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Sen. Elizabeth Warren (D-Mass.) asks questions during a Senate hearing on February 5, 2026.
(Photo by Nathan Posner/Anadolu via Getty Images)
Warren Warns Bipartisan Bill Would 'Turbocharge Donald Trump's Crypto Corruption'
"In just one year in office, the president and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that."
May 12, 2026
US Sen. Elizabeth Warren warned Monday that bipartisan cryptocurrency legislation set to come before a key committee later this week would do nothing to rein in brazen profiteering by President Donald Trump and his family.
“This bill puts investors, our national security, and our entire financial system at risk—and it will turbocharge Donald Trump’s crypto corruption," Warren (D-Mass.), the top Democrat on the Senate Banking Committee, said following the release of legislative text for the Digital Asset Market Clarity Act. "In just one year in office, the president and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that."
"The American people are watching," Warren added. "No member of the committee should support a bill that fails to stop the massive conflict of interests posed by Donald Trump and his family’s crypto ventures."
The Trump family's foray into digital assets and creation of what one outlet called a "global crypto cash machine" is largely responsible for the explosion of the president's net worth since the start of his second White House term. "In one form or another, crypto accounted for $3.02 billion of the president’s profits from August 2025 to January 2026," MS NOW reported earlier this month.
Warren and other Senate Democrats are pushing for the inclusion of ethics language that would limit government officials' ability to profit off digital assets, but a closed-door meeting on Tuesday ended without an agreement. Senators on the Banking Committee are set to meet Thursday to mark up the crypto measure, which supporters have billed as "comprehensive market structure legislation that establishes a clear regulatory framework for digital assets."
"This bill is the product of more than ten months of bipartisan negotiations and extensive engagement with regulators, law enforcement, academics, and industry," the Senate Banking Committee's Republican majority said in a statement Tuesday.
Last week, the consumer advocacy group Public Citizen demanded in a letter to members of the banking panel that the bill "include prohibitions on federally elected officials, including the president, from engaging in any cryptocurrency venture." The group called on lawmakers to insert a ban on "any form of crypto issuance, ownership, sponsorship, promotion, endorsement, and/or profiteering by a federally elected official" and a divestiture requirement for officials with existing crypto holdings.
Public Citizen also urged lawmakers to "penalize crypto quid pro quo" by requiring fines or prison time for "any federally elected official, including the president, who, directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept anything of value personally, including crypto-related transactions."
"President Trump’s expansive ventures into crypto already violate several existing laws," Public Citizen said. "Approving a bill that fails to confront these violations would explicitly declare that lawmakers countenance such infractions."
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This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
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US Sen. Elizabeth Warren warned Monday that bipartisan cryptocurrency legislation set to come before a key committee later this week would do nothing to rein in brazen profiteering by President Donald Trump and his family.
“This bill puts investors, our national security, and our entire financial system at risk—and it will turbocharge Donald Trump’s crypto corruption," Warren (D-Mass.), the top Democrat on the Senate Banking Committee, said following the release of legislative text for the Digital Asset Market Clarity Act. "In just one year in office, the president and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that."
"The American people are watching," Warren added. "No member of the committee should support a bill that fails to stop the massive conflict of interests posed by Donald Trump and his family’s crypto ventures."
The Trump family's foray into digital assets and creation of what one outlet called a "global crypto cash machine" is largely responsible for the explosion of the president's net worth since the start of his second White House term. "In one form or another, crypto accounted for $3.02 billion of the president’s profits from August 2025 to January 2026," MS NOW reported earlier this month.
Warren and other Senate Democrats are pushing for the inclusion of ethics language that would limit government officials' ability to profit off digital assets, but a closed-door meeting on Tuesday ended without an agreement. Senators on the Banking Committee are set to meet Thursday to mark up the crypto measure, which supporters have billed as "comprehensive market structure legislation that establishes a clear regulatory framework for digital assets."
"This bill is the product of more than ten months of bipartisan negotiations and extensive engagement with regulators, law enforcement, academics, and industry," the Senate Banking Committee's Republican majority said in a statement Tuesday.
Last week, the consumer advocacy group Public Citizen demanded in a letter to members of the banking panel that the bill "include prohibitions on federally elected officials, including the president, from engaging in any cryptocurrency venture." The group called on lawmakers to insert a ban on "any form of crypto issuance, ownership, sponsorship, promotion, endorsement, and/or profiteering by a federally elected official" and a divestiture requirement for officials with existing crypto holdings.
Public Citizen also urged lawmakers to "penalize crypto quid pro quo" by requiring fines or prison time for "any federally elected official, including the president, who, directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept anything of value personally, including crypto-related transactions."
"President Trump’s expansive ventures into crypto already violate several existing laws," Public Citizen said. "Approving a bill that fails to confront these violations would explicitly declare that lawmakers countenance such infractions."
US Sen. Elizabeth Warren warned Monday that bipartisan cryptocurrency legislation set to come before a key committee later this week would do nothing to rein in brazen profiteering by President Donald Trump and his family.
“This bill puts investors, our national security, and our entire financial system at risk—and it will turbocharge Donald Trump’s crypto corruption," Warren (D-Mass.), the top Democrat on the Senate Banking Committee, said following the release of legislative text for the Digital Asset Market Clarity Act. "In just one year in office, the president and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that."
"The American people are watching," Warren added. "No member of the committee should support a bill that fails to stop the massive conflict of interests posed by Donald Trump and his family’s crypto ventures."
The Trump family's foray into digital assets and creation of what one outlet called a "global crypto cash machine" is largely responsible for the explosion of the president's net worth since the start of his second White House term. "In one form or another, crypto accounted for $3.02 billion of the president’s profits from August 2025 to January 2026," MS NOW reported earlier this month.
Warren and other Senate Democrats are pushing for the inclusion of ethics language that would limit government officials' ability to profit off digital assets, but a closed-door meeting on Tuesday ended without an agreement. Senators on the Banking Committee are set to meet Thursday to mark up the crypto measure, which supporters have billed as "comprehensive market structure legislation that establishes a clear regulatory framework for digital assets."
"This bill is the product of more than ten months of bipartisan negotiations and extensive engagement with regulators, law enforcement, academics, and industry," the Senate Banking Committee's Republican majority said in a statement Tuesday.
Last week, the consumer advocacy group Public Citizen demanded in a letter to members of the banking panel that the bill "include prohibitions on federally elected officials, including the president, from engaging in any cryptocurrency venture." The group called on lawmakers to insert a ban on "any form of crypto issuance, ownership, sponsorship, promotion, endorsement, and/or profiteering by a federally elected official" and a divestiture requirement for officials with existing crypto holdings.
Public Citizen also urged lawmakers to "penalize crypto quid pro quo" by requiring fines or prison time for "any federally elected official, including the president, who, directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept anything of value personally, including crypto-related transactions."
"President Trump’s expansive ventures into crypto already violate several existing laws," Public Citizen said. "Approving a bill that fails to confront these violations would explicitly declare that lawmakers countenance such infractions."
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