Key Highlights
- Five Senate Democrats called for an investigation into Trump’s crypto holdings after his financial disclosure.
- Lawmakers raised concerns over foreign investors linked to World Liberty Financial and possible conflicts of interest.
- The approval strengthens USDC’s infrastructure and supports future reserve management.
About five Senate Democrats have reportedly called for the Congress to investigate President Donald Trump’s cryptocurrency holdings after his latest financial disclosure revealed that his family’s crypto ventures generated more than $1 billion in 2025.
According to an official release, the lawmakers reportedly sent a letter on Friday to Republican-led Senate committees to hold hearings and examine whether Trump’s crypto businesses could create national security risks or possible conflicts of interest because of foreign investors linked to the ventures.
Democrats push for senate hearings
The request comes just days before senators return to Washington and follows the release of Trump’s 927-page annual financial disclosure on June 30.
The document gave the public one of the clearest pictures yet of how much money Trump earned from his crypto businesses during the year. The senators argued that the filing raises some questions about who is investing in the Trump family’s crypto projects and whether those financial ties could have affected government decisions.
According to the report, the letter was signed by Sens. Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden.
They asked the Senate committees where they serve as the top Democratic members to investigate the president’s crypto income, with special attention on World Liberty Financial, the Trump family’s decentralized finance company.
Lawmakers question foreign investment links
The lawmakers said World Liberty Financial deserves closer scrutiny because of reports that a group connected to Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, bought a 49% stake in the company.
They also pointed to unnamed “Third Parties” listed in Trump’s financial disclosure and said Congress should determine whether the UAE or any other financial backers may have had influence over the administration’s policies.
“President Trump’s new financial disclosures reveal the Trump family crypto ventures generated the vast majority of his income — about $1.4 billion in the first year of his second term alone,” the senators wrote in the letter.
Trump’s crypto income tops $1 billion
The financial filing showed that most of his crypto wealth came from business deals instead of simply buying and holding digital assets.
The disclosure listed about $515 million earned from World Liberty Financial token sales and another $65 million from selling equity in the company that owns the business. It also showed that Trump received around $635 million in royalties linked to the $TRUMP memecoin.
The filing explained that the memecoin income mainly came from licensing agreements connected to the project rather than profits from trading the token. It also listed Bitcoin holdings worth more than $50 million, making it much smaller than the income generated by his crypto businesses.
Trump defends his crypto earnings
Meanwhile, Trump has rejected claims that his crypto earnings are connected to his role as president.
During an interview with CNBC, he said there was “nothing illegal” or “wrong” with his crypto ventures. He also told reporters that he does not personally manage his investments and that professional fund managers handle his finances. “I don’t get involved in my personal (finances), we have funds that run my money,” Trump said.
Moreover, the White House has repeatedly defended the president, saying his assets are held in a trust managed by his children and that his business interests do not create conflicts of interest. World Liberty Financial also did not immediately respond to requests for comment on the Democrats’ latest letter.
Democrats Renew Earlier Concerns
Friday’s request is not the first time Democrats have raised concerns about the Trump family’s crypto business. Earlier this year, Rep. Ro Khanna opened a House inquiry into the reported UAE investment in World Liberty Financial.
Democratic senators also requested hearings in June over reports that UAE officials made payments to entities linked to the Trump family and the family of Steve Witkoff, the U.S. special envoy to the Middle East.
They questioned whether those business dealings had any connection to later administration decisions involving AI chip exports and arms sales to the UAE.
Also Read: Peter Schiff Predicts Lawsuit Storm Over Trump’s Crypto Empire
