Warren: Crypto Legislation Heading to Senate Floor Must Prevent President Donald Trump from Profiting Off the Presidency
“Leader Thune has indicated he aims to hold a floor vote on crypto market structure legislation this month, despite significant flaws in the current draft that have raised concerns about risks to national security, financial stability, consumer protection, and ethics.”
New financial disclosures by the President he show made roughly $1.4 billion from his cryptocurrency ventures – more than double his total income in 2024 and more than any publicly traded U.S. crypto company earned last year
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, sent a letter to Senate Majority Leader John Thune (R-SD) and Minority Leader Chuck Schumer (D-NY) urging that any crypto legislation heading to the Senate floor prevent the President, Vice President, senior administration officials, members of Congress, and their families from profiting off the crypto industry. This letter comes in light of the Office of Government Ethics (OGE) release of President Trump’s Public Financial Disclosure Report for 2025, which revealed that in 2025 alone, the President made roughly $1.4 billion from his cryptocurrency ventures.
The Ranking Member wrote: “Leader Thune has indicated he aims to hold a floor vote on crypto market structure legislation this month, despite significant flaws in the current draft that have raised concerns about risks to national security, financial stability, consumer protection, and ethics. Those concerns have become even more pressing in light of the President’s 2025 financial disclosure, which underscores the severity of his crypto-related conflicts of interest.”
The OGE report comes in the wake of reports from early this year that, just days before Donald Trump’s presidential inauguration, “United Arab Emirates (UAE) National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan “signed a deal with the Trump family to purchase a 49% stake in” World Liberty Financial, the crypto business held by WLF Holdco LLC,” wrote Ranking Member Warren. “According to the financial disclosure, that deal generated a whopping $263 million windfall for the President.”
The Ranking Member also raised concerns around the Trump family’s skyrocketing crypto profits as President Trump continues to lobby Congress to pass cryptocurrency deregulation legislation.
Ranking Member Warren wrote: “‘Trump Family Members,’for example, have a 30% ownership stake in ‘DT Marks Defi LLC,’ a cryptocurrency venture that includes ‘Coinbase accounts’ worth over $100 million and a ‘38.25% ownership interest in WLF Holdco LLC,’” continued the Ranking Member. “‘WLF Holdco LLC’ owns ‘the only membership interest in World Liberty Financial, Inc.,’ the cryptocurrency company founded by President Trump and his sons. DT Marks Defi LLC alone generated over $590 million in income in 2025.”
Ranking Member Warren noted that despite the many hours the Senate is devoting to this issue, recent public opinion polling suggests that the American public is far more concerned with the affordability crisis exacerbated by President Trump’s disastrous economic agenda. But rather than addressing Americans’ real concerns, the Senate appears to be prioritizing legislation that could further boost the Trump family’s crypto businesses.
###
Next Article Previous Article