Steve Witkoff, the United States special envoy for peace missions and a veteran real estate investor, has disclosed $107 million of 2025 income from a holding company that owned his interest in World Liberty Financial (WLFI), the Trump family-affiliated cryptocurrency venture behind the USD1 stablecoin and the WLFI governance token. The same entity produced $34 million of income in 2024, a jump of more than three times year over year while Witkoff served as a senior envoy in the Trump administration.
The figure was surfaced from a public financial disclosure and first reported by Bloomberg on September 8, 2026, at 4:13 p.m. Eastern time. The filing itself is a Form 278e submitted to the United States Office of Government Ethics (OGE), the federal body that reviews conflict of interest disclosures for executive branch officials. Earlier Witkoff filings are indexed in the ProPublica disclosure tracker.
What the Form Does and Does Not Show
The disclosure lists income from the holding company as a single line. It does not break out how much of the $107 million came from World Liberty Financial LLC and how much came from resorts, golf and hotel operations, and residential real estate that sit in the same corporate structure. Bloomberg was explicit that the underlying assets are bundled and not individually valued in the document. Any reading that treats the entire $107 million as cryptocurrency profit therefore goes beyond what the form supports.
The distinction is material for readers tracking token sales, stablecoin float, and political ethics. What can be stated from the filing is narrower. A single holding company that previously held the Witkoff family stake in World Liberty booked $107 million in 2025, up from $34 million in 2024, during a year in which its owner held a senior diplomatic post.
Background on World Liberty Financial
World Liberty Financial, often shortened to WLF, was launched in 2024 by members of the Trump family together with the Witkoff family. President Donald Trump was introduced as a cofounder before taking office.
Steve Witkoff was also named a cofounder. After both men entered public office, they were described as having stepped back from day-to-day operations. Zach Witkoff, Steve Witkoff’s son, is the chief executive. Donald Trump Jr., Eric Trump, and Barron Trump have been publicly associated with the project.
The company issues USD1, a United States dollar-pegged stablecoin, and sold the WLFI governance token, which entitles holders to a vote on protocol decisions. It has also built lending and borrowing products under the World Liberty Markets brand. A broader profile of the venture is covered in The Crypto Times feature on the Trump crypto machine.
The Wealth Picture Around the Filing
The new ethics form reports total assets of at least $408.7 million, a figure that reflects reported minimums on a government disclosure rather than a full net worth appraisal. A private wealth snapshot published by Forbes on April 4, 2026 put Steve Witkoff’s fortune at about $2.3 billion, up 15% over a year, and attributed much of the rise to World Liberty.
Forbes estimated that the Witkoffs received about $130 million from sales of WLFI tokens and about $48 million after tax from selling roughly half of their World Liberty stake to Aryam Investment, a firm backed by Emirati royal Sheikh Tahnoon bin Zayed Al Nahyan.
The report separately valued a remaining stablecoin-comparable stake at about $60 million and discounted around 375 million locked WLFI tokens at about $42 million. Those numbers are journalist valuations and do not appear as line items on the September ethics form.
The Abu Dhabi Transaction
The single largest transaction in the background of the current filing was reported earlier by The Wall Street Journal. Four days before President Trump’s second inauguration in January 2025, representatives of Sheikh Tahnoon signed an agreement to buy a 49% stake in World Liberty Financial for $500 million.
Eric Trump signed for the company. Of the first installment, $187 million was directed to Trump family entities, and at least $31 million was routed to entities affiliated with the Witkoff family.
World Liberty’s spokesman has said that neither President Trump nor Steve Witkoff had involvement in that transaction after taking office. Political reaction to that deal was covered in The Crypto Times report on Democratic pushback to the UAE agreement.
The Trump Family Comparison
Context for the size of the Witkoff figure comes from the president’s own ethics disclosure. President Trump’s 2025 OGE filing was released on June 30, 2026, and reported by Reuters as showing more than $1.4 billion of cryptocurrency-related income, including almost $800 million tied to World Liberty through token sales and sales of interests in the business, plus $635 million tied to the $TRUMP memecoin, a separate token themed on the president.
The Financial Times tallied more than $526 million from World Liberty token sales and $196 million from a capital contribution involving Stablecoin Holdco LLC, an entity linked to the USD1 float. The variation among those totals reflects different groupings of token sales, equity sales, and stablecoin holdco proceeds rather than contradictory reporting.
USD1 Circulation and the Proposed National Trust Bank
Product traction helps explain why the filing draws attention in cryptocurrency markets. USD1 circulation was reported above $4 billion in late August 2026. An earlier milestone was Abu Dhabi-linked MGX using USD1 to complete a $2 billion investment in Binance, the world’s largest cryptocurrency exchange by volume.
On August 14, 2026, the Office of the Comptroller of the Currency (OCC), the federal regulator of national banks, granted preliminary conditional approval for World Liberty Trust Company, National Association, a Florida-based national trust bank that would take over USD1 issuance and custody from BitGo Bank and Trust, the current stablecoin issuer partner.
Final authority to open remains subject to capital and preopening conditions, including $20 million of Tier 1 capital, the highest quality regulatory capital measure. That regulatory step is detailed in The Crypto Times report on OCC clearance for World Liberty Trust Bank.
Ownership of the parent, WLTC Holdings, was later reported by The Wall Street Journal to include a Tahnoon-backed entity at 49% and a Trump-affiliated entity at 38%. Zach Witkoff is slated to lead the proposed bank. The Crypto Times summarizes that structure in its coverage of the Abu Dhabi holding disclosure, and reviews Witkoff’s public defense of the $4 billion USD1 rollout in its report on his rebuttal to Justin Sun.
Divestiture Questions Remain Open
Lawmakers and ethics advocates have argued that these commercial ties sit close to Steve Witkoff’s diplomatic brief, which includes Middle East files and Ukraine talks. Senate Democrats wrote in 2025 that his disclosures did not make clear how much he still owned in World Liberty and related entities such as WC Digital Fi LLC.
World Liberty said in May 2025 that Witkoff was in the process of fully divesting, and a prior disclosure reflected a $120 million sale of an interest in The Witkoff Group as part of divestiture planning. The White House has said Witkoff sold his stake in World Liberty Financial and does not participate in government matters that could affect his financial interests.
The September 8 document still reports 2025 income from the holding company that owned that stake, and it does not publish a completed, itemized sale of every World Liberty-related interest. Bloomberg noted that the filing has not yet received final approval from the OGE.
The Bottom Line for Readers
The disclosure confirms one specific fact. A senior United States envoy reported $107 million of 2025 income from a company that packaged a World Liberty Financial interest together with conventional real estate holdings. Income from that company rose from $34 million a year earlier. The United States ethics framework in this instance allowed the underlying pieces to remain aggregated at the holding company level. Until the OGE publishes a fully reviewed breakout, or until Witkoff or the White House itemizes the cryptocurrency share in dollars, any claim that pins the full $107 million on USD1 or WLFI moves beyond what the current record shows.
Disclaimer: This report summarizes public financial disclosures and published reporting. It is not investment advice and does not claim that World Liberty Financial generated the full $107 million.
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