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