US President Donald Trump has mounted a vigorous defence of his administration's approach to artificial intelligence and cryptocurrency, telling CNBC journalist Joe Kernen that America is currently ahead of the entire world, including China. In the same conversation, he brushed aside conflict-of-interest allegations swirling around his family's crypto business, insisting he has done nothing wrong.
America is number one in both AI and crypto, says Trump
Trump said he views cryptocurrency a little differently from most. In his view, America has to stay at the front of the pack in this space, because if it does not, China will step in and take over. He said failing to lead here is a matter that goes straight to national security. Trump said he wants America to be number one in whatever field it enters, and claimed the country is currently number one in crypto as well as in AI, adding that in AI specifically, the US is far ahead of China and every other nation.
Xi Jinping praised his work, Trump claims
Trump also claimed that during his meeting with Chinese President Xi Jinping in mid-May, Xi himself praised the turnaround in America's economic standing. Recalling the meeting, Trump said:
About three weeks ago when I met President Xi, the first thing he did was welcome me and say I've done a great job. America had stalled before, but now it has become the fastest growing country in the world.
A 900-page disclosure reveals massive crypto earnings
Trump's remarks came just as the US Office of Government Ethics released roughly 900 pages of his financial disclosure on June 30. Issued under the 1978 transparency law, the document shows that in 2025 Trump earned about $1.2 billion from crypto-related business. It also states that the first token sale of World Liberty Financial, or WLF, a venture launched with the backing of the Trump family in September 2024, brought Trump roughly $550 million in income.
Trump's sons also profited, buying 22.5 billion tokens
According to the disclosure, Trump and his three sons also purchased 22.5 billion WLFI tokens through an intermediary company called DT Marks DEFI, currently valued at an estimated $1.3 billion. When asked in the interview whether he had full knowledge of his family's crypto business before it became public, Trump replied:
No. I might have known about it, but there's nothing illegal or wrong with it. I could have known.
Trump defends his family, says they have their own lives
Defending his family, Trump said it isn't easy for a president's children to balance private business with public responsibilities. He said:
I tell my kids to stay away from these things as much as possible. But they have their own lives. We were in business long before politics. You knew me long before I ran for president.
The whole world envies America today, Trump says
Pointing to his years of business experience, Trump said that same experience is now strengthening the American economy. He said:
I've made a lot of money over the years. I think people chose me because they had a businessman. If you look at today, we're leaving everyone behind. We're leaving China behind and ahead of every other country. Today the whole world envies America.
In a single interview, Trump thus defended his administration's AI and crypto strategy, rejected conflict-of-interest allegations tied to his family, and repeated his claim that his business background is now paying off for America.
