Senators Target Trump’s $2B Stablecoin Deal with New Crypto Ban Bill

Donald Trump’s foray into the world of crypto isn’t just making headlines in financial circles. It’s now lighting political fires on Capitol Hill. What started as a stablecoin project tied to Trump-linked firms has ballooned into a full-blown ethics controversy, with Senate Democrats calling it a national security risk and introducing legislation to shut it.. The post Senators Target Trump’s $2B Stablecoin Deal with New Crypto Ban Bill appeared first on 99Bitcoins.

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May 8, 2025 - 16:00

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Donald Trump’s foray into the world of crypto isn’t just making headlines in financial circles. It’s now lighting political fires on Capitol Hill. What started as a stablecoin project tied to Trump-linked firms has ballooned into a full-blown ethics controversy, with Senate Democrats calling it a national security risk and introducing legislation to shut it down. The End Crypto Corruption Act would prevent senior government officials from holding or promoting crypto assets tied to their decisions.

The $2 Billion Stablecoin Deal That Started It All

At the center of the storm is World Liberty Financial, a firm affiliated with the Trump family. According to reports, it secured a $2 billion investment from a Dubai-based company to back a Trump-branded stablecoin. The token is reportedly designed for use on Binance, one of the world’s largest crypto exchanges.