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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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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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