'Stunning' disclosure shows what Trump's doing isn't legal: ex-White House lawyer
President Donald Trump's former White House lawyer said Tuesday that Trump's $1 billion crypto haul is part of "the greatest onslaught of corruption in the history of mankind."
Ty Cobb, who served on Trump's White House legal team in 2017 and 2018, made the remarks on CNN's "OutFront" in response to Trump's newly released financial disclosure — a 927-page filing showing Trump earned more than $1 billion from crypto ventures in 2025 alone.
Anchor Erin Burnett asked whether it's all legal.
"I don't believe so," Cobb said.
"How can that be anything other than trading on his image and likeness in violation of the Emoluments Clause?" Cobb said of the commemorative coins, which generated several hundred million dollars.
The Emoluments Clause is a constitutional rule that bars the president from personally profiting from his office.
"He creates policies that can only enrich himself and his family," Cobb said. "I think the average American should be staggered."
"I mean, we are seeing the greatest onslaught of corruption in the history of mankind in the last 18 months," he added. "This is somebody who every day is devoted to the accumulation of wealth and power."
Burnett also cited a New York Post editorial calling the conduct "the shame of the nation" and a New York Times report that found at least 14 companies tied to Trump and to Commerce Secretary Howard Lutnick's son are pursuing federal mining contracts backed by roughly $9 billion in guaranteed government financing.
"It is the shame of the nation, and people should be paying attention," Cobb agreed.
"This disclosure, on top of the disclosure that he issued last month, where he listed recent trades up to $750,000,000, many of which involved government contractors," Cobb said. "So the grift is on. It's stunning."
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