The financial disclosure Donald Trump filed with the US Office of Government Ethics this week finally settles (though it is hardly a surprise) what his whole ‘crypto president’ routine was designed to achieve: in his first year back in office, Trump reported more than $1.4 billion in income from his family’s crypto ventures, more than his hotels, resorts and licensing deals produced in the same period. A man who spent fifty years building an identity out of towers and golf courses now makes his real money from crypto, and he makes it because he holds the office that helps decide how crypto is regulated.

The largest single line in the disclosure, some $635…