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Demonstrators hold up mock cryptocurrency during the "America is Not for Sale" rally against President Donald Trump's crypto dealings at the Trump National Golf Club on May 22, 2025 in Washington, DC.
(Photo by Jemal Countess/Getty Images for Public Citizen)
'Corruption, Plain and Simple': Trump Brags About Being Soft on Crypto Industry
"The Trump family has made over $5 BILLION in corrupt crypto deals," said Rep. Greg Casar. "Now Trump is openly bragging that his government won’t investigate cryptocurrency-related crimes."
Jul 06, 2026
President Donald Trump on Monday boasted about how lax his administration has been in pursuing investigations into the cryptocurrency industry.
Speaking at the White House, Trump attacked former President Joe Biden's administration for prosecuting cryptocurrency industry figures for a wide variety of crimes related to money laundering and fraud.
"They were very violently against [the crypto industry]," Trump said. "They were putting people in jail. What they were doing to the crypto world, it was horrible. It's amazing that it survived that onslaught, it was a weaponization of government."
Trump then explained how he drew support from the industry by coming out in favor of it during the 2024 presidential campaign, adding that "every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'"
Trump: "Every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'" pic.twitter.com/7Jgg0ffgq7
— Aaron Rupar (@atrupar) July 6, 2026
During his second term, Trump has not only taken a hands-off approach to the crypto industry, but also pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance, who pleaded guilty to money-laundering charges in 2023.
This pardon drew allegations of corruption given that Binance has been a major financial booster of World Liberty Financial, the crypto venture backed by the Trump family that has added billions of dollars to their total wealth.
Even as Trump has personally raked in money from selling his own memecoin, many of his supporters who invested in it have lost significant sums of money.
A Sunday report in The New York Times revealed that nearly 1 million people who invested in the Trump memecoin have recorded losses totaling $3.8 billion since its launch in 2025.
As the Times noted, "Trump profited whether the price of his memecoin went up or down" because he "collected returns whenever anyone traded the tokens, as he repeatedly pushed his followers to do, using his Truth Social account to promote the coin."
Rep. Greg Casar (D-Texas), chair of the Congressional Progressive Caucus, ripped the president for openly boasting about going easy on the industry that he's personally profiting from.
"The Trump family has made over $5 BILLION in corrupt crypto deals," Casar wrote in a social media post. "Now Trump is openly bragging that his government won’t investigate cryptocurrency-related crimes. Corruption, plain and simple."
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President Donald Trump on Monday boasted about how lax his administration has been in pursuing investigations into the cryptocurrency industry.
Speaking at the White House, Trump attacked former President Joe Biden's administration for prosecuting cryptocurrency industry figures for a wide variety of crimes related to money laundering and fraud.
"They were very violently against [the crypto industry]," Trump said. "They were putting people in jail. What they were doing to the crypto world, it was horrible. It's amazing that it survived that onslaught, it was a weaponization of government."
Trump then explained how he drew support from the industry by coming out in favor of it during the 2024 presidential campaign, adding that "every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'"
Trump: "Every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'" pic.twitter.com/7Jgg0ffgq7
— Aaron Rupar (@atrupar) July 6, 2026
During his second term, Trump has not only taken a hands-off approach to the crypto industry, but also pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance, who pleaded guilty to money-laundering charges in 2023.
This pardon drew allegations of corruption given that Binance has been a major financial booster of World Liberty Financial, the crypto venture backed by the Trump family that has added billions of dollars to their total wealth.
Even as Trump has personally raked in money from selling his own memecoin, many of his supporters who invested in it have lost significant sums of money.
A Sunday report in The New York Times revealed that nearly 1 million people who invested in the Trump memecoin have recorded losses totaling $3.8 billion since its launch in 2025.
As the Times noted, "Trump profited whether the price of his memecoin went up or down" because he "collected returns whenever anyone traded the tokens, as he repeatedly pushed his followers to do, using his Truth Social account to promote the coin."
Rep. Greg Casar (D-Texas), chair of the Congressional Progressive Caucus, ripped the president for openly boasting about going easy on the industry that he's personally profiting from.
"The Trump family has made over $5 BILLION in corrupt crypto deals," Casar wrote in a social media post. "Now Trump is openly bragging that his government won’t investigate cryptocurrency-related crimes. Corruption, plain and simple."
President Donald Trump on Monday boasted about how lax his administration has been in pursuing investigations into the cryptocurrency industry.
Speaking at the White House, Trump attacked former President Joe Biden's administration for prosecuting cryptocurrency industry figures for a wide variety of crimes related to money laundering and fraud.
"They were very violently against [the crypto industry]," Trump said. "They were putting people in jail. What they were doing to the crypto world, it was horrible. It's amazing that it survived that onslaught, it was a weaponization of government."
Trump then explained how he drew support from the industry by coming out in favor of it during the 2024 presidential campaign, adding that "every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'"
Trump: "Every time I see a crypto guy where they dropped an investigation, I said, 'You're lucky I'm president.'" pic.twitter.com/7Jgg0ffgq7
— Aaron Rupar (@atrupar) July 6, 2026
During his second term, Trump has not only taken a hands-off approach to the crypto industry, but also pardoned Changpeng Zhao, the founder of cryptocurrency exchange Binance, who pleaded guilty to money-laundering charges in 2023.
This pardon drew allegations of corruption given that Binance has been a major financial booster of World Liberty Financial, the crypto venture backed by the Trump family that has added billions of dollars to their total wealth.
Even as Trump has personally raked in money from selling his own memecoin, many of his supporters who invested in it have lost significant sums of money.
A Sunday report in The New York Times revealed that nearly 1 million people who invested in the Trump memecoin have recorded losses totaling $3.8 billion since its launch in 2025.
As the Times noted, "Trump profited whether the price of his memecoin went up or down" because he "collected returns whenever anyone traded the tokens, as he repeatedly pushed his followers to do, using his Truth Social account to promote the coin."
Rep. Greg Casar (D-Texas), chair of the Congressional Progressive Caucus, ripped the president for openly boasting about going easy on the industry that he's personally profiting from.
"The Trump family has made over $5 BILLION in corrupt crypto deals," Casar wrote in a social media post. "Now Trump is openly bragging that his government won’t investigate cryptocurrency-related crimes. Corruption, plain and simple."
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