With the meme coin $TRUMP and the company World Liberty Financial, the President is using an underregulated industry to enrich himself and court foreign influence.

Democrats are sounding the alarm and demanding answers on potential conflicts of interest in the Trump family’s business dealings with a pardon-seeking former cryptocurrency CEO.

The president’s deep involvement in the crypto industry is raising red flags in Washington, leading to the collapse of a key stablecoin bill. Donald Trump said on the campaign trail ahead of his election that he intended to be the “crypto president.