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Warren Takes on Trump: Crypto Wallet Loophole Sparks Controversy

Wednesday, Jun 4, 2025 4:08 pm ET1min read

Senator Elizabeth Warren is opposing a loophole in the GENIUS Act that could benefit President Donald Trump's crypto wallet tied to the USD1 stablecoin. Warren introduced an amendment to ban sitting presidents and their families from profiting off stablecoins and wallet infrastructure, calling for transparency and integrity in the crypto industry. Critics argue that the GENIUS Act exempts certain crypto wallet services from oversight, which could shield entities like World Liberty Financial from accountability. Warren's amendment aims to close this loophole and prevent corruption in the crypto industry.

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