Overview
- The House Judiciary Committee Democrats released a partisan staff report led by Rep. Jamie Raskin calling the Oval Office “the world’s most corrupt crypto startup operation” and alleging presidential self-enrichment via crypto ventures.
- The report cites about $800 million in token-sale proceeds in the first half of 2025 and estimates family holdings near $11 billion, drawing on prior investigations by Reuters and the Financial Times.
- Democrats say administration moves weakened oversight, citing the dissolution of the DOJ’s National Cryptocurrency Enforcement Team, pardons for Arthur Hayes in March and Changpeng Zhao in October, and paused or terminated probes into firms including Coinbase, Gemini, Ripple, Crypto.com, Kraken, Robinhood, Uniswap and Yuga Labs.
- The document highlights foreign-linked participation in Trump-associated projects such as World Liberty Financial and the OFFICIAL TRUMP token, naming Justin Sun as a prominent example that raises compliance concerns.
- Reps. Gerald Connolly, Joe Morelle and Raskin requested Treasury suspicious-activity reports on the OFFICIAL TRUMP and WLFI tokens, while the White House says the family business operates separately and advocacy groups urge stricter ethics limits on officials’ crypto activity.