"The US has never seen corruption on this scale," say Democrats about Trump's crypto projects.

Source: PortaldoBitcoin Original Title: “The US has never seen corruption on this scale,” say Democrats about Trump's crypto projects Original Link: The Democratic Party presented a report to the House Judiciary Committee in the U.S. that indicates that President Donald Trump exploited the political power of being the head of the Executive to profit hundreds of millions of dollars from the establishment of businesses in the cryptocurrency sector.

Released this week, the Democrats' report states that Trump's decision to adopt a pro-crypto agenda from a regulatory standpoint is merely a self-enrichment scheme for the family.

“He built that wealth from the Oval Office, directing investments to his family’s company, shielding his investors from federal fraud and securities investigations, leveraging his political base and undermining the federal agencies typically responsible for investigating bribery and monitoring malicious actors online,” the report argued.

The definition made by Congressman Jamie Raskin, who is the highest-ranking Democrat on the committee, is blunt: “We still don't know where all this money is coming from, but the United States has never seen corruption on this scale occurring within the White House.”

Trump's team denies accusations

Trump's press secretary, Karoline Leavitt, responded with a statement denying any conflicts and stating that the government is promoting innovation.

“The media's continuous attempts to fabricate conflicts of interest are irresponsible and reinforce the public's distrust in what they read,” she said in a statement.

“Neither the president nor his family have ever been involved, nor will they be involved, in conflicts of interest. Through executive actions, support for legislation such as the GENIUS Act, and other common-sense policies, the government is fulfilling the president's promise to make the United States the global capital of cryptocurrencies, driving innovation and economic opportunities for all Americans.”

President Trump had significant movements in the crypto industry directly linked to his name and that of his family. In January, he launched his official memecoin hours before taking office and raised billions of dollars with the initiative. Earlier, in September 2024, he launched World Liberty Financial, a financial services protocol that uses blockchain and smart contracts to manage the products.