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Trump 'in his digital wallet'
Democrats blasted the latest President Donald Trump-linked project—a crypto wallet—during a House Financial Services Committee meeting on Wednesday.
Stacy Elliott
June 04, 2025
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📝 What you need to know
It seems each time the House Financial Services Committee convenes to discuss crypto policy, there’s a new Trump-backed crypto project that steals the spotlight.
”Trump doesn't just want Americans to use his crypto. He wants to put our money in his digital wallet while he guts our financial regulators, the watchdogs that protect families from financial fraud,” said Rep. Maxine Waters (D-CA), who’s also the committee’s ranking Democrat.
When Rep. French Hill (R-AR) introduced the Digital Asset Market Clarity Act last week, he did so while touting its bipartisan support. But his colleagues from across the aisle spent most of the meeting today lambasting the president’s crypto aspirations.
Former CFTC chair Timothy Massad said during the meeting that the potential for Trump to profit from the committee’s crypto rule-making “cannot be ignored.”
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💬 Quote of the Day
He is making billions of dollars selling meme coins and stable coins, investing in crypto exchanges and wallets and Bitcoin mining, all of which are potentially the subject of legislation. If any member of this committee did any of those things, you would all be outraged.
