Senator Elizabeth Warren is pushing to add a provision to pending Senate crypto legislation that would bar President Trump, his family, and other senior officials from profiting off the digital asset industry. The push follows a financial disclosure showing Trump's crypto ventures generated more than $1.4 billion in his first year back in office.
"The crypto legislation heading to the Senate floor must prevent the President, Vice President, senior administration officials, members of Congress, and their families from profiting off the crypto industry," Warren, the top Democrat on the Senate Banking Committee, said in a statement after Trump's disclosure was released. "If it does not, it will only turbocharge Donald Trump's brazen crypto corruption."
Trump's annual financial disclosure, released Tuesday by the Office of Government Ethics, showed the president was paid roughly $2.2 billion in total income last year, with crypto ventures making up the largest single slice. World Liberty Financial, the Trump family's venture with Middle East envoy Steve Witkoff, brought in more than $500 million from governance token sales, while CIC Digital LLC generated more than $600 million from Trump-branded meme coins launched days before his second inauguration, according to the Guardian.
