A new staff report from House Judiciary Committee Democrats accuses President Donald Trump of turning the Oval Office into a crypto startup to enrich his family.
Released earlier this week by Ranking Member Rep. Jamie Raskin (D-MD), the report, titled “Trump, Crypto, and a New Age of Corruption”, alleges that Trump’s presidency has evolved into a personal wealth-generating machine built around cryptocurrency ventures linked to foreign governments, corporate allies, and criminal actors.
Trump’s Crypto Empire Soars to $11 Billion
It states that Trump expanded his crypto empire during and after the 2024 election, generating billions in new wealth. The report cites a Reuters investigation claiming Trump and his family earned $800 million from crypto sales in the first half of 2025. Consequently, it estimated the value of Trump’s crypto ventures, including World Liberty Financial and his meme coins, at roughly $11 billion.
It categorically named Justin Sun as one of the leading investors in World Liberty Financial, referring to him as the owner of “illicit crypto exchange,” Tron. Despite this description, Tron is a public blockchain and the underlying network of the USDT stablecoin.
Crypto Donations in Exchange for Political Pardons and Reduced Scrutiny
Moreover, the report alleges that foreign nationals and state-linked entities invested heavily in Trump-linked crypto ventures. Per the report, these investors received swift policy rewards through the shutdown of federal investigations and enforcement actions.
Notably, Ripple, Coinbase, Kraken, Yuga Labs, and Gemini were mentioned as firms that benefited from reduced scrutiny after donating to Trump’s campaign. It also points to Trump’s pardons of key crypto stakeholders involved in crypto-related crimes, describing them as rewards for backing his ventures.
The allegations come several weeks after Trump pardoned Binance’s co-founder Changpeng Zhao (CZ), who served a four-month prison sentence last year for violating U.S. anti-money laundering (AML) rules.
Committee’s Warnings
Meanwhile, the report criticizes Trump’s pro-crypto agenda, describing it as another self-enrichment strategy driven by his family’s crypto interests. It also alleged that Trump rewarded crypto donors by dismantling federal safeguards, including the DOJ’s National Cryptocurrency Enforcement Team (NCET).
Beyond these allegations, the committee warns that a president who accumulates vast private wealth from influence-seeking crypto actors exposes major legal weaknesses and vulnerabilities in anti-bribery laws and in conflict-of-interest laws.
Therefore, the committee urges Congress to act quickly and pass new reforms to restore accountability and integrity to the presidency.
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