Trump White House ‘World’s Most Corrupt Crypto Startup Operation’: House Democrats

Donald Trump and his household have used the presidency to make a whole lot of tens of millions of {dollars} from “cryptocurrency schemes,” in keeping with a brand new partisan report from Home Judiciary Committee Democrats.

The report, signed by Rep. Jamie Raskin (D-MD), seeks to doc how President Trump has doubled his internet value for the reason that begin of his 2024 election marketing campaign, primarily by means of the launch of cryptocurrency-related ventures and companies.

On the subject of research of ReutersThe report notes that Trump and his household made $800 million from cryptocurrency gross sales within the first half of 2025 alone, and that the full worth of cryptocurrency and shares owned by the household now stands at $11 billion.

Home Judiciary Committee Democrats additionally declare that a lot of this wealth has ties to foreigners and even organized crime, most notably by means of possession of the cryptocurrency World Liberty Monetary (WLFI).

Addressing publicly recognized traders in WLFI, the report says: “Probably the most distinguished instance is Justin Solar, a Chinese language-born crypto billionaire who based the Tron cryptocurrency trade which has been described as a haven for ‘unlawful crypto exercise.’” Whereas Solar is the founding father of Tronit is a good contract blockchain somewhat than an trade – though Solar does have hyperlinks to the crypto trade HTX, and payments itself as an ‘advisor’ to the corporate.

Crypto Trade “Purchase Entry”

The report additionally means that the Trump household’s possession of tokens has opened the White Home to exterior affect and lobbying from international actors and the cryptocurrency trade.

“Overseas actors and company pursuits have purchased entry and favors from the President and his administration by funneling cash into the Trump household’s cryptocurrency ventures and making giant, politically motivated donations,” the press launch stated. “In return, these lenders have obtained fast returns: regulatory rollbacks, coverage giveaways, and the quiet termination of federal investigations into main gamers within the crypto trade.”

These claims come within the wake of President Trump pardoning BitMex founder Arthur Hayes in March, and Binance founder Changpeng Zhao in October.

Additionally they come because the World Federation of Exchanges – an trade physique representing main exchanges all over the world – has written a letter to the US Securities and Trade Fee, urging the regulator to not grant cryptocurrency corporations regulatory exemptions to supply tokenized shares.

The report additionally notes that the Trump administration has ended investigations or circumstances towards a number of main cryptocurrency corporations, together with Coinbase, Gemini, Robinhood, Ripple, Crypto.com, Uniswap, Yuga Labs and Kraken.

Relatedly, President Trump has disbanded the Justice Division’s Nationwide Cryptocurrency Enforcement Crew, whereas additionally rescinding investor safety guidelines equivalent to his predecessor, Joe Biden’s Making certain Accountable Improvement of Digital Property government order.

For Democrats on the Home Judiciary Committee, this far-reaching shift has allowed President Trump and his household to “accumulate billions of {dollars} in cryptocurrency in lower than a 12 months,” one thing that factors to “flanking weak point” in america’ marketing campaign finance methods and its legal guidelines governing lobbying, conflicts of curiosity and bribery.

Raskin summarized the partisan report, saying Trump has turned the “Oval Workplace into essentially the most corrupt crypto startup operation on this planet” whereas dismantling laws that shield personal traders.

“This report exhibits how Trump’s so-called ‘pro-crypto agenda’ is simply one other Trump household self-enrichment scheme constructed on pay-to-play offers and corrupt international pursuits looking for secret channels of entry and affect,” he stated. “Congress should expose this harmful rip-off and defend the rule of regulation towards the profiteers and criminals who wish to destroy it.”

The White Home has been contacted for remark.