Trump’s ‘Obscene’ 1.4 BILLION in Crypto Grift Income Shows Why Congress Must Act
WASHINGTON, D.C. — President Donald Trump’s annual financial disclosure report was released today, revealing $1.4 billion in income from cryptocurrency-related businesses. In response, Public Citizen co-president Robert Weissman issued the following statement:
“Donald Trump’s grift is degrading the presidency, ripping off consumers and investors, and driving dangerous policy that risks future financial crises and escalating geopolitical disasters.
“Trump’s obscene income is driven by various cryptocurrency schemes, leveraging his political position to exploit a scam-driven industry that he once said was nothing more than a racket. In doing so, he’s ripping off investors – to the tune of billions — who want to get in on the game with him, or think that buying his crypto products is an innocent means to show their support.
“Most troubling, Trump’s personal profit interest has now aligned him with the crypto industry, paving the way for dangerous legislation that will facilitate mass rip-offs and even threaten financial system stability.
“Not only that: Foreign governments and interests are using both crypto and non-crypto business ventures to enrich Trump and his family, fundamentally shaping his views of important foreign policy and national security questions that leave America and the world far, far less safe.
“The least that Congress can do in light of this disclosure is insist on language in cryptocurrency legislation prohibiting the president and other federal officeholders from trading or holding crypto assets while in office. A more comprehensive common-sense standard would require the president and vice president to divest from all financial holdings creating a conflict of interest.”