Democratic Senators Probe Trump-Linked Stablecoin Amid Regulatory Concerns

Three Democratic senators have escalated scrutiny over former President Donald Trump's cryptocurrency ventures, demanding clarity from banking regulators on potential conflicts of interest. Chris Van Hollen, Ron Wyden, and Elizabeth Warren penned a letter to Comptroller of the Currency Jonathan Gould, questioning oversight of the stablecoin market where Trump-affiliated businesses operate.

The inquiry follows March's launch of USD1 stablecoin by World Liberty Financial, a Trump-family-linked DeFi platform. Legislators specifically referenced the GENIUS Act—recent stablecoin legislation signed by Trump—expressing concerns that presidential financial interests could compromise banking system safeguards.

Regulatory attention intensifies as the Trump family deepens its cryptocurrency involvement while maintaining political influence. The senators' letter underscores growing tensions between private crypto ventures and public oversight mechanisms in an evolving digital asset landscape.