Good morning.You're reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day.President Trump's financial disclosures reveal that he and his family earned more than $1 billion through cryptocurrency ventures and other businesses last year, according to a 927-page report filed with the Office of Government Ethics.
The report shows that more than $500 million came from the cryptocurrency venture "World Liberty Financial," which was co-founded by Trump family members.The sale of souvenir "meme" coins featuring Trump's image generated more than $600 million.
Other income included more than $50 million from settlements with media companies and millions in profits from Trump-branded products like Bibles, sneakers and watches.These earnings, which have outpaced his real estate business, have sparked concerns about potential conflicts of interest.
The White House released a statement denying any conflicts of interest, and spokesperson Anna Kelly applauded Trump for making the U.S."the crypto capital of the world."The Vatican this morning formalized the excommunications of the bishops and priests of the conservative group known as the Society of St.
Pius X, declaring that it has entered schism and broken communion with the pope and the Catholic Church.The group, known as SSPX, celebrates the traditional Latin Mass and opposes some modern church reforms.
In the Catholic Church, the appointment of new bishops is the responsibility of the pope.But yesterday, the group defied Pope Leo XIV by consecrating four bishops without his approval.
The Society framed its actions as a defense of Catholic tradition.During the ceremony, the Rev.
Davide Pagliarani, head of the Society of St.Pius X, described the consecrations as an act of service rather than rebellion.
Two of the excommunicated men teach in the U.S., where the group's membership has been growing, according to th...