Democrats request Senate hearings into President Trump's $1.2 billion crypto gains from the prior year.
Regulation & Gov ·
Five top Senate Democrats have sought congressional hearings into President Trump's crypto holdings after disclosures revealed over $1.2 billion in crypto-related income generated for him last year. The lawmakers—Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden—cited worries about conflicts of interest, foreign involvement, and the president's influence over crypto policy while profiting from the sector. They noted that the disclosures included unknown third-parties holding stakes in World Liberty Financial, Trump's family crypto venture, with UAE royals acquiring 49% ownership.
The senators, who lead the Banking, Investigations, Homeland Security, Judiciary, and Finance committees respectively, requested hearings across those bodies. Their statement emphasized concerns that Trump may push Congress to pass favorable crypto legislation while simultaneously benefiting from the industry, and flagged administrative actions to remove cryptocurrencies from existing financial oversight and dissolve the Department of Justice's cryptocurrency enforcement unit.
The push follows Trump's financial disclosure showing earnings of more than $635 million from his meme coin and over $588 million from World Liberty Financial token sales, alongside holdings of tens of millions in Bitcoin and Ethereum. The request comes as the Clarity Act, a bill to legalize most U.S. crypto activity, faces delays over ethics provisions designed to restrict the president's authority to issue or endorse digital assets while serving.