House Democrats Demand Treasury Probe into Trump’s Crypto Ventures Amid Fears of Fundraising Misuse and Foreign Influence
Washington, D.C. — A political firestorm is brewing in the U.S. capital as top House Democrats demand a formal investigation into Donald Trump’s crypto ventures, raising red flags over potential misuse of political fundraising and possible foreign influence operations.
On Wednesday, Democratic Reps. Gerald Connolly (D-Va.), Joe Morelle (D-N.Y.), and Jamie Raskin (D-Md.) sent a letter to Treasury Secretary Scott Bessent, urging the Financial Crimes Enforcement Network (FinCEN) to release Suspicious Activity Reports (SARs) related to Trump’s blockchain project World Liberty Financial and the controversial $TRUMP memecoin.
Why Trump’s Crypto Empire Is Under Fire
The inquiry comes amid growing concerns that Trump and his allies may be abusing their political platforms to enrich themselves through cryptocurrency schemes. The memecoin $TRUMP, launched shortly before his 2025 inauguration, has raised serious questions about its origin, funding sources, and legal compliance.
“We’re investigating whether campaign finance laws, bribery statutes, and securities regulations have been violated,” said Rep. Raskin. “Congress has a responsibility to ensure that crypto isn’t being used as a tool for corruption.”
Democrats also cited potential foreign influence, suggesting that international backers may be covertly using blockchain donations to gain political favor.
What’s at Stake for Trump and Crypto?
This unprecedented request for Treasury SARs could:
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Expose crypto-based fundraising misconduct
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Trigger SEC and FEC investigations into securities fraud and deceptive fundraising
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Impact the future of political crypto regulation in the U.S.
In addition to Trump’s ventures, the inquiry targets Elon Musk’s America PAC, which may be using Trump’s name to attract donations under false or misleading pretenses.
The Bigger Picture: Crypto, Politics & Regulation Collide
This escalation highlights a broader battle over how cryptocurrency intersects with U.S. politics and campaign financing. Just last week, Senate Democrats blocked a stablecoin bill, citing Trump’s memecoin as a prime example of why stricter oversight is urgently needed.
With crypto playing a growing role in political campaigns, lawmakers are now debating whether new legislation is needed to prevent misuse, protect voters, and block foreign interference.
Have Your Say!
Do you think Trump’s crypto ventures cross the line?
Should crypto fundraising be more tightly regulated for political campaigns?
💬 Share your opinion below — your voice matters in this historic moment for crypto and democracy.
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