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Democrats Allege Trump Family Earned Multi-Billions from Crypto and Stocks Using Presidential Power

Highlights:

  • Report alleges Trump family profited millions from cryptocurrency sales this year.
  • Investigators say foreign investors gained influence through Trump-linked crypto projects and donations.
  • The report said that the pro-crypto agenda helped the Trump family earn billions from cryptocurrency ventures.

The House Judiciary Committee Democrats released a report alleging that Donald Trump and his family leveraged the presidency to generate substantial revenue from cryptocurrency ventures. The report, led by Representative Jamie Raskin (D-MD), highlights Trump’s business activities since the launch of his last year’s election campaign. “Donald Trump has turned the Oval Office into the world’s most corrupt crypto startup operation, minting staggering personal fortunes for him and his family in less than a year,” Raskin said.

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According to the report, the Trump family earned approximately $800 million from cryptocurrency sales in the first half of this year. Their combined cryptocurrency and stock holdings are now valued at around $11.6 billion, with much of the wealth reportedly linked to foreign nationals and organized crime.

Trump-Linked Crypto Ventures Draw Foreign Influence

The investigation highlights several projects associated with the Trump family, including World Liberty Financial (WLFI) and other ventures like a meme-coin. Among the investors cited is Justin Sun, the Chinese-born founder of the Tron blockchain and cryptocurrency exchange, who is also an advisor to the crypto exchange HTX.

The report says the Trump family’s crypto projects may have given others access to the White House. It suggests that foreign investors and companies used these projects and donations to gain influence.

The report highlights that these backers benefited from policies. They got regulatory changes, policy favors, and some federal investigations were quietly stopped. These actions followed pardons by President Trump, including Arthur Hayes in March and Changpeng Zhao in October. The report also says the Trump administration reduced crypto oversight. Cases or investigations against Coinbase, Gemini, Robinhood, Ripple, Crypto.com, Uniswap, Yuga Labs, and Kraken were reportedly ended.

Pro-Crypto Policies Helped Trump Family Make Money

The report also explains steps that reduced federal crypto oversight. The Trump administration ended the Department of Justice’s National Cryptocurrency Enforcement Team. It also removed investor protection rules introduced by President Joe Biden, including the digital assets executive order. These actions helped the Trump family make billions in cryptocurrency in under a year.

Representative Raskin said the report shows that the “pro-crypto agenda” may have been mainly a way for the Trump family to make money. He added that the Oval Office acted like a crypto startup focused on profit. This allowed foreign actors to get secret access. At the same time, it weakened rules meant to protect regular investors.

The report also points out bigger problems in U.S. laws. It mentions gaps in campaign finance rules, anti-bribery rules, and conflict-of-interest laws. These gaps may have allowed these activities to happen without checks. The report calls for stronger safeguards and better oversight. This is needed to stop future misuse of political power for private gain.

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