Trump turned the White House into a crypto ATM: Raskin

Democrats on the House Judiciary Committee are accusing President Donald Trump of turning the presidency into a personal crypto profit machine.

Trump and his family have used the Oval Office as a launching pad for a sprawling network of cryptocurrency ventures, inflating their net worth by billions of dollars while unleashing safeguards meant to protect everyday investors, according to a shocking new staff report released by the committee’s ranking member, Rep. Jamie Raskin.

The survey results, which are a mashup of silicon valley and house of cardsThe report claims that the Trump family amassed $11.6 billion in crypto assets in the first half of 2025 alone, reaping more than $800 million in income from token sales.

Mr. Raskin did not mince words in his report.

“Donald Trump has turned the Oval Office into the world’s most corrupt crypto startup operation, minting a staggering personal fortune for himself and his family in less than a year. During that time, Trump has pardoned criminals who committed fraud using cryptocurrencies and dismantled regulations that protect legitimate American investors. We still don’t know where all the money came from, but Rika has never seen corruption on this scale happening inside the White House. This report shows how President Trump is doing it.” The so-called “pro-crypto policy” is just another Trump family self-enrichment scheme built on pay-to-play deals and corrupt foreign interests seeking covert channels of access and influence. Congress must expose this dangerous gap and protect the rule of law from profiteers and criminals who seek to destroy it. ”

You may also like: The most influential voices in the MENA region will tackle the 12,000-attendee Bitcoin MENA event this December.

The 78-page report, titled “Trump, Cryptocurrency, and the New Era of Corruption,” alleges that foreign governments, state-linked investors, and politically aligned companies poured money into Trump-branded crypto ventures, including World Liberty Financial and the $TRUMP meme coin.

In return, donors allegedly received preferential treatment, ranging from regulatory relief to the quiet suspension of federal investigations involving major crypto companies such as Coinbase, Gemini, Ripple, Crypto.com, and Uniswap.

The report also claims that President Trump has granted amnesty and lifted sanctions on fraudsters and criminals who provided financial support to crypto ventures. Meanwhile, the administration eliminated key financial integrity safeguards, including disbanding the Justice Department’s National Crypto Enforcement Team and repealing investor protection rules introduced under President Biden.

You may also like: Trump family’s crypto assets fall by more than $1 billion as market crashes

Democrats say the timing makes the situation even more dire.

While the Trump family reportedly amassed billions in wealth, the president and his allies in Congress were simultaneously allowing the federal government to shut down, putting health care tax credits, food stamps for women and children, and active duty military pay at risk.

Raskin warned that the findings reveal significant weaknesses in America’s conflict of interest, bribery and campaign finance laws.

Raskin argues that this was not a pro-crypto agenda. The Trump family’s “enrichment scheme” is a paid scheme for foreign interests seeking “secret channels” of influence.

The report calls on Congress to pursue fundamental reforms to restore fundamental ethics, accountability, and transparency to the president.

President Trump and White House Press Secretary Caroline Leavitt have long maintained that the Trump family’s business affairs and what happens in the Oval Office are completely separate.

read more: Cosmoverse 2025 brings together Sovereign Chains, Central Banks and Cosmos in Split to set a new standard for Web3 conferences