Warren: Crypto Bill That Doesn't Stop Trump Profits Is Failing

Sen. Elizabeth Warren said Tuesday that any crypto legislation that fails to stop President Donald Trump and his family from profiting off digital assets is “failing” the American people. The Massachusetts Democrat pointed to the Clarity Act, which cleared the Senate Banking Committee in May and now sits on the Senate Legislative Calendar, eligible for a full floor vote.

“Any crypto legislation that does not stop Donald Trump and his family from continuing to profit off of crypto is failing the American people,” Warren said. The White House did not immediately return a request for comment.

Warren’s criticism followed Trump’s disclosure that cryptocurrency ventures netted him roughly $1.2 billion in 2025, his first year in office. Skybridge Capital founder Anthony Scaramucci said last week that such a windfall in a bear market would be cited as the main factor if the Clarity Act fails to pass the Senate.

Trump insisted his crypto earnings were neither “illegal” nor “wrong,” and that the U.S. must lead in cryptocurrency or risk losing ground to China. A White House spokesperson told Benzinga last week that all actions by the Trump administration are taken in the “best interest of the American people,” rejecting suggestions of conflict of interest.

The New York Times reported that nearly one million investors who bought the Official Trump (TRUMP) meme coin collectively lost $3.81 billion. Trump collected more than $635 million in royalties from the project. At the time of writing, TRUMP was trading at $1.60, down 4.71% in the last 24 hours and 97% from its all-time high.

Warren has opposed the Clarity Act from the start, citing its failure to address conflicts of interest tied to Trump’s crypto ventures. When the bill cleared the Senate Banking Committee vote in May, she said, “When this blows up with the economy, I hope everybody remembers.”

The bill remains on the Senate calendar with no floor vote scheduled.