Democrats Push Treasury for Trump Crypto and Musk PAC Disclosures—Because Nothing Says ’Transparency’ Like Political Theater

Washington’s latest crypto showdown kicks off as Democrats demand Treasury reports on Trump-linked digital assets and Elon Musk’s PAC dealings. Because when traditional markets wobble, why not add political spice to the volatility?

Lawmakers want receipts—literally—on how these high-profile figures are playing the crypto game. Meanwhile, Wall Street watches with popcorn, waiting to see if this actually changes anything or just fuels the next tweetstorm.

Bonus cynicism: Nothing unites politicians faster than the smell of undisclosed money—except maybe an election year.

$TRUMP memecoin

The investigation also targets the $TRUMP (TRUMP) memecoin, launched just before Trump’s inauguration. Entities linked to TRUMP reportedly hold 80% of the token supply and have earned $100 million in trading fees. 

With no public records of coin buyers and the SEC ruling meme coins fall outside its jurisdiction, Democrats warn of risks of undisclosed foreign actors influencing Trump through crypto.

Musk’s America PAC is also under scrutiny for allegedly leveraging financial backing to gain Trump’s political favor, including turning the White House South Lawn into a Tesla showroom. 

Meanwhile, WinRed and two scam PACs are being investigated for deceptive practices, including tricking elderly donors and using Trump’s voice in robocalls to raise funds.

The lawmakers say the probe will help determine if new legislation is needed to prevent fraud and preserve election integrity.