Trump’s Cryptocurrency Ventures Spark Conflict of Interest Row

Spread love

Controversy Erupts Over President Trump’s Cryptocurrency Ventures Amid Conflict of Interest Concerns

By TRH News Desk

NEW DELHI, May 23, 2025 – U.S. President Donald Trump faces mounting criticism over his family’s cryptocurrency ventures, with ethics experts and lawmakers accusing him of profiting from his office through potential conflicts of interest.

The controversy centers on Trump’s push to position the U.S. as the “crypto capital of the planet” while his family’s businesses, including World Liberty Financial and the $TRUMP meme coin, amass significant profits.

The Trump family’s crypto empire includes World Liberty Financial, which has raised over $550 million through its $WLFI governance token, and the $TRUMP meme coin, launched before Trump’s January 20, 2025, inauguration. Reuters reports that entities tied to the Trump Organization hold an 80% stake in $TRUMP, generating $349 million in trading fees by April 2025. A contest offering a private dinner with Trump at his Washington, D.C., golf club for the top 220 $TRUMP holders—many of whom are foreign investors—has intensified scrutiny.

Senator Chris Murphy (D-Conn.) has been a vocal critic, alleging on CNN that Trump’s crypto ventures constitute a clear conflict of interest. “Raising funds for an election campaign is one thing, but making money as president through these ventures is entirely different,” Murphy said. On X, he posted on May 14, 2025, “A foreign government is investing $2 billion in Trump’s coin to get favorable treatment from the Administration. A wild corruption.”

Ethics watchdogs echo these concerns. Larry Noble, former general counsel at the Federal Election Commission, told The Guardian, “Most people with any regard for ethical principles would find Trump’s launching a cryptocurrency token as he is about to be inaugurated as president outrageous.” Noble warned that the anonymity of crypto transactions could allow “U.S. businesses and foreign actors to enrich Trump by buying his token in exchange for favorable treatment.”

Bloomberg investigative reporter Zeke Faux, speaking on NPR’s Fresh Air, emphasized the unprecedented nature of a sitting president running a crypto business. “It’s highly unlikely that Trump’s SEC appointees would enact rules that harm his meme coin,” Faux noted, pointing out that Trump’s appointees at the Securities and Exchange Commission (SEC) are shaping crypto regulations while he profits from the industry.

On X, Senator Elizabeth Warren (@SenWarren) posted on May 12, 2025, “Trump’s crypto corruption is so blatant that even the @WSJ

Editorial Board agrees it’s a ‘conflict of interest in selling access to the President.’ Congress must halt crypto legislation until this is addressed.”

Former Labor Secretary Robert Reich (@RBReich) added on May 11, 2025, “Trump’s crypto venture is fleecing supporters. Eighty percent of new or small-time investors in his coin have faced big losses, while his team rakes in millions from trading fees.”

The New Yorker reported that the $TRUMP coin, which peaked at $75.35 before the inauguration, surged 70% after the dinner contest announcement, reaching a $2.4 billion market cap. However, its volatility has left many small investors with losses, while Trump’s team benefits from stable trading fees. Cornell economics professor Eswar Prasad told The Guardian, “Trump’s crypto ventures reflect his grifting tendencies and disregard for regulation.” He also criticized Trump’s proposed U.S. bitcoin reserve, warning it could expose the government to significant financial risks.

The administration’s crypto-friendly policies, including dropping SEC investigations into firms like Coinbase and Binance, have fueled concerns. The New York Times reported on May 6, 2025, that some Democrats who once supported stablecoin legislation now demand stricter anti-fraud measures in response to Trump’s ventures. CNN quoted Jordan Libowitz of Citizens for Responsibility and Ethics in Washington, who said, “A $20 million crypto purchase could buy influence on an unprecedented scale.”

On X, ethics expert Norm Eisen (@NormEisen) posted on May 5, 2025, “Trump cashing in on his own crypto coin isn’t just an offense to decency—it’s a pipeline for foreign influence.” The White House insists that Trump’s businesses are managed by his children through a trust, with William A. Burck as ethics advisor. Critics, however, argue this arrangement fails to address conflicts, as Trump’s policies directly impact the crypto market.

As the controversy grows, lawmakers and experts urge Congress to address these ethical concerns before advancing crypto legislation, warning that Trump’s ventures could undermine the integrity of U.S. financial systems.

Follow The Raisina Hills on WhatsApp, Instagram, YouTube, Facebook, and LinkedIn