If U.S. Democrats win a House majority in November's midterm elections, launching investigations into U.S. President Donald Trump's finances and cryptocurrency business is expected to rise as Congress' top priority.
On Aug. 8 local time, blockchain outlet Cryptopolitan reported that the market-structure bill known as the Clarity bill, which the crypto industry has pushed throughout the year, could drift for longer amid that political landscape.
A key issue is that Democrats are making potential conflicts of interest between the Trump family's crypto business and the presidency a precondition for moving the bill. There is also speculation that demands for subpoenas and hearings that were put on hold while Republicans held the House could be restarted at once if the majority changes.
Jamie Raskin (제이미 래스킨), the top Democrat on the House Judiciary Committee from Maryland, said Democrats could use hearings, deposition transcripts and subpoenas if they retake the House. He called corruption issues surrounding the president a "national emergency". Targets include Attorney General Pam Bondi, an anti-weaponisation fund worth $1.8 billion for Trump associates and suspected violations of the foreign emoluments clause.
Trump's disclosed crypto-related income for 2025 is also at issue. A 927-page financial disclosure filed with the U.S. Office of Government Ethics shows Trump reported more than $1 billion in related income. About $635 million of that was royalty income from "Celebration Coin" tied to the TRUMP memecoin business. More than $500 million was reported as sales income from World Liberty Financial (WLFI), a cryptocurrency company co-founded by family members.
Democratic Representative Yassamin Ansari (야사민 안사리) of Arizona has already asked the House Oversight Committee to subpoena Barron Trump. Barron Trump, a co-founder of World Liberty Financial, is estimated to hold about $150 million in crypto assets. The subpoena request is currently frozen while Republicans hold the House gavel.
