US EditionDemocrats push back against Trump's growing crypto empire
- Senator Jeff Merkley and other Senate Democrats introduced the End Crypto Corruption Act on May 13, 2025, to ban presidents and lawmakers from sponsoring cryptocurrencies in Washington, D.C.
- The bill responds to concerns about the Trump family's crypto ventures, including a $2 billion Abu Dhabi-backed investment possibly violating federal ethics and bribery laws.
- Merkley and Senator Elizabeth Warren condemned a deal among World Liberty Financial, Binance, and UAE-backed MGX as a national security risk with potential conflicts of interest.
- The $TRUMP coin peaked at $2.19 billion in value by early May but dropped over 85%, while roughly 80% of its supply remains controlled by Trump affiliates, raising conflict concerns.
- The legislation aims to curb corruption linked to cryptocurrency sponsorship and could shape future federal regulation despite divisions among Democrats and ongoing crypto industry lobbying.
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Wild developments in Trump's crypto empire: Now he is accused of corruption
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·Aarhus, Denmark
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Leaning Left21Leaning Right11Center23Last UpdatedBias Distribution42% Center
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R 20%
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