Warren Pushes to Bar Trump Family From Crypto Profits After $1.4B Disclosure

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."

Disclosure Numbers

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.

Warren's Escalation

Warren followed up Thursday with a sharper post on X, writing that "Donald Trump is using the Trump family crypto businesses to make himself richer" and that "any crypto bill must ban Trump and his family from profiting off crypto." She warned that without the restriction, "Congress is turbocharging corruption."

The legislation Warren referenced is the crypto market-structure bill working through the Senate, which The Defiant reported was already the subject of ethics-related negotiations between a White House official and Senate Democrats as of late June, ahead of a planned floor vote.

Trump's Response

Asked about the disclosure figures, Trump waved off the scrutiny. "I made a lot of money before I became president," he told reporters, according to the Guardian. The White House has maintained that Trump's businesses are run by his adult sons and walled off from his official duties.

Warren is not alone in pressing the point. Other Democrats, including California Governor Gavin Newsom and Minnesota Governor Tim Walz, criticized the disclosure this week, though neither holds a vote on the pending Senate bill.

A floor vote on the crypto market-structure legislation has not been scheduled. Whether Warren's proposed restriction survives into the final bill will depend on the ethics negotiations already underway between Senate Democrats and the White House.