Senate crypto bill faces pressure to curb Trump family profits

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Senate crypto bill and ethics

Highlights

Senator Elizabeth Warren urges Senate leaders to add provisions barring U.S. officials and their families from profiting from crypto in upcoming legislation, citing Trump's 2025 public financial disclosure showing $1.4 billion in crypto-related income.
Warren references a transaction where UAE’s Sheikh Tahnoon bin Zayed acquired a 49% stake in World Liberty Financial from the Trump family pre-inauguration, generating $263 million for Trump according to recent disclosures.
The Trump family maintains a 30% stake in DT Marks Defi LLC, with over $100 million in Coinbase accounts and $590 million in 2025 income, intensifying scrutiny on the pending Senate crypto bill.

Ethics demands ahead of Senate debate

As reported by Senate Committee on Banking, Housing, and Urban Affairs Minority press releases, Warren sends a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer calling for crypto legislation that prevents top U.S. officials and their families from benefiting financially from the sector.

The Massachusetts Democrat, who is the ranking member of the Senate Banking, Housing and Urban Affairs Committee, ties the request to the Office of Government Ethics release of Trump's 2025 public financial disclosure report. She says the filing shows the president makes roughly $1.4 billion in 2025 from cryptocurrency ventures.

Warren argues Thune plans a floor vote on crypto market structure legislation this month despite what she describes as major weaknesses in the current draft. She says those concerns span national security, financial stability, consumer protection and ethics, and become more urgent after the latest financial disclosure.

Trump crypto holdings draw wider scrutiny

Warren also points to reports from earlier this year that, days before Trump's presidential inauguration, UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan signs a deal with the Trump family to buy a 49% stake in World Liberty Financial, the crypto business held by WLF Holdco LLC. She says Trump's financial disclosure indicates that transaction generates $263 million for the president.

In her letter, Warren further highlights the Trump family's 30% ownership stake in DT Marks Defi LLC, which she says includes Coinbase accounts worth more than $100 million and a 38.25% ownership interest in WLF Holdco LLC. She says DT Marks Defi LLC alone generates more than $590 million in income in 2025.

Warren contends the Senate is devoting significant time to crypto legislation even as public opinion polling suggests voters are more focused on affordability pressures. She argues that, instead of addressing those concerns, lawmakers appear to be prioritizing legislation that could further increase the Trump family's crypto-related gains.

Our earlier coverage of the Florida federal court ruling on Trump’s IRS settlement explained how a judge voided the agreement, reopening disputes over whether it was properly accepted. We noted that the decision could increase uncertainty around Trump’s tax obligations and widen his legal and financial exposure as related probes continue.

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