House Democrats accuse Trump Media & Technology Group Corp. (NASDAQ:DJT) of turning the White House into an engine for an $800 million crypto windfall in 2025, according to a new partisan report.
Report Claims Crypto Ventures Boosted Family Wealth
The report, signed by Representative Jamie Raskin (D-MD), alleges that President Trump doubled his net worth since launching his 2024 campaign by expanding a network of cryptocurrency-linked businesses and token offerings.
Citing earlier investigations from Reuters, the document claims the Trump family generated $800 million from token sales in H1 2025 and now holds roughly $11 billion across digital assets and equities.
Democrats argue that these ventures involved extensive foreign participation, pointing to investors connected to overseas jurisdictions and controversial industry figures.
Foreign Influence And Regulatory Pressure Highlighted In Findings
One section of the report alleges that foreign participants, including prominent cryptocurrency investors—used token purchases to gain influence within the administration.
The report highlights Justin Sun as an investor whose involvement raises regulatory concerns.
It also mislabels Tron (CRYPTO: TRX), incorrectly describing it as a crypto exchange instead of a blockchain network.
The committee also claims that favorable policy decisions benefited major digital asset companies.
These include pardons issued earlier in the year for BitMEX co-founder Arthur Hayes in March and Binance founder Changpeng Zhao in October.
The report asserts that federal investigations involving Coinbase Global Inc. (NASDAQ:COIN), Gemini Trust, Crypto.com, Kraken, Robinhood Markets Inc. (NASDAQ:HOOD), Yuga Labs and Ripple Labs were either halted or deprioritized.
Termination Of Enforcement Team Draws Additional Scrutiny
The report asserts that the administration dissolved the DOJ's cryptocurrency enforcement team during its first year.
It also claims the President repealed the Ensuring Responsible Development of Digital Assets executive order introduced under former President Biden.
Committee members argue these shifts weakened investor protections and enabled rapid expansion of Trump-linked digital asset ventures.
Raskin described the situation as "the world's most corrupt crypto startup operation," reinforcing Democrats' concerns about pay-to-play dynamics.
He argued that such conditions undermined long-standing federal ethics standards.
Lawmakers Request Treasury Reports On Trump-Linked Tokens
A separate letter from Representatives Connolly, Morelle and Raskin was sent to Treasury Secretary Scott Bessent.
The lawmakers requested suspicious activity reports connected to the OFFICIAL TRUMP (CRYPTO: TRUMP) token and World Liberty Financial platform's WLFI (CRYPTO: WLFI).
They say the documents are necessary to evaluate potential conflicts of interest and related compliance issues.
Advocacy groups echoed similar concerns.
Public Citizen's Bartlett Collins Naylor described the situation as "the greatest corruption in presidential history."
He urged Congress to restrict cryptocurrency trading and token creation by elected officials, citing significant ethical risks.
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