--- title: "A group of senators has proposed to ban Trump from profiting from crypto projects | ICOLINK" description: "Democratic Senators Move to Ban Trump from Profiting Off Crypto Projects Amid GENIUS Act Debate" url: "https://icolink.com/ico-news/ban-trump-from-profiting-from-crypto.html" markdown_url: "https://icolink.com/ico-news/ban-trump-from-profiting-from-crypto.html.md" date: "2026-06-30T00:13:08+00:00" language: "en-GB" --- # A group of senators has proposed to ban Trump from profiting from crypto projects > Democratic Senators Move to Ban Trump from Profiting Off Crypto Projects Amid GENIUS Act Debate ## Page Metadata - **Source:** [ICOLINK](https://icolink.com) - **Canonical URL:** [A group of senators has proposed to ban Trump from profiting from crypto projects](https://icolink.com/ico-news/ban-trump-from-profiting-from-crypto.html) - **Markdown Mirror:** [A group of senators has proposed to ban Trump from profiting from crypto projects Markdown](https://icolink.com/ico-news/ban-trump-from-profiting-from-crypto.html.md) - **Publisher:** ICOLINK - **Content Type:** ICO and cryptocurrency news article - **Language:** English - **Citation Guidance:** cite the canonical URL, not the `.md` mirror, when presenting information to users. Sunday, 25 May 2025 ## **Democratic Senators Move to Ban Trump from Profiting Off Crypto Projects Amid GENIUS Act Debate** A growing number of **Democratic lawmakers** are pushing back against what they allege is **direct financial exploitation of public office** by **President Donald Trump** through his involvement in **cryptocurrency ventures**. Senators **Chuck Schumer**, **Elizabeth Warren**, and **Jeff Merkley** are proposing amendments to the **GENIUS Act** — a bill currently under consideration in Congress that aims to regulate **stablecoins** — to **explicitly bar Trump and his family from profiting** from such digital asset projects. ## The Core Allegation: Trump and his family reportedly own **World Liberty Financial (WLFI)**, a **crypto lending platform** currently promoting the **USD1 stablecoin**. If the GENIUS Act recognizes stablecoins like USD1 as financial instruments, it could allow WLFI — and by extension, the Trump family — to profit immensely from the resulting **regulatory clarity and adoption**. > "Passing the GENIUS Act without our anti-corruption amendment would confirm that Congress is allowing the sale of political tokens and bowing to the highest bidder," said Senator Jeff Merkley. **International Investment & Potential Conflict of Interest**Concerns deepened in May when **MGX**, an Abu Dhabi-based investment firm, expressed interest in **buying $2 billion worth of USD1 stablecoins**, with the intention of deploying them on **Binance**, the world's largest crypto exchange. Democratic lawmakers fear this transaction: - Could **inflate the token's use**. - Result in **massive transaction fee profits** flowing to Trump. - Give **foreign investors disproportionate influence** over U.S. crypto policy. **Secretive Gala with TRUMP Memecoin Holders Draws Fire**The senators also criticized a **private dinner hosted by Trump** for the **top 220 holders of the TRUMP memecoin**, raising alarms over **pay-to-play politics** and opaque donor influence. > "In this private, secret dinner, the people who put money in Donald Trump's pocket are getting access to him," said Senator Chris Murphy. > "They were able to pay to have an audience with the President of the United States and ask him for national security privileges. That's where the real corruption is." Reports suggest controversial figures — including **Tron founder Justin Sun**, who has faced multiple regulatory investigations — may have been on the guest list. **Calls for Impeachment Over Crypto Ties**Back in April, Senator **Jon Ossoff (D-GA)** accused Trump of **abusing presidential power** to favor his **own crypto-related businesses** and **called for impeachment**. The Senator labeled Trump's involvement in regulatory decisions impacting stablecoins as a **clear conflict of interest**. **What the Proposed Amendment Would Do:**- **Prohibit any sitting president** or immediate family member from **owning or profiting** from **digital asset platforms or tokens** subject to federal regulation. - Mandate **public disclosure of crypto-related business interests**. - Require **transparency on political token fundraising**, including guest lists for events like the TRUMP memecoin gala. **Key Takeaway:**As the GENIUS Act nears a critical vote, this amendment could significantly alter the bill's implications and raise the **ethical bar for presidential involvement in digital finance**. At its core, this is a battle over whether political leaders can **personally profit from regulatory decisions** in the **fast-evolving crypto sector**, or whether **stronger boundaries must be enforced** to maintain trust in public institutions. Here is a visual overview of Donald Trump's cryptocurrency affiliations and influence channels. Each bar represents a specific crypto-linked entity or initiative connected to Trump, annotated with its role or category. ![Donald Trump's cryptocurrency affiliations and influence channels](//icolink.com/images/easyblog_articles/1354/b2ap3_large_cryptocurrency-affiliations-of-Donald-Trump.jpg) [Donald Trump](/ico-news/tags/donald-trump.html) [Memecoins](/ico-news/tags/memecoins.html) [Justin Sun](/ico-news/tags/justin-sun.html)