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Trump Says, Nothing Wrong or Illegal With Crypto Profits; Worst Day of Heat Wave Expected Today Across East Coast; Today, Taylor Swift and Travis Kelce's Big Wedding Celebration. Aired 7-7:30a ET

Aired July 03, 2026 - 07:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[07:00:00]

SARA SIDNER, CNN ANCHOR: President Trump on the defense over his huge money haul since retaking office. In a new interview, he says there's nothing wrong or illegal about the billion-plus dollars his family has made on crypto while others who bought it lost money.

JOHN BERMAN, CNN ANCHOR: The historic dangerous holiday heat wave, it is here, and it's already messing up 4th of July plans across the country. The record-breaking temperatures we are already seeing.

And then today is the day, Taylor Swift's huge celebration at Madison Square Garden, all the new details coming in overnight about the rehearsal dinner and what is planned for tonight.

Kate is out today. I'm John Berman in Boston, Sara Sidner in New York, and this is CNN News Central.

SIDNER: Billions of dollars in profit, no big deal. That's what President Trump says after his latest financial disclosure revealed the massive sums of money he's made on ventures, like cryptocurrency, since retaking the White House.

(BEGIN VIDEO CLIP)

DONALD TRUMP, U.S. PRESIDENT: Well, you know, I don't do anything having to do with my business. My kids run it. I put a lot of -- I had a lot of money, and I have a lot of money, and I've always made -- I've made money. You know, I'm a business person. I'm a really good business person.

I mean, there's nothing illegal. There's nothing wrong with it.

(END VIDEO CLIP)

SIDNER: We're learning this because of mandatory financial disclosures. The financial disclosure that he made revealed he earned more than $2 billion in income last year as president. That includes over a billion from new crypto ventures and the Trump Meme coin tied to World Liberty Financial, a company co-founded by his sons, Don Jr. and Eric, not to mention the $491 million in revenue from his properties, including Mar-a-Lago. CNN's Kevin Liptak is live at the White House for us. Kevin, what else did the president say about making so much money while in office, more than any other single president?

KEVIN LIPTAK, CNN SENIOR WHITE HOUSE REPORTER: Yes, and he is really trying to downplay it. But even some of the explanations that he gave in that interview last night seems to differ from how he was explaining it earlier this week when he said that because the stock markets were rising, that's why he made so much money, despite the fact that the bulk of his revenues came from these crypto ventures that benefited him and then plunged in value.

The other thing that you heard him say earlier this week was that he doesn't talk to any of the people who are managing his money. Now, he is admitting that it is in fact his sons who are doing a lot of the financial dealings for him, even though he said he never discusses it with them.

He also bemoaned the fact that his sons have come under scrutiny for dealings of their own that may be benefiting from some of the administration's own policies. Listen to what he said on that front.

(BEGIN VIDEO CLIP)

TRUMP: Well, I feel badly in a way for my kids because every time my kids do, if they invest in a stock or if they go and do a build, anything they do, because the presidency is so powerful, so big, everything, if they buy a cupcake company, well, the energy to make the cupcakes is, you know, sort of like how's my energy policy. So, therefore, you have a kind of like -- almost anything they do, if they want to buy a truck, if they want to buy -- you know, if they buy an energy-efficient truck, they have inside information.

(END VIDEO CLIP)

LIPTAK: Now, to be clear, the president's sons are not selling cupcakes. Among the ventures they've been linked to are a drone company with a Pentagon contract. They've also been linked to a tungsten mine in Kazakhstan that could benefit from a minerals deal that the administration struck with that company last November. It's all a distant cry from how presidents have dealt with things like this in the past. I think we're sort of a quaint distance from Jimmy Carter selling his peanut farm before coming into office.

We're also in a different place from President Trump's first term. Remember back then, the Trump companies said that they wouldn't be making foreign deals. Now, the president says that he doesn't think he got enough credit for whatever restraint was in place back then.

