House Democrats allege Trump made $800M from crypto ventures!

Key Takeaways

How much has Trump allegedly made from cryptocurrency ventures?

According to a House Judiciary Committee Democrats staff report, the Trump family earned over $800 million from crypto sales in the first half of 2025 alone.

What enforcement actions were dropped against Trump crypto investors?

The report alleges the SEC dismissed or paused investigations into at least nine companies that donated to Trump or invested in his ventures.

House Judiciary Committee Democrats released an explosive 27-page staff report on 24 November 2025, alleging President Trump leveraged his office to build a crypto fortune while systematically dismantling enforcement against his investors and donors.

The report, titled “Trump, Crypto, and a New Age of Corruption,” claims Trump’s crypto holdings now exceed “any single real estate asset in his portfolio” and describes what one expert called “the most open corruption in any modern government anywhere.”

The three ventures

World Liberty Financial emerged as Trump’s flagship crypto operation in September 2024, selling $WLFI governance tokens that generated $550 million across two offerings. 

The company also launched USD1, a stablecoin that grew to a $2.7 billion market cap. Trump declared $57.3 million in personal income from WLF in his 2024 financial disclosure.

The $TRUMP memecoin launched 17 January 2025, just three days before inauguration, with Trump controlling roughly 80% of supply. The token peaked at $75 before crashing 67% within a week. 

While 45 wallets cleared $1.2 billion in profits, over 700,000 wallets collectively lost $4.3 billion, according to the report.

Trump Media separately announced a $2.5 billion “bitcoin treasury” and purchased approximately $2 billion in bitcoin-related assets.

The pay-to-play pattern

Democrats allege a clear quid pro quo: invest in Trump crypto, receive regulatory relief.

Ripple donated $4.9 million to Trump’s inauguration—the second-largest contribution. In August 2025, the SEC resolved its enforcement action against the company. When Trump announced Ripple’s inclusion in a federal crypto reserve, the token’s value surged 33%.

Crypto.com partnered with Trump Media on 24 March. Three days later, the SEC dropped its investigation.

Justin Sun, founder of Tron, a cryptocurrency exchange described as a haven for “illicit crypto activity”, invested $75 million in $WLFI after Trump’s election victory. The SEC paused its fraud case against Sun in February 2025.

Foreign influence concerns

The report raises alarm about foreign investments, particularly from Chinese and UAE-linked entities.

Aqua 1 Foundation, an obscure UAE-based fund, announced a $100 million $WLFI purchase in June 2025. Congressional staff were unable to verify the company’s legal existence in Emirati records. 

The fund’s co-founders include Guren “Bobby” Zhou, who is currently under investigation in Britain for money laundering, and David Li, who appears to be connected to China National Petroleum Corporation, a Chinese state-owned enterprise.

MGX, a UAE sovereign wealth fund controlled by Sheikh Tahnoon bin Zayed Al Nahyan, invested $2 billion in Binance using World Liberty’s USD1 stablecoin. 

The deal occurred as the UAE negotiated with the White House for access to advanced American AI chips.

Trump subsequently fired six National Security Council officials who opposed the chip deal over concerns about technology diversion to China.

Democrats argue this violates the Foreign Emoluments Clause, which forbids the President from accepting payments from foreign governments.

Dismantling enforcement

Beyond dropping individual cases, the Trump Administration systematically weakened crypto oversight:

• DOJ disbanded the National Cryptocurrency Enforcement Team in April 2025
• SEC issued guidance stating memecoins aren’t subject to securities laws—weeks after Trump launched his memecoin
• Treasury lifted sanctions on Tornado Cash, a cryptocurrency mixer used by North Korean hackers
• Trump pardoned Binance founder CZ Zhao in October, who had pleaded guilty to money laundering in 2023

The report notes Binance secretly helped write the code powering USD1 and created PancakeSwap, a marketplace promoting World Liberty tokens.

The Zhao pardon

Perhaps most brazen: On 23 October, Trump pardoned CZ Zhao, who pleaded guilty to money laundering as part of Binance’s $4.3 billion settlement with DOJ. Zhao and Binance spent months boosting World Liberty Financial before the pardon.

One expert quoted in the report stated: “I have never seen such open corruption in any modern government anywhere.”

Public awareness gap

Despite the massive sums involved, the report notes 60% of Americans haven’t heard about Trump’s family crypto business. 

Nearly half of Trump voters believe he hasn’t profited from the presidency, while a third think he’s made less than $100 million.

The report concludes: “President Trump has exploited a permissive alcove of our financial system to enrich himself and to harm the country. He has deliberately weakened the federal agencies that track terrorist financing, prevent human trafficking, and protect Americans against frauds and scams.”