Virginia

U.S. Congressman Gerry Connolly accuses President Donald Trump of having “100 conflicts of interest” related to crypto, calling it “public corruption.” Could Trump’s crypto activities slow the legal progress of the industry? Let's analyze in detail.

Connolly Accuses: Trump and “100 Conflicts of Interest”

Connolly, Democratic Congressman from #Virginia and senior member of the House Oversight Committee, stated to DL News on Monday that the first 100 days of Trump’s presidency are rife with conflicts of interest, especially with the Trump family's crypto projects. He criticized Trump’s favoritism toward the crypto industry, such as the SEC (under new leadership appointed by Trump) dropping lawsuits against Coinbase, Ripple, and Binance – which the Biden administration had tightened. Connolly emphasized: “This is public corruption,” referring to Trump inviting the 220 largest holders of the meme coin $TRUMP to attend the gala on May 22, causing the token price to rise over 50%.