Peter Schiff Comes Back With ‘Everybody Named Trump Is Profiting’

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President Donald Trump responded on Wednesday to the disclosure of his billion-dollar cryptocurrency income, stating that the investments are handled by institutions with which he has no direct communication.

Trump Feigns Ignorance

Talking to reporters, Trump said that there are “funds” that run his money, and he never gets personally involved.

“They invest my money, and I don’t talk to them. I don’t even speak to them,” he added. “I don’t know if they know what they’re doing or not, but they buy a vast array of things.”

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Responding to accusations that he was profiting from his presidency, Trump said, “I am profiting because the stock market is going up. Everybody is profiting.”

He said that he has “a lot” of money, which he gives to institutions that then determine how it is allocated.

The Crypto President

Trump’s cryptocurrency ventures netted him over $1 billion in 2025, the very first year of his presidency, according to financial disclosures released on Tuesday.

The windfall included over $520 million from the sale of tokens issued by World Liberty Financial and more than $635 million in royalties collected from the Official Trump memecoin.

Notably, Trump profited hundreds of millions from the TRUMP memecoin, despite the token declining 98% from its record highs.

Economist Peter Schiff took a swipe at Trump’s response that everybody’s profiting, saying. “Maybe he meant everybody named Trump is profiting.”

When asked about the $2.2B he personally raked in last year while President, Trump replied, “Everybody is profiting.” Trump made $1.4B in crypto alone, but most of the people who bought tokens or meme coins he sold lost money. Maybe he meant everybody named Trump is profiting.

— Peter Schiff (@PeterSchiff) July 1, 2026

Will Crypto Bill Derail?

Skybridge Capital founder Anthony Scaramucci said that Trump’s cryptocurrency windfall in a bear market would be cited as the main factor if the Clarity Act fails to pass the Senate.

Will be cited as one of the main reasons if Clarity doesn’t pass. Hopefully my crypto bros and sisters have gotten the message. https://t.co/NrGXh9GSva

— Anthony Scaramucci (@Scaramucci) July 1, 2026

His concerns may not be unfounded. Sen. Elizabeth Warren (D-Mass.), one of the bill’s sharpest critics, pushed for stronger measures to prevent Trump and his family from profiting off cryptocurrency.

Photo: Rawpixel.com / Shutterstock.com

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