White House Used for Trump Family Crypto Gains, Democrats Claim in New Report
House Judiciary Committee Democrats released a report Monday accusing the Trump administration of utilizing presidential powers to profit the Trump household’s cryptocurrency ventures, alleging they generated round $800 million from token gross sales in early 2025.
The 60-page report titled “Trump, Crypto, and a New Age of Corruption” alleges the President reworked his workplace into what Ranking Member Jamie Raskin described as “the world’s most corrupt crypto startup operation.”
According to the doc, Trump household crypto holdings may attain $11.6 billion, although exact valuations stay troublesome to find out given market volatility.
Report Details Foreign Investment Concerns
Democrats spotlight what they describe as questionable international investments in World Liberty Financial’s $WLFI governance token.
According to the report, Chinese-born crypto billionaire Justin Sun invested $75 million in WLFI whereas going through SEC scrutiny. The company later requested to remain its enforcement motion, citing “public curiosity.“
Another investor, Aqua 1 Foundation, reportedly bought $100 million in WLFI tokens. Congressional investigators say they discovered no Emirati public data confirming the fund’s company existence.
The report identifies the fund’s management as together with Guren “Bobby” Zhou, allegedly underneath investigation in Britain for cash laundering, and Dave Lee, who the report suggests could also be linked to China National Petroleum Corporation.
The allegations additionally touched on the timing of state-backed Emirati firm MGX’s announcement that it would invest $2 billion in Binance utilizing World Liberty’s USD1 stablecoin.
They notice that this deal emerged because the UAE negotiated for American AI chips, and that Trump subsequently dismissed six National Security Council officers who opposed the association.
Enforcement Changes Follow Industry Donations
The report claims the administration dismantled crypto enforcement mechanisms whereas ending investigations in opposition to corporations that donated to Trump’s marketing campaign.
According to Democrats, the Justice Department dissolved its National Cryptocurrency Enforcement Team, which had dealt with main crypto crime instances.
The SEC closed investigations into Coinbase, Gemini, Robinhood, Ripple, Crypto.com, Uniswap, Yuga Labs, and Kraken, corporations the report identifies as Trump donors or enterprise companions.
When Ripple and Solana have been included in Trump’s proposed crypto reserve, their token costs rose by 33% and 25%, respectively, in response to market information.
In October, Trump pardoned Binance founder Changpeng Zhao, who pleaded responsible to cash laundering in 2023 as a part of Binance’s $4.3 billion settlement with the DOJ.
The report alleges the pardon got here after Zhao and Binance supported World Liberty Financial.
Token Performance Shows Mixed Results
According to the report, WLFI initially raised solely $2.7 million from 348 buyers at launch. Following Trump’s election victory, the token reportedly surged over 2000%, producing $550 million from roughly 85,000 buyers.
The report states that buying and selling debut on main exchanges in September valued the Trump household’s WLFI stake at over $6 billion.
The $TRUMP memecoin, launched days earlier than the inauguration, allegedly generated $350 million in buying and selling charges.
Market information reveals the token peaked at $75 earlier than dropping practically two-thirds of its worth over the subsequent week.
According to the report, whereas 45 crypto wallets cleared $1.2 billion in earnings, over 712,000 wallets collectively misplaced $4.3 billion.
Trump hosted a dinner for the top 220 WLFI holders, with the report estimating the typical price at over $1 million.
Democrats declare greater than half the attendees have been doubtless international people, together with He Tianying, recognized as a member of China’s Political Consultative Conference.
According to Financial Times estimates cited in the report, World Liberty earned round $42 million from its USD1 stablecoin, which grew from $128 million to just about $2.7 billion in market capitalization.
The report alleges Binance helped develop USD1’s underlying know-how.
Democratic lawmakers warn in the report that Trump’s reported capability to build up billions by way of cryptocurrency exposes weaknesses in marketing campaign finance and anti-bribery legal guidelines.
They cite polling suggesting that 60% of Americans haven’t heard that the President’s household runs a crypto enterprise.
The Trump household’s wealth ballooned by $6B after $WLFI, their flagship crypto token, made its debut on main exchanges and opened for buying and selling.#TrumpFamily #WLFI https://t.co/IcK4AYdI4D
— Cryptonews.com (@cryptonews) September 2, 2025
Cryptonews beforehand reported in September that the Trump family’s paper fortune surged by as much as $6 billion when WLFI started buying and selling on main exchanges, with early buyers seeing 15x good points.
Financial Times estimated in October that the Trump family’s crypto ventures generated around $1 billion in pre-tax gains over the previous yr.
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