President Trump earned around $57 million from his stake in a family-backed cryptocurrency firm last year, according to a new financial disclosure form, showing the early returns on a burgeoning digital-asset empire.

Donald Trump has disclosed almost $60mn in income from one of his cryptocurrency ventures, highlighting how the US president has benefited from his embrace of the digital asset industry.

"My administration is working with governors to pass the GENIUS Act supporting the creation of dollar-backed stablecoins, and we also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and bitcoin," he told a filled room to scattered applause.