Democratic senators, led by Elizabeth Warren, have sent a letter to Jonathan Gould, the Comptroller of the Currency, expressing concerns about potential conflicts of interest due to Donald Trump's involvement in cryptocurrency businesses. The senators emphasized that Trump's family financially benefits from their crypto ventures, particularly a stablecoin known as USD1. They highlighted that the recently approved GENIUS Act does not prevent Trump from profiting from stablecoins, raising alarms about the integrity of U.S. cryptocurrency policy under his influence. The letter critiques a $2 billion investment deal involving a foreign firm and Binance, alleging it exemplifies a corrupt model benefitting Trump's family. They demanded clarity on how the OCC plans to handle such conflicts and called for an investigation into competitors of the Trump family’s ventures, with a deadline for responses by August 14.

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