U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member presses for ethics bans in crypto bill after USD 1.4 billion Trump disclosure

U.S. Senator Elizabeth Warren, the ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Senate leaders urging that any cryptocurrency legislation brought to the Senate floor bar the president, vice president, senior administration officials, members of Congress and their families from profiting from the crypto industry. She tied that request to the Office of Government Ethics release of President Donald Trump’s 2025 public financial disclosure report, which she said showed roughly USD 1.4 billion in income from cryptocurrency ventures, and to indications that a Senate floor vote on crypto market structure legislation could occur this month. The letter argues that the current draft raises concerns for national security, financial stability, consumer protection and ethics, and says those concerns are sharpened by the president’s crypto-related conflicts of interest. Warren pointed to reports that, shortly before Trump’s inauguration, United Arab Emirates National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan signed a deal with the Trump family to buy a 49% stake in World Liberty Financial through WLF Holdco LLC, a transaction she said generated USD 263 million for the president. She also cited the Trump family’s 30% stake in DT Marks Defi LLC, including Coinbase accounts worth more than USD 100 million and a 38.25% ownership interest in WLF Holdco LLC, and said DT Marks Defi LLC generated more than USD 590 million in income in 2025. Warren also argued that the Senate is devoting time to crypto legislation while public concerns are focused more heavily on affordability, and said the pending legislation could further benefit the Trump family’s crypto businesses.