Democrats Investigate Trump Family Crypto Deal Over Foreign Memecoin Holders, Justin Sun $18M Stake, and Jeopardized Crypto Bill

Democratic lawmakers and researchers have called for investigations into the Trump family's cryptocurrency dealings amid concerns over foreign influence and corruption. The Trump family's crypto ventures, including a memecoin, have drawn scrutiny for potentially enabling bribery and regulatory capture. Senior U.S. Treasury advisor Chastity Murphy described the crypto empire as a vehicle for influence peddling and regulatory manipulation. Representative Sylvia Garcia criticized the Trump administration for weakening protections against fraud while family-associated firms like World Liberty Financial profit from the crypto market. A Bloomberg News analysis found that over 75% of the top 220 holders of Trump's memecoin are likely based outside the United States, with notable investors such as Justin Sun holding approximately $18 million. This foreign ownership raises concerns about potential foreign influence, especially as some top memecoin holders are competing for exclusive access to President Trump, including a May 22 dinner and a White House tour. The controversy has jeopardized a key cryptocurrency bill that the industry supports for regulatory clarity. The ongoing debate underscores fears that Trump's crypto activities may compromise the impartiality of future U.S. cryptocurrency regulations.