[07:05:01]

It's generating outcry from Democrats. But it's also generating criticism from more unexpected corners. Yesterday, the Wall Street Journal Editorial Board said, quote, the Trump clan is cashing in on the presidency in big and sketchy ways. Sara?

SIDNER: And there you have it. The headline says it all.

Kevin Liptak, thank you so much. I do appreciate your reporting there from the White House for us. Be careful out there. John?

BERMAN: Well, hello, Sara. I'm here in Boston where, guess what, it's hot. It's very hot up and down the East Coast where all these 4th of July celebrations will be. Here in Boston, it broke 100 yesterday. If it breaks 100 here again today, it will be the first time in more than 80 years they've had back-to-back 100 degree days.

And it's causing all sorts of problems for 4th of July celebrations up and down the East Coast. In Washington, D.C., the rodeo at the state fair thing there, that was delayed and the public told to stay away from the rehearsal for the 4th of July concert. In Philadelphia, a planned 4th of July parade was shortened.

And here in Boston, again, this is where Anderson and Pam Brown will be anchoring tomorrow night for the big CNN special, the 4th of July in America. Boston has told people not to come here to the Esplanade, this is where the fireworks will be, until later in the afternoon because they don't want people standing around in all the heat.

Let's get right to CNN Meteorologist Allison Chinchar for a sense of what we can expect here, New York, D.C., Philadelphia. It's going to be hot, Allison.

ALLISON CHINCAHR, CNN METEOROLOGIST: Oh, yes. I mean, it was me out there yesterday. I do not envy you at all for what you have to deal with for today because there are so many areas, including Boston, that are going to be dealing with these extreme temperatures.

Right now, it still feels like it is 88 degrees in Boston. They are not alone. 89 in New York. It still feels like it is 91 in both Atlantic City, Philadelphia, and even down into Washington, D.C. You still have all of these areas with all of these extreme heat alerts stretching from Alabama, Mississippi, all the way up through Maine, just going to show how many people are expected to be impacted by these extreme temperatures.

Now, the highs themselves, take a look at this, Washington, D.C., triple digits both today and tomorrow, still very warm even on Sunday, even though the temperature does drop back to around 94. New York, Raleigh, Atlanta, all of these areas are expected to see that extreme heat last through at least Saturday. Some areas, it's going to continue all the way through Sunday before we finally start to get some relief.

All of these areas have the potential to break records for today. So Philadelphia, D.C, New York, Charlotte, Raleigh, and there's many others on top of it. Dozens of locations have the potentials to break records, not just today, but also tomorrow and possibly even Sunday. There are a few places that could break those records multiple days in a row.

The low temperatures, we've talked about this, but these are also a concern, too, because some areas, 82, 80, look at that, are not expected to drop back below 80 degrees. That's a concern because it doesn't let your body have enough time to cool off before those temperatures rebound right back again when they go up later on into the day.

And it's not just the temperature, it's also the humidity. Combined, that makes the feels-like temperature, what your body feels like when it spends time outside in the heat. 113 is the peak for Washington, D.C., today, 106 in New York, 108 in Raleigh, even 102 in a place like Indianapolis.

Tomorrow, again, still relatively high numbers. Then finally, when we get to Sunday, still 102 in Washington, D.C., but you'll notice areas of the Midwest starting to see those numbers coming back down. You've got a lot of the extreme risk out here, that's the purple shaded area, not just today, but also for Saturday, too, when so many of those festivities are expected to take place across the country.

BERMAN: So, feels-like temperature above 110 degrees in some places for the 4th. That's hot. Allison Chinchar, not in a good way, not in like a Paris Hilton kind of way. That's hot, as in dangerously hot. Allison, thank you very much.

And, you know, and, Sara, we talk about a feels like temperature. The people around me today, as we're going to approach 100 degrees, they're concerned about the smells-like temperature. What I'm going to smell like as I get sweatier and sweatier as the morning goes on.

