Overview
- A partisan staff report from House Judiciary Committee Democrats, signed by Rep. Jamie Raskin, accuses President Trump of turning the White House into the “world’s most corrupt crypto startup operation.”
- The document cites earlier Reuters reporting to claim the Trump family made about $800 million from token sales in the first half of 2025 and now holds roughly $11 billion in crypto and equities.
- Democrats allege foreign-linked money flowed into Trump-branded ventures such as World Liberty Financial and the OFFICIAL TRUMP token, naming Justin Sun, while the report mistakenly describes Tron as an exchange rather than a blockchain network.
- The report ties alleged favors to policy moves including pardons for Arthur Hayes and Changpeng Zhao, dissolution of the DOJ’s National Cryptocurrency Enforcement Team, repeal of a Biden-era digital-assets order, and the halting or deprioritization of investigations into firms like Coinbase, Gemini, Ripple, Crypto.com, Uniswap, Yuga Labs, Kraken, and Robinhood.
- Reps. Raskin, Gerry Connolly, and Joseph Morelle asked Treasury Secretary Scott Bessent for suspicious activity reports related to OFFICIAL TRUMP and WLFI, as advocacy groups such as Public Citizen urged new limits on elected officials’ crypto trading and token sponsorship.