Citi Cuts Bitcoin, Ether Forecasts; Trump Reports $1.4B Crypto Profits

Trump Scores Big Crypto Profits

U.S. President Donald Trump reported over $1.4 billion in income from his family's crypto ventures last year, according to a review of his latest financial disclosures. The filings show Trump now derives most of his income from digital assets that have benefited from his policies.

His companies received nearly $800 million from World Liberty Financial, a crypto venture he co-founded with his sons, and another $635 million from the sale of his Trump meme coins.

Citigroup Trims Bitcoin and Ether Forecasts

Citigroup slashed its 12-month forecasts for bitcoin and ether, lowering its bitcoin target to $82,000 from $112,000, and ether to just over $2,200 from above $3,000. The bank cited weaker investor interest, negative ETF flows, and lack of progress on U.S. digital asset registration.

British Investors Sue Binance

Nearly 1,700 British investors are suing Binance and founder Changpeng Zhao for at least $200 million, alleging the platform sold them risky, complex derivative products without regulatory authorization. Binance vowed to defend itself but did not comment further on ongoing litigation.

Crypto Firms Bankroll U.S. Midterms

Cryptocurrency companies have spent $189 million so far to influence this year's U.S. midterm elections, according to a report from Public Citizen, outpacing their spending for previous elections.