a team after an opponent's foul; from near the penalty area, a well-placed free kick can score directly.
- Dual national
- A person who holds citizenship in two countries simultaneously; many US soccer players, like Malik Tillman, qualify for the American team through a parent's military service or heritage.
- Populism
- A political approach that frames politics as a struggle between ordinary people and a corrupt elite; in the episode, DSA candidates use economic populism to mobilize working-class voters.
- Anti-establishment
- Opposing the existing power structures, institutions, or political norms; used in the episode to describe DSA candidates' positioning against longtime incumbents.
- Grift
- Informal term for obtaining money through dishonest or questionable means; Congressman Jason Crow used it to characterize Trump's crypto earnings.
- Maximalism
- The pursuit of extreme or uncompromising positions rather than pragmatic middle ground; Matt Bennett used it to describe the hard-left policy stances of DSA candidates.
Chapter 2 · 01:54
Trump's Crypto Earnings
NPR's Linda Kenyon walks through the staggering details of President Trump's 2025 financial disclosure, filed with the Office of Government Ethics across 927 pages. The headline figure: more than $1 billion in earnings, with crypto at the center [1] — Linda Kenyon "Trump's 2025 financial disclosure shows the president and his family earned over $1 billion — led by $600M in meme coin sales and $500M fro…" 02:00 . World Liberty Financial, co-founded by Trump and family, generated over $500 million, while meme coins — launched days before his second inauguration — brought in more than $600 million on their own. Trump-branded merchandise added millions more: watches alone cleared $4.7 million, and media settlements added more than $50 million. All of this is on top of overseas real estate ventures tied to countries currently negotiating with the US on tariffs and military aid. The White House, through spokesperson Anna Kelly and Press Secretary Caroline Levitt, denied any wrongdoing, with Trump himself insisting he has no contact with those managing his investments [2] — Donald Trump "When reporters pressed Trump on his billion-dollar earnings, he insisted he has no contact with those managing his investments. His answer …" 03:55 . But critics were vocal: Senator Adam Schiff claimed Trump made more in year one of his second term than in his entire prior life, and Congressman Jason Crow called the crypto earnings 'grift and corruption.' Linda Kenyon also noted that Trump's first flight on a Qatar-gifted Air Force One — worth more than $400 million — added yet another layer to the conflict conversation.
Claims made here
World Liberty Financial, co-founded by Trump and his family, generated more than $500 million in 2025.
Trump's meme coins, launched days before his second inauguration, generated more than $600 million in sales.
Trump earned more than $50 million from settlements with media companies in 2025.
Trump-branded watches with a Trump imprint generated more than $4.7 million in earnings.
California Senator Adam Schiff claimed Trump made more money in the first year of his second term than in the rest of his life combined.
Qatar gifted Trump a new Air Force One valued at more than $400 million, which will remain in the Trump realm after he leaves office.
Trump's 2025 financial disclosure shows the president and his family earned over $1 billion — led by $600M in meme coin sales and $500M from World Liberty Financial. The crypto haul dwarfs his real estate empire and has sparked conflict-of-interest alarms that the White House flatly denies.
President Trump and his family took in more than $1 billion in 2025, primarily through cryptocurrency ventures.
Trump's 2025 financial disclosure document runs 927 pages and was filed with the Office of Government Ethics.
World Liberty Financial, co-founded by Trump and his family, took in more than $500 million.
Trump's souvenir-style meme coins sold for more than $600 million, launched days before his second inauguration.
Trump-branded watches with a Trump imprint brought in more than $4.7 million alone.
When reporters pressed Trump on his billion-dollar earnings, he insisted he has no contact with those managing his investments. His answer — that he has 'closed accounts or something' — left more questions than it answered about where presidential and financial interests diverge.
Qatar gifted Trump a brand-new Air Force One worth more than $400 million. Unlike typical government assets, this plane is set to remain in the Trump realm after he leaves office — framed by the White House as a future presidential library donation.
Qatar gifted Trump a new Air Force One valued at more than $400 million, which will remain in the Trump realm after he leaves office.
