Trump turned crypto into a personal gold mine - now the Democrats enter the picture

The Democratic Party in the U.S. intends to use its new majority in Congress to investigate Trump's and his family's crypto businesses, which raked in over $1.16 billion in the past year. The focus: political donations, financial ties, and deals with leading industry companies, according to a report in the Financial Times.

The Democratic Party in the U.S. intends to use its new majority in Congress to open investigations against President Donald Trump, his family members, and their financial ties to the crypto sector, according to a report in the Financial Times. The Democrats have turned what they call 'crypto bribery payments' into a key campaign issue, which helped them capture Republican strongholds. Over the past year, Trump earned over $1.16 billion from crypto sales and royalties, including 'meme' coins and ventures linked to foreign investments. Congressman Robert Garcia, slated to head the Oversight Committee, said the investigation will focus 'like a laser' on the Trump family's profits. Senators Elizabeth Warren and Richard Blumenthal are expected to investigate the family venture 'World Liberty Financial', alongside probes into Tether and Binance's involvement in money laundering. The crypto industry poured nearly $200 million into midterm election campaigns.