House Democrats Allege Trump Administration Is ‘World’s Most Corrupt Crypto Startup Operation’ – Report

Democratic lawmakers from the US House of Representatives have accused President Donald Trump and his administration of utilizing the White House to counterpoint the presidential household by means of their crypto companies, calling on Congress to combat corruption.

House Democrats Call Out ‘New Age of Corruption’

In a latest report from the House Judiciary Committee, Democratic Representative Jamie Raskin claimed that President Trump had allegedly “exploited” the presidency and reworked the White House into “a private money-making operation” that has added billions of {dollars} to his internet value by means of his crypto ventures.

The 27-page doc, named “Trump, Crypto, and a New Age of Corruption,” compiled a number of information media outlet reviews affirming that the US President has seen his household’s crypto holdings surge to $11.6 billion since he stepped into workplace in January, making over $800 million from the sale of digital property within the first half of 2025.

As reported by Bitcoinist, a Financial Times investigation launched in October claimed that the Trump household’s crypto fortune has surged to over $1 billion from his a number of digital asset ventures since his return to the White House.

The investigation defined that Trump’s digital asset companies have considerably boosted the US President’s internet value on paper by billions of {dollars}, however solely calculated the potential earnings from the realized earnings of World Liberty Financial’s WLFI token and USD1 stablecoin, and the official TRUMP and MELANIA memecoins.

According to FT calculations, the TRUMP and MELANIA memecoins made round $362 million and $65 million, respectively, for a complete of $427 million in gross sales and buying and selling charges. Moreover, the WLFI token had generated roughly $550 million by the point of the investigation, whereas the USD1 stablecoin, which recorded $2.71 billion in complete gross sales, probably $42 million.

“Donald Trump has turned the Oval Office into the world’s most corrupt crypto startup operation, minting staggering private fortunes for him and his household in lower than a 12 months.” Representative Raskin affirmed in a Press Release.

“We don’t know the place all the cash is coming from but, however America has by no means seen corruption on this scale happen contained in the White House. This Report exhibits how Trump’s so-called ‘pro-crypto agenda’ is only one extra Trump household self-enrichment plan, constructed on pay-to-play offers and corrupt overseas pursuits searching for secret channels of entry and affect,” he continued.

Trump’s Crypto Ventures Expose ‘Weaknesses’ Of US System

Raskin additionally acknowledged that the Trump administration has “dismantled” federal oversight and safeguards that have been set to guard Americans from fraud, scams, and monetary exploitation. “Trump has been pardoning criminals who commit fraud by means of crypto and dismantling the laws that shield reputable American traders.”

The report offered an inventory of actions that superior “Trump and his household’s private monetary pursuits on the expense of the regulation, ethics, and nationwide safety.” The proof uncovered within the doc included claims that the President’s crypto ventures have “attracted substantial investments from overseas nationals and state-linked entities searching for to curry favor with the Administration.”

Last week, Democratic Senators expressed issues about potential nationwide safety dangers associated to World Liberty Financial over token gross sales allegedly linked to illicit actors. In a letter, the lawmakers requested that Attorney General Pam Bondi and Treasury Secretary Scott Bessent examine allegations that the Trump-backed firm had bought tokens to sanctioned entities or people with ties to illicit actors in Russia and North Korea.

They additionally argued that World Liberty Financial and its token “lacks satisfactory safeguards to forestall unhealthy actors from transferring funds or gaining affect over its governance,” which raises issues over a possible battle of curiosity.

The Committee’s report highlighted that the Trump Administration has paused or ended most investigations and enforcement actions involving main crypto firms and disbanded a number of federal-level crypto enforcement items. In addition, it expressed concern in regards to the controversial pardons situation to key trade gamers, like Binance’s co-founder, Changpeng Zhao.

Ultimately, the doc warned that Trump’s crypto strikes seemingly expose “extreme weaknesses” within the US’s marketing campaign finance, conflict-of-interest, and anti-bribery legal guidelines. “Congress should expose this harmful grift, and defend the rule of regulation in opposition to the profiteers and criminals who would destroy it,” Raskin concluded.