New records show the Trump family made $1.4 billion from cryptocurrency during the first year of his second term alone.
Washington, D.C. — U.S. Sen. Ron Wyden, D-Ore., said today he has joined Senate Democratic colleagues in sounding the alarm on the Trump family’s blatant and unprecedented misuse of the office of the President to line their pockets with billions of dollars from the cryptocurrency industry.
Joining Wyden, ranking member of the Senate Finance Committee, in sending the letter were the ranking members of four other influential committees in the Senate. These include Richard Blumenthal, D-Conn., ranking member of the Permanent Subcommittee on Investigations; Dick Durbin, D-Ill., ranking member of the Senate Committee on the Judiciary; Gary Peters, D-Mich., ranking member of the Committee on Homeland Security and Governmental Affairs; and Elizabeth Warren, D-Mass., ranking member of the Senate Banking, Housing, and Urban Affairs Committee.
“President Trump’s new financial disclosures reveal the Trump family crypto ventures generated the vast majority of his income – about $1.4 billion in the first year of his second term alone,” Wyden and the senators wrote. “The President’s financial disclosures also revealed that unknown “Third Parties” own a stake in the Trump family’s World Liberty Financial. The disclosure comes in the wake of reports that the United Arab Emirates purchased a 49% stake in WLF.”
“The disclosures heighten concerns about the President pushing Congress to pass crypto legislation in favor of the very industry he’s cashing in on, the Administration’s moves to exempt cryptocurrencies and service providers from existing financial services regulations, and its steps to weaken enforcement, including by disbanding the Department of Justice’s National Cryptocurrency Enforcement Team.”
“We call on our respective Committees to hold hearings to investigate the national security implications of President Trump’s cryptocurrency holdings, including the influence of the UAE or unknown third parties on President Trump’s actions,” concluded the senators.
A web version of this release is here.
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