Trump’s Growing Crypto Fortune Sparks Allegations of Political Conflicts

A new report from Democrats on the House Judiciary Committee alleges that President Donald Trump and his family have amassed hundreds of millions of dollars through their expanding involvement in the cryptocurrency industry, raising accusations that the president has leveraged his political influence for personal gain. Representative Jamie Raskin, the committee’s top Democrat, said the findings point to “corruption on this scale” never before seen inside the White House, arguing that Trump’s pro-crypto agenda is intertwined with foreign interests and pay-to-play opportunities that benefit his family’s ventures.

The report arrives at a pivotal moment for U.S. crypto policy, as lawmakers negotiate the Senate’s highly anticipated market structure bill. While Congress is simultaneously debating cuts to healthcare and social programs, Democrats highlight what they describe as a troubling influx of wealth directed toward the Trump family. The document accuses Trump of using his position to encourage investment in his businesses, shield allies from federal investigations, and influence agencies responsible for policing fraud and illicit finance in the digital asset ecosystem.

Karoline Leavitt, Trump’s press secretary, rejected the allegations, calling them politically motivated attacks aimed at undermining public trust. She maintained that neither the president nor his family has engaged in conflicts of interest and argued that the administration’s crypto-friendly policies — including support for the GENIUS Act — are part of a broader effort to strengthen innovation and economic growth in the United States.

Despite repeated denials from Trump representatives, the report underscores how deeply intertwined the administration has become with the crypto sector. Industry lobbying efforts have flourished under his leadership, resulting in major policy wins such as a new stablecoin law and regulatory shifts favoring digital assets. However, this close alignment with Republican lawmakers could pose risks if Democrats regain control of the House in next year’s midterm elections, as many remain divided over crypto regulation and wary of potential national security and corruption concerns.

Raskin argues that Trump’s second term reflects a “brazen campaign” to elevate an industry in which he is now personally invested — a dynamic that continues to fuel debate about the intersection of political power, digital assets, and public trust.