Trump Accused of Running a Crypto Enrichment Plan Built on Unprecedented Corruption
President Donald Trump and his family have accumulated hundreds of millions of dollars through a sprawling network of crypto-linked ventures, according to a blistering new report from Democrats on the House Judiciary Committee.
The report alleges that Trump’s crypto advocacy is not a policy vision but a vehicle for personal enrichment, fueled by foreign interests, political donors, and preferential regulatory treatment.
Representative Jamie Raskin, the committee’s ranking Democrat, framed the findings as unprecedented. “We don’t know where all the money is coming from yet, but America has never seen corruption on this scale take place inside the White House,” he said.
“Trump’s so-called ‘pro-crypto agenda’ is just one more Trump family self-enrichment plan, built on pay-to-play deals and corrupt foreign interests seeking secret channels of access and influence.”
Also read: Secretive Senate Crypto Negotiations Collide With Warren’s Trump Probe
A Report Arriving at a Critical Moment for Crypto Legislation
The document lands at a time when crypto policy is one of the most contentious debates in Washington. The Senate’s market structure bill — a landmark piece of legislation that would define rules for exchanges, stablecoins, and token issuers — remains stuck in tense negotiations. The report’s allegations add political heat just as key committees prepare for potential markups.
Democrats argue that Trump’s deep financial ties to digital asset ventures complicate the legislative process. With Congress simultaneously locked in battles over healthcare spending, social programs and fiscal priorities, the report casts Trump’s crypto gains as part of a broader pattern: political power leveraged for personal financial benefit.
“He has built this wealth from the Oval Office by steering investment to his family firm, shielding his investors from federal fraud and securities investigations and prosecutions, bilking his political base and degrading federal agencies responsible for investigating bribery and tracking known bad actors online,” the report asserts.
White House Pushback: “Fabricated Conflicts”
The Trump administration strongly rejected the allegations.
Karoline Leavitt, Trump’s press secretary, called the report baseless and politically motivated.
“The media’s continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public’s distrust in what they read,” she said in a statement. “Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest.”
Leavitt argued that Trump’s crypto policies — including executive actions, support for the GENIUS Act, and pro-innovation directives — are designed to make the U.S. the “crypto capital of the world,” driving economic gains that benefit all Americans.
Officials aligned with Trump have repeatedly insisted that his support for the industry is about competitiveness, not personal profit. But Democrats counter that the president’s crypto footprint is too large, too interconnected, and too entwined with foreign money to ignore.
Industry Wins Under Trump Could Bring Political Risks
The crypto industry has undeniably made progress under Trump.
The U.S. passed a federal stablecoin law this year, while key regulators have adopted more industry-friendly interpretations of digital asset rules. For exchanges, stablecoin issuers, tokenization startups, and miners, the shift has been a clear win.
But those victories may come with political vulnerability.
Democrats remain divided on whether to support new digital asset legislation—and some factions have pushed for sweeping restrictions, including bans on senior government officials profiting from crypto-related businesses. They’ve also raised persistent concerns about illicit finance, foreign influence, and the possibility that individuals with criminal ties could be using investments in Trump-aligned ventures — including World Liberty Financial Inc. — to gain access to the White House.
These arguments have gained momentum as the administration embarks on major crypto initiatives, and as Republican lawmakers deepen their alignment with the industry ahead of next year’s midterm elections. Should Democrats regain control of the House, the sector could face dramatically more scrutiny.
A “Brazen Campaign” to Boost an Industry He Now Helps Lead
Raskin’s report ultimately paints Trump as both a policymaker and a crypto market participant with outsized influence — a dual role Democrats say creates unacceptable risks.
“Over the course of his second administration, President Trump has embarked on a singleminded, brazen campaign to pump up the cryptocurrency industry in which he is now a key player,” the report concludes.
For now, the political fight over crypto is tightening. And as Washington debates both the future of digital assets and the limits of presidential power, the line between public policy and private profit is becoming the center of the storm.
