Overview
- House Judiciary Committee Democrats released a 27-page staff report on Nov. 24 alleging the Trump family earned more than $800 million from crypto ventures in the first half of 2025.
- The report cites examples in which companies that donated to or partnered with Trump-linked entities later saw investigations paused or closed, including cases involving Ripple, Crypto.com, and Justin Sun.
- Earlier reporting documented a $2 billion transfer from a UAE sovereign fund to Binance using USD1, a stablecoin sold by the Trump family’s World Liberty Financial, which prompted a May 5 request from Sens. Elizabeth Warren and Jeff Merkley for an Office of Government Ethics inquiry.
- President Donald Trump pardoned Binance founder Changpeng Zhao on Oct. 21, and Binance announced an expanded partnership with World Liberty Financial five days later, while the White House has denied conflicts and described a thorough pardon review process.
- Watchdogs and some lawmakers have warned that weakened ethics guardrails complicate oversight, pointing to inspector general vacancies and the ouster of the prior Office of Government Ethics director, even as no official finding of quid pro quo has been made public.