Exclusive: Dems press Trump to divest from stablecoin

[BumRushDaShow]

Source: Axios

4 hours ago


Senate Democrats are asking President Trump to divest from his cryptocurrency empire as he embarks on his Middle East trip this week, Axios has learned.

Why it matters: Democrats have raised corruption concerns over the Trump family's crypto dealings.

Driving the news: Sens. Elizabeth Warren (D-Mass.) and Chris Van Hollen (D-Md.) urged Trump on Monday to divest from his stablecoin before reaching any agreements with foreign governments on his trip abroad.

The Democrats warned against allowing foreign governments to use the stablecoin to influence Trump's decision making.

The New York Times reported earlier this month that Trump's family members could profit from the $2 billion worth of their Stablecoins that would be used for a foreign transaction involving an Abu Dhabi investment fund.

What they're saying: "You can eliminate at least one venue for corruption ... by divesting all of your interests and your family's interests" in the stablecoin, the lawmakers wrote.

Democrats see the potential for high levels of corruption with Trump's crypto deals, and used some of those concerns to derail a bipartisan crypto regulation bill last week.

Read more: https://www.axios.com/2025/05/13/trump-stablecoin-crypto-divest-corruption-dems

---

Link to Senate Banking Committee Democrats' PRESS RELEASE - Warren, Van Hollen Call on Trump and Trump Family to Divest from World Liberty Financial; Sound Alarm on Foreign Governments Using Trump Crypto to Curry Presidential Favors

Link to LETTER (PDF) - https://www.banking.senate.gov/imo/media/doc/ewcvh_letter_to_trump_re_middle_east_trip_crypto_corruption.pdf