President Trump made more than a billion dollars in cryptocurrency last year.

We'll dive into his latest financial disclosures.

Plus, Anthropic and the Trump administration agreed to restore access to Fable,

following a shutdown of the model that roiled the AI industry.

And Colorado's Democratic primaries see yet more centrists fall amid a far-left

groundswell.

The establishment, pundits, and so many others said this wouldn't be a race at all.

It would be a coronation.

They counted us out, and they underestimated all of you. It's Wednesday, July 1st.

I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of What's News,

the top headlines and business stories moving your world today.

President Trump's forays into cryptocurrency have delivered him a windfall of more than a

billion dollars last year, according to his latest financial disclosures.

It's an unprecedented surge and income that came alongside earnings from royalty deals,

real estate, and legal settlements. And for more,

I'm joined by journal finance editor Alex Fragos. Alex, it seems that the bulk of this income has

come from cryptocurrency, no? Yeah, it's really quite astonishing. Trump and his family

started these businesses in the months before he was elected while promising to make America,

the capital of crypto, and the ventures really brought in a huge amount of real cash over a billion

dollars. And what's notable is while the Trump family did really well, the investors in those

coins, some of them didn't. The value of those coins

dropped quite a bit after that. In addition to crypto, we should note there's been a wealth

...