SIDNER: John, you smell like a rose, my dear. That's not a problem. But what is a problem is I'm kvetching, and I am also airing grievances for the next two days. But I will try to be peppy and happy, because it is the 250th birthday. But you're the one out there in the heat, and I'm over here saying I'm hot in studio. I'm just rude. That's all there is to it.

It's good to see you out there. It looks gorgeous, by the way.

Ahead, a blunt warning from the man who investigated President Trump, why Jack Smith says he's very concerned about what could happen next in the election.

Okay, ahead, let the wedding celebrations begin. We have brand-new details about, do I have to say the names? Okay, I will. Taylor Swift and Travis Kelce's big day. If you haven't heard, it's supposed to happen today.

And a farmer is giving away more than 100,000 pounds of nectarines, but not because he wants to.

[07:10:01]

It's part of a legal battle over fruit. We'll tell you all about it ahead.

(COMMERCIAL BREAK)

SIDNER: It's happening, y'all. It's really happening, hours away from guests arriving for Taylor Swift and Travis Kelce's wedding celebration in New York. Months of speculation, Easter eggs, and fan buzz all leading up to today. Right now, work crews, we can see them, setting up inside Madison Square Garden. Actually, we can see them outside and we can't see anything inside.

The streets are starting to be closed around the arena. Security, as you might imagine, is tight, and excitement is building for what fans are calling America's royal wedding. Hundreds of guests are expected this afternoon, and we hear some of them may be famous.

[07:15:02]

We know they will be.

CNN's Brynn Gingras is live outside MSG. Look, girl, it is hot out there. You are doing the Lord's work because it is burning hot out there, and yet there you are in all your glory. What do you know about today's schedule?

BRYNN GINGRAS, CNN CORRESPONDENT: Sara, I just love how you were chuckling at parts of that introduction to me. But, anyway, yes, it is -- it's not hot yet, but it has been. I've been out here for three days tracking, pretty much getting more hints and clues that they want the most privacy possible, and it is hot.

So, Swifties, be aware. Don't come down here. You're not going to see anything. I can report that to you. Literally, the asphalt is melting on the bottom of my sneakers. That's how hot it is getting out here. But, look, it's still Taylor's big day, so let's talk about it. I can tell you, Sara, they have been, again, giving those hints that they want privacy.

We've been seeing black barricades be put up really blocking any view of those long form tents that we're understanding vehicles will be driving into later today for the big event, and out of the view of any camera lens. They want the most privacy possible. And what we are understanding is, of course, that event begins, the big wedding later today at (INAUDIBLE) guests for (INAUDIBLE) floor of Madison Square Garden.

As I said, I have been here for the last couple of days seeing little bits and Easter eggs of things being brought into Madison Square Garden, tree branches, lobsters, beer, lots of different baked goods. All these things add up to what could be, and likely will be, a huge celebration inside the world's most famous arena.

But, yes, right now, outside, what we can see, I have seen a number of NYPD officers not even let the yellow cabs pull over in front of Madison Square Garden, just honking them away, making sure they don't even come close to Madison Square Garden. And those security measures continue to ramp up as we get closer to this big event.

Last night, Sara, the rehearsal dinner, from our understanding, 100 guests in attendance, we saw a lot of those, you know, tinted windowed SUVs go down 31st Street for that celebration. Madison Square Garden was lit up in purple, which we don't know if it's for Taylor, but we do know that's one of Taylor's favorite colors.

So, it is quite exciting out in this fear out here, although very hot. But the big day, Taylor's big day, Travis' big day happening today, if you weren't aware.

SIDNER: Look, I wish them so well, but girl, if you want to have a private wedding, having it in the middle of New York where everyone walks around right next to Penn Station, that's not private at all. Just saying. I'm just saying.

