Key Takeaways
- Democrat Adam Schiff has introduced the COIN Act, a bill that would ban sitting presidents from promoting or launching crypto projects.
- The bill would apply to the president, vice president, and their immediate families, barring them from issuing or endorsing tokens.
- It follows mounting criticism over Donald Trump’s growing crypto empire and personal involvement in token projects.
As Donald Trump ramps up his involvement in the crypto space during his second term, Democratic lawmakers are pushing back.
On Monday, Senator Adam Schiff introduced the COIN Act (Curbing Officials’ Income and Nondisclosure) —a bill that would bar the president, vice president, and their immediate family members from launching, promoting, or profiting from crypto ventures while in office.
New Bill Targets Trump’s Crypto Dealings
The proposed legislation would prohibit any form of cryptocurrency promotion, including non-fungible tokens (NFTs), memecoins, and stablecoins.
The COIN Act also requires disclosure of crypto transactions over $1,000. Violations could result in fines and up to five years in prison.
While not mentioning Trump by name, the bill clearly responds to his growing presence in the crypto industry, which many Democrats say raises serious ethical and legal concerns.
Trump has directly promoted crypto projects tied to his family and hosted events for major holders of his own memecoin, raising questions about conflicts of interest while in public office.
Trump’s Expanding Crypto Footprint
Once known primarily for his real estate empire, Donald Trump has become increasingly active in crypto, and critics say he’s turning the presidency into a marketing platform.
Here’s a look at the crypto ventures tied to Trump and his family:
World Liberty Financial
A DeFi platform backed by Trump family members, including Donald Trump Jr. and Eric Trump.
The company raised $550 million through token sales and has since launched a stablecoin, now among the top 10 by market cap.
Trump Media and Technology Group
The parent company of Truth Social made headlines in May 2025 after announcing a $2.5 billion Bitcoin reserve strategy, marking its official entry into crypto.
American Bitcoin
A new mining venture with Eric Trump as chief strategy officer. The company is preparing for a public listing through a SPAC merger, with Eric and Don Jr. holding minority stakes.
Trump Memecoin
A memecoin bearing Trump’s name and marketed to his base. At its peak, it boosted Trump’s net worth by $50 billion—but has since plunged more than 80%.
Trump NFTs
Trump’s first major entry into the crypto industry came via NFTs. Launched in 2022, his “Trump Digital Trading Cards” series sold out in hours and sparked a wave of political collectibles.
The project has since expanded into multiple seasons, with some NFTs granting real-world perks like dinners or meet-and-greets with the president.
