Trump's Crypto Involvement Boosts Net Worth 143% Amid Waters' Critique

Congresswoman Maxine Waters delivered a scathing critique of President Donald Trump during a House Financial Services Committee hearing, alleging that he has been leveraging crypto markets to bolster his personal wealth at the expense of retail investors.

Waters specifically targeted several digital asset initiatives linked to Trump, including the Official Trump Token (TRUMP), which has seen a nearly 90% decline since its peak in January. She asserted that the token's collapse resulted in significant losses for investors, while Trump and his associates allegedly reaped substantial profits.

Financial disclosures and public estimates presented during the hearing indicated that Trump’s net worth has surged from $2.3 billion to $5.6 billion over the past year, with a significant portion of this increase attributed to his involvement in the crypto sector.

Waters also directed her criticism towards World Liberty Financial, a firm with connections to the Trump family that recently introduced USD1, a stablecoin backed by short-term US Treasury securities. She expressed concerns that the stablecoin's design could be exploited for regulatory favoritism, undisclosed political financing, or foreign influence.

By emphasizing the stablecoin’s dollar-pegged structure and redemption mechanism, Waters raised questions about how closely USD1 mimics sovereign currency and how it might benefit from perceived legitimacy due to Trump’s involvement. She urged lawmakers to ensure that all crypto legislation includes provisions to address potential conflicts of interest involving sitting public officials.

Waters criticized the subcommittee on digital assets for advancing legislation that she believes supports Trump’s crypto ambitions. She argued that recent votes have positioned Trump to dominate the digital dollar landscape by enabling favorable treatment of stablecoins connected to his political and business network.

Throughout the hearing, Waters advocated for stricter ethical checks on crypto legislation, particularly given the financial ties between a sitting president and the sector. She framed the issue as a test of regulatory independence and transparency in the face of rising political influence in emerging financial markets.

The White House has not responded to the claims raised during the hearing. World Liberty Financial also declined to comment.