House Democrats have released a report alleging extensive presidential self-dealing, foreign influence, and obstruction of justice stemming from former President Donald Trump's crypto ventures. The report, published on November 24, 2025, claims Trump has "turned the Oval Office into the world’s most corrupt crypto startup operation," minting personal fortunes for his family. The value of Trump-linked crypto enterprises is plummeting amidst the allegations.
Shares of American Bitcoin Corp, a mining firm founded by Eric Trump and Donald Trump Jr., are down over 40% since October 2025, despite reported revenue growth. Trump Media and Technology Group, which holds $2 billion in Bitcoin, has seen its shares drop 33%. The WLFI token, tied to the Trump family's DeFi project World Liberty Financial, has slid 50% from its all-time highs. Trump and Melania Trump's personal memecoins have collapsed more than 91% and 99%, respectively.
The report centers on World Liberty Financial's revenue structure, where 75% of net revenues flow to DT Marks DEFI LLC, a Trump family-linked entity, while insulating them from operational liability. The Trump family has collected at least $890 million in revenues and holds WLFI tokens valued at $3.8 billion, with no documented personal capital investment. The report also highlights foreign investment concerns, including a $75 million WLFI token purchase by Tron founder Justin Sun before his SEC fraud case was dropped, and a $100 million stablecoin transfer from the UAE-based Aqua 1 Foundation.
Further allegations involve a potential quid pro quo with Binance. A separate 60 Minutes investigation tied a $2 billion investment deal between Binance and Abu Dhabi’s MGX—settled in WLFI's USD1 stablecoin—to a recent presidential pardon for Binance founder Changpeng Zhao. Binance CEO Richard Teng and Zhao's lawyer have dismissed these claims.
The controversy extends to Trump's memecoin, which surged over 70% after he announced an exclusive White House dinner for top holders. The report notes that 19 of the 25 VIP guests were foreign nationals. Despite the financial rout, Trump's net worth, significantly contributed to by his crypto ventures, is estimated at $6.7 billion.
