Trump turned White House into a crypto ATM: Raskin

House Judiciary Committee Democrats are accusing President Donald Trump of transforming the presidency into a personal cryptocurrency profit machine.

According to a blistering new staff report released by Rep. Jamie Raskin, the committee’s ranking member, Trump and his family have used the Oval Office as a launchpad for a sprawling network of crypto ventures—ballooning their net worth by billions while unraveling safeguards meant to protect everyday investors.

In findings that read like a mash-up of Silicon Valley and House of Cards, the report claims the Trump family amassed as much as $11.6 billion in crypto assets and pocketed more than $800 million in income from token sales in the first half of 2025 alone.

Raskin didn’t mince words in the report :

“Donald Trump has turned the Oval Office into the world’s most corrupt crypto startup operation, minting staggering personal fortunes for him and his family in less than a year. Meantime, Trump has been pardoning criminals who commit fraud through crypto and dismantling the regulations that protect legitimate American investors. We don’t know where all the money is coming from yet, but America has never seen corruption on this scale take place inside the White House. This Report shows how Trump’s so-called ‘pro-crypto agenda’ is just one more Trump family self-enrichment plan, built on pay-to-play deals and corrupt foreign interests seeking secret channels of access and influence. Congress must expose this dangerous grift, and defend the rule of law against the profiteers and criminals who would destroy it.” 

According to the 78-page report—titled “Trump, Crypto, and a New Age of Corruption”—foreign governments, state-linked investors, and politically aligned corporations allegedly funneled money into Trump-branded crypto ventures such as World Liberty Financial and the $TRUMP memecoin.

In return, donors allegedly received favorable treatment ranging from regulatory rollbacks to the quiet shutdown of federal investigations involving major crypto firms, including Coinbase, Gemini, Ripple, Crypto.com, and Uniswap.

The report also claims Trump issued pardons and rolled back sanctions for fraudsters and criminal actors who provided financial backing to his crypto ventures. Meanwhile, the Administration dismantled key financial integrity safeguards, including dissolving the Department of Justice’s National Cryptocurrency Enforcement Team and scrapping investor protection rules introduced under President Biden.

The timing, Democrats say, makes the picture even starker

While the Trump family was allegedly raking in billions, the President and his allies in Congress were simultaneously allowing the federal government to shut down—jeopardizing healthcare tax credits, food benefits for women and children, and paychecks for active-duty troops.

Raskin warned that the findings expose gaping vulnerabilities in U.S. conflict-of-interest, bribery, and campaign finance laws.

This wasn’t a pro-crypto agenda, Raskin argues. The Trump-family “enrichment plan” is a pay-to-play setup for foreign interests looking for “secret channels” of influence.

The report urges Congress to pursue sweeping reforms to restore basic ethics, accountability, and transparency to the presidency.

Trump and his White House press secretary, Karoline Leavitt, have long maintained that the Trump family business is entirely separate from the goings-on in the Oval Office.