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Democrats push back against Trump's growing crypto empire

In February 2025, Senator Chris Murphy unveiled legislation known as the MEME Act, aimed at addressing the issue of federal officials, including President Donald Trump, issuing meme coins.
The bill follows concerns that meme coins, a cryptocurrency linked to internet memes, enable officials to secretly receive payments, raising corruption and emoluments issues.
A group of House Democrats, with Rep. Maxine Waters at the forefront, halted a planned hearing on cryptocurrency tied to Trump’s meme coins and instead organized a separate meeting to spotlight concerns over potential corruption.
Trump’s $TRUMP meme coin valued $2.19 billion on May 7 dropped over 85% since January, with top holders gaining incentives like gala invites amid pay-for-play allegations.
The developments intensified Democratic efforts to regulate cryptocurrency involvement by presidents and lawmakers, underscoring political and ethical concerns about the Trump family’s crypto ventures.

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HuffPost

Left

Democrats Tank Crypto Bill Amid Alarm Over Trump Corruption

The move is a setback for the influential cryptocurrency industry, which spent heavily on congressional races last year.

4 hours ago·United States

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Salon

Left

Trump administration rants as Democrats stop crypto bill

The landmark legislation failed to advance in the Senate because of the president's growing crypto empire

4 hours ago·San Francisco, United States

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Associated Press News

+12 Reposted by 12 other sources

Lean Left

Democrats block stablecoin bill as they raise concerns about Trump's crypto ventures

Senate Democrats have blocked legislation to regulate a form of cryptocurrency after arguing that the bill needed stronger protections.

5 hours ago·United States

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CBS News

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Senate fails to advance crypto bill amid Democratic opposition

A key procedural vote Thursday on a first-of-its-kind crypto regulation bill fell short in the Senate, facing opposition from Democrats amid ties between the crypto industry and the Trump family have threatened to tank the vote.

6 hours ago

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Bloomberg

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Crypto-Backed Stablecoin Bill Blocked Amid Furor Over Trump Memecoin

Senate Democrats blocked stablecoin legislation backed by the digital assets industry amid a furor over President Donald Trump’s extensive and growing portfolio of crypto ventures.

6 hours ago·United States

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OffGuardian

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Inside CBDC’s Anti-Trump Rebrand

The planned rollout of a planet-wide network of “interoperable” digital currencies has shifted gears this year. Digital Currency is still the endgame, but – in keeping with the spirit of the age – it seems they are changing the method to create the illusion of sides and choices. We covered this briefly our most recent …

6 hours ago

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