Trump and crypto corruption: investigations cast a shadow over deals!

Trump and crypto corruption: investigations cast a shadow over deals!

Donald Trump is currently facing intense criticism over his dealings with the cryptocurrency industry. Critics accuse the former president of abusing his position in the White House for personal gain. In particular, the introduction of his own memecoin, $Trump, caused a stir and sparked accusations of self-enrichment calf reported.

Former federal prosecutor Paul Rosenzweig cites the United States Constitution, which prohibits self-interest among heads of state. Given the circumstances, Harvard professor Steven Levitsky expresses concern that he has never seen such open corruption in a modern government. Professor Julian Zelizer from Princeton University also jumps in and criticizes that Trump's political decisions often directly benefit his financial interests.

Political and legal consequences

Democratic members of Congress, including Senator Richard Blumenthal and Representative Jamie Raskin, have already announced investigations into Trump's crypto dealings. In particular, he is accused of using his influence to loosen regulation of cryptocurrency companies. Estimates put the value of Trump's crypto projects at around $2.9 billion. His company, World Liberty Financial, has raised more than $500 million, with about 75 percent of crypto token sales going into the hands of Trump and his family.

In a particularly controversial move, Trump hosted a gala dinner and tour of the White House for memecoin buyers, for which he netted around $148 million. The $Trump memecoin was launched just before his inauguration, which brought a rush of buyers. This private event at the White House has been heavily criticized by ethics committees and scientists.

Family businesses in the technology sector

The Trump family is not only the focus of cryptocurrency criticism, but is also increasingly making inroads into the technology sector. Donald Trump Jr. and Eric Trump recently announced their entry into the mobile phone business with “Trump Mobile” and “T1”. This happens at the same time as customs negotiations with China are important for smartphone production.

In late May 2025, more than 35,000 attendees attended the Bitcoin conference in Las Vegas, where Eric Trump and Donald Trump Jr. praised the US as a crypto superpower. The organization “State Democracy Defenders Action” estimated Donald Trump’s crypto assets at $2.9 billion. A crypto expert said the Trump family's advantage from dealings with Gulf states was extremely lucrative, even more so than a $400 million jet.

Democratic Rep. Jamie Raskin called for the gala dinner's guest list to be disclosed. Meanwhile, the US Senate is planning to vote on the “Genius Act,” which would regulate stablecoins. But critical voices from the ranks of the Democrats consider this bill to be inadequate.

The White House rejected the allegations of taking advantage and emphasized that Trump's assets are held in a trust fund. The financial transactions and the associated political entanglements raise questions about the ethical standards in holding high-ranking positions and contribute to the debate about corruption in the US political system.