White House denies crypto conflicts as Vatican cuts off SSPX
A financial filing showed major Trump family crypto income, while the Vatican declared the Society of St. Pius X in schism.
By Sofia Marchetti · World Affairs Correspondent
3 min read
President Trump and his family made more than $1 billion last year from cryptocurrency ventures and other businesses, according to a financial disclosure filed with the Office of Government Ethics. The figures have drawn new conflict-of-interest criticism from Democrats as the White House says no conflicts exist.
In a separate move, the Vatican formalized excommunications for bishops and priests of the Society of St. Pius X, a traditionalist Catholic group that defied Pope Leo XIV by consecrating bishops without papal approval, according to NPR.
Crypto income draws scrutiny
The Trump family’s earnings were detailed in a 927-page report filed with the Office of Government Ethics, NPR reported. The filing said more than $500 million came from World Liberty Financial, a cryptocurrency venture co-founded by members of the Trump family.
The report also showed more than $600 million in revenue from sales of souvenir meme coins bearing Trump’s image, according to NPR. Other income included more than $50 million from settlements with media companies and millions more from Trump-branded products including Bibles, sneakers and watches.
NPR reported that the crypto and related business income has exceeded Trump’s real estate earnings, intensifying questions about whether his private finances overlap with his public duties. The White House rejected conflict-of-interest concerns in a statement, and spokesperson Anna Kelly praised Trump for making the United States “the crypto capital of the world.”
NPR’s Linda Kenyon reported on Up First that Democrats have criticized the president’s earnings. Sen. Adam Schiff of California suggested Trump may have made more money in the first year of his current term than in the rest of his life combined, while Rep. Jason Crow of Colorado described the cryptocurrency income as another example of “grift and corruption.”
Crow also pointed to Trump’s first flight on a new Air Force One, which NPR said was a gift from a foreign government valued at roughly $400 million.
Vatican declares schism
The Vatican said the Society of St. Pius X has entered schism and broken communion with the pope and the Catholic Church, NPR reported. The group, commonly known as SSPX, is known for celebrating the traditional Latin Mass and opposing some modern reforms in the church.
In Catholic practice, the pope has authority over the appointment of bishops. NPR reported that the society consecrated four bishops without Pope Leo XIV’s approval, prompting the Vatican’s formal declaration.
The Society of St. Pius X presented the consecrations as a defense of Catholic tradition. During the ceremony, the Rev. Davide Pagliarani, the group’s leader, described the move as an act of service rather than rebellion, according to NPR.
Two of the excommunicated men teach in the United States, where the society says its membership has been growing, NPR reported.
This story draws on original reporting from NPR.