House Democrats Walk Out of Crypto Hearing, Citing Trump's $2.9 Billion Crypto Ventures Including USD1 and TRUMP Ticker

House Democrats, led by Representative Maxine Waters, staged a walkout from a joint hearing on cryptocurrency regulation, protesting President Donald Trump's involvement in the crypto industry. The hearing, intended to discuss a new market structure bill, was disrupted as Democrats objected to the session, citing Trump's ownership of cryptocurrencies and his family's crypto ventures as a conflict of interest.

The walkout occurred during a session organized by the House Financial Services and Agriculture Committees, which aimed to provide clarity on digital asset regulation. Republicans continued the hearing as a roundtable, focusing on the draft legislation that would place most cryptocurrencies under the Commodity Futures Trading Commission's purview, rather than the Securities and Exchange Commission. The Trump family's crypto ventures, including World Liberty Financial and its stablecoin USD1, have been at the center of the controversy.

Democrats, in response, convened a separate discussion on 'Trump's crypto corruption,' highlighting ethical concerns and proposing draft legislation to restrict public officials from owning digital assets. The tension stems from the Trump family's involvement in cryptocurrencies, including a memecoin trading under the TRUMP ticker, which has raised nearly $2.9 billion. The family has offered top token holders a White House tour and a private dinner, with a recent $2 billion deal backed by the UAE government involving the stablecoin USD1.