Hey, it's Michael. Before we start today's show, I have a request. For an upcoming episode,

we want to hear from you about this very uncertain moment in the economy. Specifically,

we want your questions about it. So send us those questions about President Trump's tariffs,

the global trade war, the wobbly stock market,

and what all of it means for you. No question is too big or too small. Record a voice memo

with the question, include your name, age, and where you're from, and email it to the Daily

at NYTimes.com, and make sure in the subject line to put the word

economy. Okay, here's today's show. From the New York Times, I'm Rachel Abrams. This is the Daily. President Trump was once a loud skeptic of cryptocurrency,

who called it a haven for drug dealers and scammers.

But over the past few months, he's emerged as the industry's biggest cheerleader.

A new Times investigation shows just how much the president and his family have profited from that transformation.

Today, my colleague Eric Lipton on what happens when the country's top crypto policymaker is himself a crypto entrepreneur.

It's Thursday, May 1st.

So, Eric, you have been extremely busy covering the business interests of the Trump family since the first Trump presidency. And back then, the focus really seemed like it was on Trump's real estate deals, like running a hotel in Washington, D.C., where people might try to stay to Curry favor or trading on the Trump name in various ways while Trump was in office. But more recently,

you have been looking at conflicts in the second term. And so I want to start by talking about what you have found, but also how what you have found compares to the conflicts of the first term.

The first term, it's almost quaint in comparison. The scale of the conflicts

and the amount of money in play is so much greater, and the complexity of the conflicts are greater.

It's no longer an appearance of a conflict of interest. It is clearly a conflict of interest.

It is no longer theoretical, basically. Yeah, I mean, the Trump family in the

second term is effectively unleashed. They're no longer hesitant about pursuing profits without restraint.

You know, and by far the biggest and most problematic conflict that my colleagues, David

Yaffe, Bellany, Ben Protests and I have found, as we've looked at this,

...