First Thing: Alarm bells over conflict of interest as filing shows Trump raked in $2bn in 2025

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Good morning. Donald Trump has raked in more than $1bn from his crypto businesses since returning to the White House, according to financial disclosures, making him substantially richer and ringing alarm bells over a conflict of interest. According to a 927-page document released on Tuesday by the US Office of Government Ethics, Trump made more than $2.2bn in all last year, benefiting from a vast network of businesses and investments across the world, including in China. Anna Kelly, a White House spokesperson, denied there was any conflict of interest, saying any suggestion of that was “the same, tired, false narrative…

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