US President Donald Trump took in nearly US$1.2 billion from his crypto businesses last year, a federal filing released on Tuesday shows, locking in profits while his investors were socked with losses.

Mere start-ups when he took the oath of office, the new ventures have now eclipsed in revenue much of his vast property portfolio that took him decades to accumulate. Fuelling their rise were billionaire investors and Trump’s own move to quash a federal crackdown on the industry.

Trump got more than US$500 million from his World Liberty Financial business selling new crypto products, including “governance tokens”, according to the required annual disclosure report with the Office of Government Ethics. It also showed another crypto business, CIC Digital LLC, took in more than US$600 million from sales of souvenir-type “meme” coins stamped with his face.