A recently released, explosive report from House Judiciary Committee Democrats levels serious allegations against former President Trump, asserting he leveraged his time in office to build a substantial cryptocurrency fortune. Titled "Trump, Crypto, and a New Age of Corruption," the report details a pattern of self-enrichment through digital assets, coupled with the systematic dismantling of regulatory oversight for crypto ventures and potential foreign influence.
Allegations of Crypto Fortune and Personal Gain
The report claims the Trump family amassed over $800 million from crypto sales in the first half of 2025 alone, with Trump's crypto holdings allegedly surpassing any single real estate asset in his portfolio. Central to this alleged fortune was World Liberty Financial, which reportedly generated $550 million through its $WLFI governance tokens and saw its USD1 stablecoin reach a $2.7 billion market cap. Furthermore, the $TRUMP memecoin, launched just days before the inauguration with Trump controlling 80% of its supply, reportedly yielded $1.2 billion in profits for certain wallets, though it resulted in collective losses of $4.3 billion for over 700,000 other investors. Trump Media also announced a significant $2.5 billion "bitcoin treasury," highlighting the scale of these digital asset dealings.
Regulatory Concessions and Foreign Influence Concerns
A key allegation outlined in the report is a "quid pro quo" linking investments in Trump’s crypto ventures or donations to his inauguration with favorable regulatory treatment. Instances cited include the SEC resolving an enforcement action against Ripple after a substantial donation and dropping an investigation into Crypto.com following its partnership with Trump Media. The report also raises alarms about foreign influence, pointing to obscure UAE-linked funds like Aqua 1 Foundation making large investments in $WLFI, and the UAE sovereign wealth fund MGX investing $2 billion in Binance using World Liberty's stablecoin, reportedly coinciding with sensitive US-UAE negotiations on AI chips where dissenting National Security Council officials were dismissed. Beyond individual cases, the report outlines a systematic weakening of crypto enforcement, citing the disbanding of the DOJ’s National Cryptocurrency Enforcement Team, SEC guidance exempting memecoins from securities laws, and the controversial pardon of Binance founder CZ Zhao, who had pleaded guilty to money laundering, after his company promoted World Liberty Financial.
