Democratic lawmakers from the US Home of Representatives have accused President Donald Trump and his administration of utilizing the White Home to counterpoint the presidential household by their crypto companies, calling on Congress to combat corruption.
Home Democrats Name Out ‘New Age of Corruption’
In a latest report from the Home Judiciary Committee, Democratic Consultant Jamie Raskin claimed that President Trump had allegedly “exploited” the presidency and remodeled the White Home into “a private money-making operation” that has added billions of {dollars} to his web price by his crypto ventures.
The 27-page doc, named “Trump, Crypto, and a New Age of Corruption,” compiled a number of information media outlet experiences affirming that the US President has seen his household’s crypto holdings surge to $11.6 billion since he stepped into workplace in January, making over $800 million from the sale of digital property within the first half of 2025.
As reported by Bitcoinist, a Monetary Occasions investigation launched in October claimed that the Trump household’s crypto fortune has surged to over $1 billion from his a number of digital asset ventures since his return to the White Home.
The investigation defined that Trump’s digital asset companies have considerably boosted the US President’s web price on paper by billions of {dollars}, however solely calculated the potential revenue from the realized earnings of World Liberty Monetary’s WLFI token and USD1 stablecoin, and the official TRUMP and MELANIA memecoins.
Based on FT calculations, the TRUMP and MELANIA memecoins made round $362 million and $65 million, respectively, for a complete of $427 million in gross sales and buying and selling charges. Furthermore, the WLFI token had generated roughly $550 million by the point of the investigation, whereas the USD1 stablecoin, which recorded $2.71 billion in complete gross sales, probably $42 million.
“Donald Trump has turned the Oval Workplace into the world’s most corrupt crypto startup operation, minting staggering private fortunes for him and his household in lower than a 12 months.” Consultant Raskin affirmed in a Press Launch.
“We don’t know the place all the cash is coming from but, however America has by no means seen corruption on this scale happen contained in the White Home. This Report exhibits how Trump’s so-called ‘pro-crypto agenda’ is only one extra Trump household self-enrichment plan, constructed on pay-to-play offers and corrupt international pursuits in search of secret channels of entry and affect,” he continued.
Trump’s Crypto Ventures Expose ‘Weaknesses’ Of US System
Raskin additionally acknowledged that the Trump administration has “dismantled” federal oversight and safeguards that had been set to guard Individuals from fraud, scams, and monetary exploitation. “Trump has been pardoning criminals who commit fraud by crypto and dismantling the rules that defend reliable American buyers.”
The report offered an inventory of actions that superior “Trump and his household’s private monetary pursuits on the expense of the legislation, ethics, and nationwide safety.” The proof uncovered within the doc included claims that the President’s crypto ventures have “attracted substantial investments from international nationals and state-linked entities in search of to curry favor with the Administration.”
Final week, Democratic Senators expressed issues about potential nationwide safety dangers associated to World Liberty Monetary over token gross sales allegedly linked to illicit actors. In a letter, the lawmakers requested that Legal professional Basic Pam Bondi and Treasury Secretary Scott Bessent examine allegations that the Trump-backed firm had offered tokens to sanctioned entities or people with ties to illicit actors in Russia and North Korea.
Additionally they argued that World Liberty Monetary and its token “lacks ample safeguards to forestall unhealthy actors from transferring funds or gaining affect over its governance,” which raises issues over a possible battle of curiosity.
The Committee’s report highlighted that the Trump Administration has paused or ended most investigations and enforcement actions involving main crypto corporations and disbanded a number of federal-level crypto enforcement models. As well as, it expressed concern in regards to the controversial pardons difficulty to key business gamers, like Binance’s co-founder, Changpeng Zhao.
Finally, the doc warned that Trump’s crypto strikes seemingly expose “extreme weaknesses” within the US’s marketing campaign finance, conflict-of-interest, and anti-bribery legal guidelines. “Congress should expose this harmful grift, and defend the rule of legislation in opposition to the profiteers and criminals who would destroy it,” Raskin concluded.
WLFI trades at $0.164 on the one-week chart. Supply: WLFIUSDT on TradingView
Featured Picture from Unsplash.com, Chart from TradingView.com
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