FT · 2026-11-08 05:00 UTC

Crypto industry braces for reckoning over Trump ties

Democrats won the US midterm elections and vowed to investigate the Trump family and its ties to the crypto industry, making alleged self-dealing and crypto pay-offs a central campaign issue. Trump earned more than $1.16bn in crypto sales and token royalties last year, including memecoin sales and crypto ventures such as World Liberty Financial, which has said Trump has had no involvement since taking office. Crypto firms spent nearly $200mn on the midterms through Fairshake and a Tether-backed Pac, but lost many of the races they backed, and Democrats now control both chambers with subpoena…

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