Investigative journalist Tom Bergin writes about how Reuters calculated the profits the Trump Organization has made from crypto.
Bergin writes: “The process included reviewing the president’s official disclosures, ownership records, financial data released in lawsuits, crypto trading information and other publicly available sources. Where the family’s share of income from certain ventures could not be determined, Reuters produced estimates that were vetted by four finance professors, two certified public accountants and an accounting professor, all of whom have taught courses or clients have advised on crypto. They all agreed that Reuters’ approach was good.”
Bergin later notes: “In January, the Trump Organization helped launch a second venture that sold another digital asset: $TRUMP, the Trump meme coin. The venture’s website says the Trump Organization will receive revenue from the project, but does not specify a percentage. To reduce the risk of overstating the president’s views, Reuters assumed for its analysis that the Trumps received only a portion of the revenue from the meme coin.
Five academics who reviewed Reuters’ findings agreed that 50% is a reasonable estimate of the Trumps’ share. Two others differed. One said Trump could get a higher discount on the meme coins than the 75% he receives from World Liberty, because the coin was sold entirely on showing support for Trump. But another said Trump might have a smaller discount accepted because his family is less involved with the meme coin than with World Liberty, where his three sons are. listed as co-founders.”
Read more here.
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