The latest conflicts of interest related to the Trump administration and crypto
The latest conflicts of interest related to the Trump administration and crypto
- Fri, Feb 6 2026 at 12:24 PM
Mark, we wanted to make sure you saw some of the latest news on a growing corruption issue during the second Trump administration: cryptocurrency.
ProPublica: “Six Senators Accuse Deputy Attorney General of ‘Glaring’ Crypto Conflict, Cite ProPublica Investigation”
Last week, six senators accused Deputy Attorney General Todd Blanche of having a conflict of interest when he issued a memo shutting down investigations into crypto companies, therefore violating federal ethics law.
According to reports, Blanche held between $159,000 and $485,000 in crypto when he ended investigations into crypto companies—despite having committed to divest from his crypto holdings within 90 days of his confirmation. Then he transferred the assets to his family.
This is just the latest in a mounting list of potential conflicts of interest related to the Trump administration and crypto. And it highlights the ethics problems posed by the administration’s crypto policies, which have given the industry a major boost in the last year.Since the start of Donald Trump’s second term, the president has implemented policies that have boosted the crypto industry, while also adding to the conflicts of interest between the administration and the crypto industry.
Here are some conflicts of interest that have caught our attention:
Last month, the SEC dropped its enforcement case against Gemini, a cryptoexchange founded by the billionaire twins Tyler and Cameron Winklevoss, who have ties to Trump.
This follows a series of industry-friendly actions by the SEC under Trump, including reportedly dismissing more than 60% of its lawsuits against crypto firms, benefiting many companies with financial ties to the Trump family's crypto empire.
The Winklevoss twins donated to support Trump's reelection and to Trump's new White House ballroom. They're also in business with both Eric Trump and Don Jr.
Let’s be clear: enforcement shouldn’t depend on who you are or how powerful you are. Strong oversight doesn't make exceptions for political allies. Period.
Meanwhile, the Trump family's crypto company, World Liberty Financial, is applying for a national banking license from the Trump administration.
So far in his second term, Trump has leveraged his presidential powers to benefit the industry—and, in some cases, his own company. Trump and his family own and profit from World Liberty Financial, which has significantly boosted their wealth.
Now, World Liberty Financial is applying for a banking license to be granted by an arm of the Treasury Department, raising serious conflict-of-interest issues and questions about the president profiting from the presidency.
Mark, the crypto-friendly policies of the Trump administration have caused conflicts of interest between the industry and administration to pile up over the last year.
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