The deep ties of the president of the United States with the cryptographic world, and the direct financial interests of his family have triggered a reaction from the Senate and ethics research. What caused this eruption? A $ 2 billion agreement between a cryptographic firm affiliated with Trump and an Emirati fund backed by the State? The launch of a Trump brand stablecoin? Do Trump and Melania’s meme coins? Or a series of high -dollar fund collectors who erased the lines between public office and private benefit?
“It is a sale of influence, a conflict of interest, only a massive form of corruption that we witness,” said Senator Jeff Merkley, Oregon’s Democrat, according to a NYT post May 5, 2025 “and must end.”
In addition, pay attention to X to express your concerns about Trump cryptography movements. “This is a conflict of internship interest: a president who sells access and enriching himself,” said Merkley. “American senator Elizabeth Warren And I am demanding Andwers in the agreement of one billion dollars between a cryptographic company backed by Trump and a foreign cryptographic firm. “
.@Senwarren And I am demanding Andwers in the agreement of one billion dollars between a cryptographic company backed by Trump and a foreign cryptographic firm.
This is an amazing conflict of interest: a president who sells access and enriches himself.
– Senator Jeff Merkley (@senffmerkley) May 5, 2025
Meanwhile, according to Warren, the Senate legislation will facilitate the president and his family to align his own pockets. “Warren said,” this is corruption and no senator should support it. “
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The $ 2 billion crypto agreement increases red flags
Last week, the Senate Democrats sounded the alarm on a end of great success: World Liberty Financial (WLF), a cryptographic company closely linked to the Trump family, obtained a deposit of $ 2 billion MGX, an investment fund backed by the ABU Dhabi. The agreement, announced at a Dubai conference by Zach Witkoff-Co-Funder of WLF and son of the sending of Middle East of Trump, see MGX USE USD1 Stablecoin of WLF to transact Binance, the wide cryptographic exchange of the world.
The controversy has overturned the route once softer from the genius of the law, a bipartisan bill designed to create a regulatory framework for established maids linked to the US dollar. However, the Democrats now demand radical changes, citing the concerns that the legislation that threatens the unprotected benefit of cryptocurrencies of the Trump family.
“The bill, as it is, still has numerous problems that must be addressed, including the addition of strong A group of nine Democrats, including four who voted to advance in the legislation of the Senate Banking Committee. “While we are eager to work continuously with our cockleages to address these problems, we could not vote for the sewage if the current version of the bill reaches the floor. “
“Stablecoin legislation must be approved in a bipartisan base,” says the White House
Meanwhile, Anna Kelly, a White House spokeswoman, said Trump had no conflict because her assets were in a trust -administered trust. “Stablecoin’s legislation should be approved in a bipartisan base,” he said.
“President Trump is dedicated to converting the United States into the capital of cryptocurrencies and revolutionizing our digital financial technology,” he added.
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Key control
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Despite the concerns about Trump’s cryptography movements, the Government Ethics Office has limited power to enforce the divestment or prosecute a acting president, and with both of them congresses and whites under republican control, Democrats.
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The reaction is not limited to the Democrats. Even some republicans of the Senate and the cryptographic defenders of a lifetime have expressed concern about the aggressive monetization of the presidency of the Trump family through cryptography.
The growing cryptographic empire after Trump triggers a violent reaction: will the legislation of the genius be approved? It appeared first in 99bitcoins.