White House Insists Trump Has 'Lost Money' Since Being President Despite 'Corruption' Accusations: 'He Left a Life of Luxury'

White House Press Secretary Karoline Leavitt insisted President Donald Trump has "lost money" since beginning his second term despite a report revealing he and his family have allegedly generated $2.9 billion in cryptocurrency earnings.

Leavitt defended the White House's ethics on Friday after a reporter asked whether he plans to visit any of his businesses during his upcoming trip to the Middle East. Just over the past two weeks, Donald Trump Jr. and Eric Trump have inked new ventures involving billions of dollars, including a $1 billion, 80-story Trump International Hotel and Tower in Dubai, which will sells units that cost up to $20 million, The New York Times reported.

"Not to my knowledge, and let me just get to the premise of your question that both of you have raised," Leavitt responded in a clip circulating on X. "I think it's frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit."

"He left a life of luxury and a life of running a very successful real estate empire for public service, not just once but twice," Leavitt continued, adding that he was voted back into the White House because Americans "trust he acts in the best interest of our country and putting the American public first."

"This is a president who has actually lost money for being president of the United States," Leavitt claimed. "I don't remember these same types of questions being asked of my predecessor about a career politician who was clearly profiting off of this office. That is not what President Trump does and this White House holds ourselves to the highest of ethical standards," she added.

Although Leavitt claimed that the president has lost money, a report from State Democracy Defenders Action, a nonpartisan lobbying and advocacy organization, found that the Trump family has profited $2.9 billion from cryptocurrency during the past six months alone.

Trump's cryptocurrency empire is expected to expand further after his cryptocurrency company, World Liberty Financial, announced an Abu Dhabi-backed firm will invest $2 billion in the company in 2025. President Trump and his sons hold a 60% ownership stake in World Liberty Financial and will receive 75% of net revenue from future token sales, according to CBS News.

Meanwhile, from within the White House, Trump has continued to champion cryptocurrency. In March, he signed an executive order establishing a "Crypto Strategic Reserve" as part of his effort to position the U.S. as the "crypto capital of the world."