Did Trump Turn Crypto Into a Corruption Machine? Rep Raskin Report Claims

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Rep. Jamie Raskin, the top Democrat on the House Judiciary Committee, has released a report accusing President Donald Trump and his family of using the White House as a “personal money-making machine.”

The report says that Trump has made over 800 million in just a month through crypto ventures tied to foreign governments, business allies, and even criminal groups.

Trump Crypto Corruption Report: $800M

According to the House Judiciary Committee’s November 24, 2025, staff report titled “Trump, Crypto, and a New Age of Corruption.”

The report claims that Trump’s family earned more than $800 million from crypto sales in H1 2025 alone, while their family’s total crypto holdings have reached $11.6 billion.

Rep. Jamie Raskin said Trump “turned the Oval Office into a corrupt crypto startup,” accusing him of mixing politics, money, and foreign influence.

He warns that Congress must act before “foreign actors and wealthy insiders rewrite the laws for their own profit.”

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Foreign Money, Crypto Tokens, and Political Favors

Further reports reveal that foreign nationals and state-backed groups invested a large amount of money into Trump-connected crypto projects, such as World Liberty Financial (WLFI), MELANIA, and the TRUMP token.

In return, the administration allegedly supported decisions that favored these investors, including shutting down the DOJ’s National Crypto Enforcement Team (NCET) in April 2025 and lifting sanctions on Tornado Cash.

There were also claims of quietly ending investigations into major crypto firms like Coinbase, Gemini, Ripple, and Kraken. 

Most recently, Trump pardoned Binance’s CZ, despite his money-laundering conviction.

Trump Savior or Crypto Kingpin?

Raskin’s report ends with a warning that Trump’s rapid rise to billions through crypto in under a year shows major weaknesses in U.S. campaign finance and anti-corruption laws.

However, many bullish crypto traders see the opposite story. They praise Trump as a leader who freed the crypto market, helped Bitcoin reach $125,000, and pushed for clearer regulations in the United States.

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