Former White House attorney Ty Cobb has labeled President Donald Trump's reported $1.2 billion in earnings from cryptocurrency ventures since returning to the White House in 2025 as "the greatest onslaught of corruption in the history of mankind."
Cobb made these remarks on CNN following the release of a financial disclosure document. The document revealed that Trump earned $594,263,944 from his family’s World Liberty Financial firm and an additional $635,068,835 from CIC Digital LLC, a company that marketed his $TRUMP meme coin.
When asked if he believed these earnings were legal, Cobb responded, "I don’t believe so." He expressed doubt that such activities were contemplated by the Founding Fathers when they drafted the emoluments clause, a provision in the U.S. Constitution designed to prevent federal officials from being corrupted or enriched by foreign governments or entities.
Cobb suggested that the income related to commemorative coins, totaling several hundred million dollars, could be interpreted as trading on Trump's image and likeness. He characterized the cryptocurrency industry as "slimy" and argued that Trump's actions, which involve creating policies that could enrich himself and his family, should be staggering to the average American. Cobb emphasized that the scale of these earnings is "intentional."
Trump himself has previously stated he has "raised" over $1.5 billion in various forms since the 2024 election. The disclosure of his crypto earnings follows other financial dealings, including his acceptance of a $400 million luxury jet from Qatar, shortly before the U.S. granted a defense guarantee to the oil-rich nation.
Furthermore, Donald Trump Jr. and Eric Trump have reportedly benefited from the presidency, securing a financial stake in a mining company that received up to $1.6 billion in financing from the Department of Commerce.
Cobb also referenced a separate instance, stating, "I mean, we are seeing the greatest onslaught of corruption in the history of mankind in the last 18 months." He pointed to a $1.8 billion fund that Trump and acting Attorney General Todd Blanche proposed. Trump had initially sued the IRS for $10 billion in January but later dropped the suit in May in exchange for the establishment of this fund. Cobb alleged that Trump planned to use this fund to "pay off his friends," potentially benefiting individuals who claim to have been unfairly targeted by the Department of Justice or those who participated in the January 6, 2021, Capitol riots.
Comparing Trump's financial activities to those of Hunter Biden, Cobb argued that even if Biden were as corrupt as alleged, his earnings would not compare to Trump's. "Trump is playing with billions; they were playing with millions," Cobb stated, calling the situation "stunning."