- Democrats of the House Judiciary Committee have released an extensive staff report to substantiate their allegations of President Trump’s billion-dollar crypto corruption.
- The lawmakers criticize Trump’s alleged favouritism towards sponsors, evidenced by the erasure of crypto cases with regulators and the appointment of crypto allies.
- The Committee has vowed to continue trailing and exposing the President’s crypto activities.
US House Judiciary Committee Democrats released a critical report exposing President Trump’s billion-dollar crypto empire, which they allege is funded by corrupt proxy dealings, foreign interests, and intentional erosion of anti-corruption protections.
“Trump, Crypto, And a New Age Of Corruption”
In the report titled “Trump, Crypto, and a New Age of Corruption,” the Democratic lawmakers expatiated on the events that led to the monumental, nonorganic increase in value of the President and his family’s financial estate.
“This report shows how the President has leveraged his office to make himself a crypto billionaire and how he has extended broad protection to fraudsters, scam artists, and other online criminals—who, in turn, repay the President and his family with millions of dollars in tribute.”
President Trump is being indicted for his crypto dealings, especially his sales of crypto assets, which, according to Reuters, hauled in over $800 million for his family just within his first few months of assuming office. Other sources, said the report estimate that his total crypto holdings are worth up to $11.6 billion.
His critics claim that he steered investment to his family firm, while exonerating his high-profile investors from federal fraud and securities scrutiny. Furthermore, he’s being called out for undermining the efforts of federal agencies investigating bribery and malicious actors online by influencing the dismissal of several lawsuits related to crypto companies and individuals that sponsored him.
Trump Allegedly Influenced Federal Regulators, Undermined Enforcement Efforts
The lawmakers emphasized that Trump’s SEC (Securities and Exchange Commission) and DOJ (Department of Justice) were influenced to drop lawsuits related to crypto companies like Coinbase, Gemini, Robinhood, Crypto.com, Ripple, Kraken, Yuga Labs, and Uniswap.
In addition, the report states that all of the “Trump administration’s actions related to cryptocurrency are targeted to aid his business interests and those of his donors.” Firstly, Trump announced a federal crypto strategic reserve in March 2025, to include Solana and Ripple, which the Dems believe got that favor because they donated to his inauguration committee.
Also, the lawmakers argue that the President’s repeal of Biden-era protections through his Executive Order 14178 is suspicious. By repealing the former order, Trump directed the Treasury Secretary to revoke the Department’s “Framework for International Engagement on Digital Assets” and institute a President’s Working Group on Digital Asset Markets, which now recommends digital asset regulatory proposals.
In October, Trump pardoned Binance founder and former CEO Changpeng “CZ” Zhao, who was indicted and imprisoned for failing to maintain an effective anti-money laundering program on the platform, attracting stern criticism from leading Democrats. The recent report claims CZ’s pardon came primarily because “Binance has played a significant role” in the success of Trump-family-backed World Liberty Financial’s USD1 stablecoin.
Binance is said to have supported the Trump-affiliated firm by accepting a $2 billion investment in USD1 from a UAE-based investor. Moreso, some sources report that Binance helped with the foundational programming for the USD1 stablecoin.
The Judiciary Committee Democrats criticise Trump’s appointment of crypto allies to key positions. They will continue to keep tabs on the “Trump family’s crypto dealings” and look forward to “exposing and ending all the corruption.”
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