Brynn Gingras, thank you for being out there and suffering through this heat. Stay with CNN. Our Elizabeth Wagmeister will be outside Madison Square Garden as well, braving the heat, to break down all the details that she is getting from her contacts of the expectations of this wedding, the venue, the ceremony, the dress, the guests, the performances. Yes. Are there going to be performances? Who's going to sing the wedding song? Like what's happening? In a special CNN All Access event love story with Taylor Swift and Travis Kelce will air at 1:00 P.M. Eastern on cnn.com/watch, or on the CNN app.

All right, ahead, a former Olympian has been indicted by a grand jury for allegedly damaging that reflecting pool that's had so much trouble since Trump tried to renovate it.

Plus, extreme dangerous heat and scorching D.C. This is at issue. Despite this, President Trump says his 4th of July speech will be really long. New details about the Independence Day celebrations in the nation's capital.

Those stories and a lot more ahead.

Plus, we've got John live from Boston.

(COMMERCIAL BREAK)

[07:20:00]

BERMAN: All right. I'm John Berman here in Boston as part of CNN's special coverage of the 4th of July. This just in, it's actually the 3rd of July today, but our coverage kicks off tonight, Independence Eve Live with Anderson and Andy at 8:00 P.M. tonight. They will be in New York. And then tomorrow, a special coverage all over the country, beginning at noon.

And, you know, we're in Philadelphia, we're here in Boston, we're in New York. We're just about everywhere, and in Washington, where they've been trying to celebrate all week long, but having some difficulty at the state fair there, kind of low crowds, low energy. President Trump is promising to deliver a really long speech at the 4th of July rally tomorrow at the National Mall.

As I said, they've had real problems there. The air-conditioning stopped working several times in some of the booths, and power outages hit the Ferris wheel.

Let's get to the National Mall right now. That is where we find CNN Reporter Karin Caifa live there with the very latest. What are you seeing?

KARIN CAIFA, CNN REPORTER: Well, good morning, John. Obviously, the gates haven't opened here at the Great American State Fair just yet, but you are absolutely right. It has been a tough go for what is supposed to be a marquee event here in the nation's capital for the 4th of July. It's been a bit of a tough sell because of the alignment that this fair and also some of the other events have had so closely with the Trump White House and the organizing committee, a tough sell for people coming from out of town who may not feel great about politics right now, but also locals still feeling the burn of the cuts to the federal government workforce last year. Also now, you have heat in the mix and some modifications to the plan.

What I can tell you, John, in and around Washington in my travels this week, you are seeing a lot of people who want to celebrate the 4th of July here in the nation's capital.

[07:25:02]

You see them coming in with their suitcases on public transit, red, white, and blue, their Star Spangled Banner T-shirts, all of those kinds of things. Whether they will actually come to the National Mall is going to be the big question.

This was a big gathering point for the big bicentennial back in 1976. The White House Historical Association says about a million people came to the National Mall for the fireworks. Again, you've got a different climate here right now politically and in the country, but you've also got the heat.

And they've also started to dial back some of the festivities happening here. For example, the big open rehearsal that typically takes place for the Capital Fourth concert here on the mall, that was closed to the public last night because of heat precautions. They're also going to limit the amount of time, push back the entry point for tomorrow night's fireworks celebration, which will, of course, be preceded by that speech by President Trump. They're going to close -- open the gates a little bit later than planned to limit the amount of exposure people have to the heat. We'll see what tomorrow, the crowds, the weekend bring.

John, back to you.

BERMAN: All right, Karin Caifa down in Washington, D.C. They're doing the same thing here in Boston, where they're going to delay the opening of the gates here at the Esplanade. This is one of the oldest, and, frankly, the best celebrations of the 4th of July in the country with the 1812 Overture played at the Hatch Shell which is behind the camera where I'm standing right now. They want people to show up a little bit later. Don't wait around all day in 100 degrees. It is not worth it.

All right, coming up for us today, we're getting new information about how that couple made it to the tippy top of the Empire State Building for that stunt where maybe there was a wedding engagement.

Also, why one farmer is giving away 125,000 pounds of white nectarines. Also, what is a white nectarine?

(COMMERCIAL BREAK)

[07:30:00]