Trump Crypto Links Spur Senate Bill to Ban Officials’ Profits

President Donald Trump has made cryptocurrency a central component of his administration, with crypto ventures accounting for nearly 40% of the Trump Organization’s $2.9 billion net worth. His administration’s ties to major crypto figures such as Justin Sun and Michael Saylor have strengthened, with these industry leaders donating millions to Trump-aligned political action committees and gaining influence within the White House. Trump’s promotion of crypto has prompted legal and ethical concerns, leading Senator Adam Schiff and other Democrats to introduce the COIN Act, which aims to prohibit sitting presidents, cabinet members, and their families from endorsing or profiting from cryptocurrencies during and after their terms. Schiff cited Trump’s crypto activities as a catalyst for this legislation, emphasizing the need to protect public trust and prevent conflicts of interest. Despite growing public skepticism toward crypto, political and business entanglements remain deep, as demonstrated by industry lobbying and supportive lawmakers. The ongoing legislative efforts reflect heightened scrutiny of the intersection between government officials’ financial interests and the burgeoning crypto industry.