Raskin: Report Accuses Trump of Turning White House into a Crypto Profit Machine
Rep. Jamie Raskin released a 78-page staff report alleging that President Donald Trump and his family used the Oval Office to advance and profit from a network of crypto ventures in 2025. The report, titled “Trump, Crypto, and a New Age of Corruption,” claims the family amassed up to $11.6 billion in crypto assets and generated more than $800 million from token sales in the first half of 2025. It names projects including World Liberty Financial and the $TRUMP memecoin and alleges foreign governments, state-linked investors and aligned corporations funneled money into Trump-branded tokens in exchange for regulatory favors, pardons, or halted investigations. The report also accuses the administration of dismantling financial safeguards — notably dissolving DOJ’s National Cryptocurrency Enforcement Team and rolling back investor-protection rules — while pardoning or easing penalties for crypto-linked fraudsters. Raskin calls for sweeping congressional reforms to restore ethics, transparency and conflict-of-interest protections. The White House and press secretary Karoline Leavitt maintain the family business is separate from official duties. Key keywords: Trump crypto, token sales, regulatory rollbacks, World Liberty Financial, $TRUMP, conflict of interest.
Bearish
The report alleges large-scale corruption tied to Trump-branded crypto projects, regulatory rollbacks, and pardons for crypto-linked actors. Such political and regulatory risk typically increases market uncertainty and can depress risk-on assets like memecoins and politically tied tokens. Specific tokens named (e.g., $TRUMP, World Liberty Financial-related tokens) may see immediate volatility and sell pressure as investors reassess legal and compliance exposure. Broader impacts: short-term — heightened volatility, liquidity withdrawals from implicated projects, negative sentiment across altcoins and branded tokens; spot BTC/ETH may see minor weakness as risk appetite falls, but core large-cap tokens usually recover faster. Long-term — if reforms are enacted to tighten enforcement, the market could benefit from clearer rules (positive for institutional flows); if investigations and sanctions expand, sustained reputational damage and regulatory constraints could reduce speculative capital, keeping downside pressure on smaller tokens. Historical parallels: regulatory crackdowns and political scandals (e.g., 2018 ICO crackdown, 2022 FTX collapse) produced sharp short-term market drawdowns, targeted token collapses, and longer recovery for major liquid assets. Traders should reduce exposure to implicated tokens, tighten risk management, and watch for enforcement headlines or legislative responses that could flip sentiment.