Trump Family Actively Engages in Crypto Market, Prompting Democratic Concerns
The Trump family has recently been quite active in the cryptocurrency market, raising suspicions among Democratic lawmakers that they may be leveraging presidential influence for familial gain. Notable anti-crypto Democratic Senator Elizabeth Warren and Congresswoman Maxine Waters co-sent a letter to SEC Acting ### Mark Uyeda, requesting access to all communication records between Trump and their project WLFI, and warning Uyeda that “the regulatory agency may have been politically interfered with.”
The incident began with the launch of Trump’s crypto project “World Liberty Financial (WLFI)” introducing its stablecoin USD1, amid rumors that USD1 could be used by the government as a payment tool, igniting regulatory controversies.
Trump’s Major Involvement in Crypto Policies from Late 2024 to Early 2025
Trump has initiated several policies and plans related to cryptocurrencies, including:
- Plans to establish a national cryptocurrency stockpile
- The launch of TrumpCoin (TRUMP)
- Expanding interactions with the family-supported crypto project WLFI
By late March 2025, WLFI is set to launch its stablecoin USD1, which will be available on the BNB Chain and Ethereum.
If integrated into the government payment system, the Trump family could benefit directly.
Democratic Opposition on April 2, 2025
On April 2, 2025, Democratic lawmakers Warren and Waters wrote to SEC Acting ### Mark Uyeda, urging the SEC to:
- Preserve all communication records related to Trump and WLFI
- Clarify whether policies have been influenced by WLFI or the Trump family’s interests
- Accuse Trump of potentially using his position to prompt the SEC to adopt a “regulatory stance favorable to his interests”
On the same day, Waters reiterated in Congress, “If the regulatory agency lacks oversight and transparency, Trump could potentially make USD1 a government payment tool for his own profit.”
Concerns Over Fair Regulation Amid Presidential Investments
Waters emphasized, “The Trump family has financial stakes in WLFI, and this conflict of interest is too obvious. The public has the right to know whether financial regulation has been infiltrated by private interests.”
There is also deep concern that if the SEC, as an independent regulatory agency, is influenced by Trump and his family’s interests, it could severely undermine market credibility and jeopardize investor rights.
Trump’s Leveraging of Influence Sparks Political Controversy in the U.S.
The Trump family’s rapid involvement in the crypto industry coincides with increasingly lenient regulatory stances, raising questions about potential political interference and self-enrichment. This incident is set to become a focal point in the future of U.S. politics and financial regulation.
Whether the SEC can truly function as an independent regulatory body free from political influences remains to be observed.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and prices can be extremely volatile. You could lose your entire principal. Please assess the risks cautiously.