Chapter 3 · 05:43
Democratic Socialists Rising
NPR political reporter Elena Moore surveys the fast-moving landscape of the Democratic Socialists of America's primary surge. After wins in New York City, DSA-backed candidates scored again in Denver, where first-time candidate Melat Kiros — 29 years old, born in 1997, the very year her opponent Diana DeGette first won her seat — defeated the longtime progressive incumbent [1] — Elena Moore "Melat Kiros, a 29-year-old first-time candidate, defeated Diana DeGette — a Denver congresswoman who has held her seat since 1997, the year…" 06:56 . The DSA is not a political party but a membership group; its candidates run as Democrats and have coalesced around economic populism, abolishing ICE, and ending US military aid to Israel. They also reject corporate PAC money and pro-Israel lobbying donations — and make a point of attacking opponents who don't. Centrist Democrats are alarmed: Matt Bennett of Third Way warned that it is now 'very hard for Democrats to distinguish themselves' from the extreme label, even if they don't formally embrace DSA [2] — Elena Moore "Democrats not aligned with DSA now face a bind: tap into the same anti-establishment energy without being painted as socialist extremists. …" 08:00 . Meanwhile, DSA congressional winner Claire Valdez pushed back, arguing the movement reflects broad national consensus around recentering working-class Americans. With Trump already labeling the movement 'communists,' the challenge for mainstream Democrats is clear: how to tap populist energy without inheriting an unwinnable brand war.
Claims made here
DSA-backed candidates are winning primaries by rejecting corporate PACs and pro-Israel lobbying money and calling for abolishing ICE and ending US military aid to Israel.
Melat Kiros, 29, is a first-time candidate who defeated Diana DeGette, a congresswoman who has served since 1997 — the year Kiros was born.
DSA-backed candidates have won high-profile primaries in New York and Colorado by combining economic populism with hard-left positions — rejecting corporate PACs, calling for abolishing ICE, and ending US military aid to Israel. It's a formula energizing voters in deep-blue areas, even as centrist Democrats fear it will cost them swing seats.
Melat Kiros, a 29-year-old first-time candidate, defeated Diana DeGette — a Denver congresswoman who has held her seat since 1997, the year Kiros was born. The win is the latest sign that the anti-establishment wave is powerful enough to topple even respected progressives.
Melat Kiros, a 29-year-old first-time candidate, unseated Diana DeGette who has served in Congress since 1997 — the year Kiros was born.
Democrats not aligned with DSA now face a bind: tap into the same anti-establishment energy without being painted as socialist extremists. Matt Bennett of Third Way warns it's 'very hard to distinguish yourself' — and the GOP is already calling every Democrat a communist.
Chapter 4 · 09:26
USA Advances In World Cup
Becky Sullivan calls it one of the wildest rides she's covered — and she was there for it. The US men's national team dispatched Bosnia-Herzegovina 2-0 in the World Cup round of 16, delivering the program's first knockout-stage win in 24 years, but it was anything but comfortable [1] — Becky Sullivan "The US men's national team beat Bosnia-Herzegovina 2-0 in the World Cup round of 16 — their first knockout-stage win in 24 years. The victo…" 09:32 . The US went up 1-0 just before halftime, but then striker Folarin Balogun — already the tournament's breakout star with 3 goals in 3 games, tied for second-most all-time by a US man in a single World Cup — got his legs tangled with a Bosnian defender, stepped on his ankle, and was shown a red card after video review. The US played a man down for more than 25 minutes and looked vulnerable. Then came the moment: a yellow card on a Bosnian defender gave the US a free kick near the penalty area. Malik Tillman, described by Sullivan as one of the most soft-spoken athletes she's ever met, stepped up and buried a perfect shot over the defensive wall to make it 2-0. The game was sealed, but the celebration was bittersweet [2] — Becky Sullivan "Folarin Balogun scored 3 goals in 3 World Cup games — tied for second-most ever by a US man in a single tournament — before a red card susp…" 11:50 . Balogun, who has never previously received a red card for the national team, is now suspended for the match against Belgium — a team that thrashed the US 5-2 in a March friendly, though they've looked beatable in this World Cup. A win would send the US to the quarterfinals, matching the deepest modern-era run in program history.
Claims made here
The US men's national team's 2-0 win over Bosnia-Herzegovina is their first World Cup knockout-stage victory in 24 years.
Folarin Balogun scored 3 goals in 3 World Cup games, tied for the second-most all-time by any American man in a single World Cup.
Belgium beat the US 5-2 in a friendly match in March before the World Cup.
A US win over Belgium would bring the Americans to the World Cup quarterfinals, matching their deepest run ever in the modern World Cup era.
The US men's national team beat Bosnia-Herzegovina 2-0 in the World Cup round of 16 — their first knockout-stage win in 24 years. The victory came under dangerous heat after star striker Folarin Balogun was sent off, forcing the US to play a man down for more than 25 minutes.
