- Democrats have issued a partisan report claiming President Trump used his position for crypto.
- Although he was long a crypto-skeptic, President Trump has taken action to establish regulatory policies.
A new report was released on November 24 by the House Judiciary Committee Democrats, explaining how the administration of Donald J. Trump has exploited the powers of the presidency to enrich him and his family. According to the findings, the Trump family has reportedly amassed crypto holdings worth up to US$11.6 billion. In the first half of 2025 alone, they earned more than US$800 million from sales of crypto tokens tied to their ventures.
The report states.
“During President Trump’s first term, federal agencies ramped up their efforts to address illicit uses of cryptocurrency,”
At the time, federal agencies took a stricter approach, launching 70 SEC enforcement actions and levying penalties totaling more than $1.5 billion.
Issuing Crypto Pardons, Influence, and WLF
Over time, the Trump administration tore down key regulatory safeguards, most notably by dissolving the Department of Justice’s National Cryptocurrency Enforcement Team, and has also granted pardons to corporate figures in the crypto industry.
One example is that of Changpeng “CZ” Zhao, who faced charges in 2023 and received clemency after he and Binance promoted World Liberty Financial. Back in March, CNF reported that Trump also granted pardons to the executives of BitMEX, Arthur Hayes, Benjamin Delo, and Samuel Reed.
It also points to the President’s January 23 order repealing Biden-era protections for digital assets as a turning point. The administration halted investigations into several donors, including Coinbase, Crypto.com, Kraken, Robinhood, which contributed $2 million to Trump’s inaugural committee, and Ripple (XRP), which reportedly gave $5 million.
A central focus of the report is World Liberty Financial, the crypto enterprise the Trump family launched in 2024. WLF has since rolled out multiple products, including its governance token WLFI and its own stablecoin, USD1, which the report estimates has generated roughly $42 million in revenue.
In Trump’s 2024 financial disclosure, he reported personal income of $57.3 million from WLF. The report also claims the Trump family earned $463 million in the first half of 2025 from the sale of WLFI tokens alone. Democrats argue this created a pipeline through which corporate players could invest in the projects in exchange for influence. One cited example is Justin Sun, founder of Tron, who invested $75 million in WLFI.
The report concludes,
“This Committee will continue to monitor the Trump family’s crypto dealings and looks forward to exposing and ending all the corruption.”
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