rep. Waters Challenges Trump’s Crypto Ventures in house Hearing
Rep. Maxine Waters, a key figure in the House Financial Services Committee, recently criticized Donald Trump’s crypto ventures.During a heated hearing on April 9, Waters accused Trump of using crypto to double his wealth, at the expense of investors.
Waters highlighted the Official Trump token (TRUMP), a memecoin that has lost 89.93% of its value since January. She called it a “fraudulent memecoin” that has cost investors $2 billion, while Trump and his family allegedly pocketed $350 million. trump’s wealth reportedly grew from $2.3 billion to $5.6 billion through thes ventures.
Waters also raised concerns about other trump-affiliated projects, like World Liberty Financial (WLFI). She fears these could be used by foreign or domestic actors to influence U.S. policy. “These ventures create avenues for anonymous money transfers to Trump and his circle,” she warned.
Waters criticized the subcommittee on digital assets for supporting Trump’s crypto ambitions. She mentioned the WLFI stablecoin, USD1, which is redeemable for U.S. dollars and backed by short-term Treasuries. She warned of potential regulatory favoritism.
waters, along with Senator Elizabeth Warren, has long criticized Trump and crypto deregulation. They demand that all crypto legislation address Trump’s potential conflicts of interest.
