Trump's Crypto Holdings Spark Ethics Debate Over CLARITY Act Passage
U.S. President Donald Trump is pushing for the passage of the CLARITY Act by September 15, but Democrats are hesitant due to concerns over ethics rules that would address his own crypto holdings.
Trump reportedly made $1.4 billion from crypto in 2025, a figure that surpasses his entire real estate empire's value. This presents an awkward conflict of interest as he seeks to establish regulations for the industry through the CLARITY Act.
Special envoy Steve Witkoff has disclosed nearly $107 million in income last year from a holding company tied to World Liberty Financial, which is co-founded by his son and Trump's three sons. This includes over $69 million in cash and $38 million in crypto, more than triple what he reported from the same entity a year earlier.
The White House claims Witkoff has 'fully divested' from these holdings, but the arrangement raises questions about potential conflicts of interest given his role as envoy for the Middle East and Ukraine. World Liberty is also seeking to launch its own bank, backed by a fund connected to the UAE's national security adviser.