The US men's national team's win over Bosnia-Herzegovina is their first World Cup knockout-stage victory in 24 years.
After Balogun's red card, the US played a man down for more than 25 minutes plus stoppage time and still won 2-0.
Malik Tillman is so quiet that reporters often struggle to hear him speak. Then he stepped up to a free kick in a shorthanded World Cup knockout game and buried it over the wall. Born in Germany with an American military father, Tillman is the dual-national wildcard the US needed.
Folarin Balogun scored 3 goals in 3 World Cup games — tied for second-most ever by a US man in a single tournament — before a red card suspension rules him out against Belgium. It's a massive blow to a team that had just found its clinical striker.
Folarin Balogun scored 3 goals in 3 games — tied for second-most ever by any American man in a single World Cup — before his red card suspension.
Belgium beat the US 5-2 in a March friendly, but they've looked beatable in this tournament. A US win — without Balogun — would send them to the quarterfinals for the first time in the modern World Cup era, matching their all-time deepest run.
Belgium beat the US 5-2 in a friendly match in March, though Belgium has looked beatable in this World Cup.
No indexed bits in this chapter.
Show stoppers
Snapshots ()
Key Quotes ()
This episode
Cast
-
President whose 2025 financial disclosures revealed over $1 billion in earnings from crypto ventures, meme coins, and business dealings raising conflict-of-interest questions.
-
US men's national team striker who scored 3 World Cup goals — tied for second-most all-time by an American — before receiving a red card suspension against Bosnia.
-
Longtime Denver congresswoman who has served since 1997 and was unseated in the 2026 Democratic primary by DSA-backed newcomer Melat Kiros.
-
US midfielder who scored the decisive free-kick goal against Bosnia-Herzegovina to seal the round-of-16 win; born in Germany to a US military father.
-
29-year-old first-time DSA-backed candidate who defeated Diana DeGette in the Denver Democratic congressional primary.
-
Longtime star of the US men's national team who expressed disappointment over Balogun's red card and will face added pressure against Belgium without him.
-
California Democratic senator who claimed Trump made more money in the first year of his second term than in the rest of his life combined.
-
White House Press Secretary who dismissed conflict-of-interest allegations related to Trump's crypto earnings and meme coin investor meeting.
-
Membership organization whose endorsed candidates won high-profile Democratic primaries in New York and Colorado, sparking debate about the party's direction ahead of midterms.
-
Cryptocurrency venture co-founded by Trump and his family that generated more than $500 million in 2025.
-
Centrist Democratic think tank whose representative Matt Bennett warned that DSA victories make it harder for mainstream Democrats to distinguish themselves from extremism.
-
The US men's next World Cup opponent after advancing past Bosnia; beat the US 5-2 in a March friendly but has looked beatable in this tournament.
-
The US men's national team defeated Bosnia-Herzegovina 2-0 in the World Cup round of 16 to advance for the first time in 24 years.
-
Foreign government that gifted Trump a new Air Force One valued at more than $400 million, which the White House says will go to Trump's presidential library.
Stats
This episode
Claims & Sources
Factual claims made this episode, and whether a source was named.
Trump and his family earned more than $1 billion in 2025, primarily from cryptocurrency ventures.
World Liberty Financial, co-founded by Trump and his family, generated more than $500 million in 2025.
Trump's meme coins, launched days before his second inauguration, generated more than $600 million in sales.
Trump earned more than $50 million from settlements with media companies in 2025.
Trump-branded watches with a Trump imprint generated more than $4.7 million in earnings.
Qatar gifted Trump a new Air Force One valued at more than $400 million, which will remain in the Trump realm after he leaves office.
California Senator Adam Schiff claimed Trump made more money in the first year of his second term than in the rest of his life combined.
DSA-backed candidates are winning primaries by rejecting corporate PACs and pro-Israel lobbying money and calling for abolishing ICE and ending US military aid to Israel.
Melat Kiros, 29, is a first-time candidate who defeated Diana DeGette, a congresswoman who has served since 1997 — the year Kiros was born.
The US men's national team's 2-0 win over Bosnia-Herzegovina is their first World Cup knockout-stage victory in 24 years.
Folarin Balogun scored 3 goals in 3 World Cup games, tied for the second-most all-time by any American man in a single World Cup.
Belgium beat the US 5-2 in a friendly match in March before the World Cup.
A US win over Belgium would bring the Americans to the World Cup quarterfinals, matching their deepest run ever in the modern World Cup era.