Trump-era crypto bonanza faces reckoning as Democrats gain power in Congress For two years, the crypto industry has enjoyed unusually favorable conditions as Donald Trump championed digital assets, regulators eased restrictions and a Republican-controlled Congress advanced his agenda. Now, the US crypto industry's political honeymoon may be over, Bloomberg reports. As Democrats prepare to take control of Congress, digital asset companies face tougher regulation, tighter oversight and re-examination of their ties to Trump and his family, who reaped huge profits from ventures promoted under his administration. Since his election victory in 2024, the Trump family has generated about $2.3 billion from crypto projects in just 18 months, according to Reuters. Now the political landscape is changing: Democrats may make it difficult to pass crypto legislation on industry-friendly terms. The Senate's failure to advance the Clarity Act in September exposed divisions over investor protections, and Trump's personal crypto interests Democrats are pushing for a greater role for the Securities and Exchange Commission (SEC) in overseeing digital assets Trump's personal crypto dealings are expected to face more scrutiny from Congress, with Maxine Waters, D-Calif. House Financial Services Rep. Sherrod Brown, who lost his 2024 Senate race amid crypto industry spending against him, is back in the Senate, and may take a lead role on the Senate Agriculture Committee, which oversees the Commodity Futures Trading Committee — a key crypto regulator. Binance's latest hack could also fuel a greater focus on safety. substack | talk.

Trump-era crypto bonanza faces reckoning as Democrats gain power in Congress For two years, the crypto industry has enjoyed unusually favorable conditions as Donald Trump championed digital assets, regulators eased restrictions and a Republican-controlled Congress advanced his agenda. Now, the US crypto industry's political honeymoon may be over, Bloomberg reports. As Democrats prepare to take control of Congress, digital asset companies face tougher regulation, tighter oversight and re-examination of their ties to Trump and his family, who reaped huge profits from ventures promoted under his administration. Since his election victory in 2024, the Trump family has generated about $2.3 billion from crypto projects in just 18 months, according to Reuters. Now the political landscape is changing: Democrats may make it difficult to pass crypto legislation on industry-friendly terms. The Senate's failure to advance the Clarity Act in September exposed divisions over investor protections, and Trump's personal crypto interests Democrats are pushing for a greater role for the Securities and Exchange Commission (SEC) in overseeing digital assets Trump's personal crypto dealings are expected to face more scrutiny from Congress, with Maxine Waters, D-Calif. House Financial Services Rep. Sherrod Brown, who lost his 2024 Senate race amid crypto industry spending against him, is back in the Senate, and may take a lead role on the Senate Agriculture Committee, which oversees the Commodity Futures Trading Committee — a key crypto regulator. Binance's latest hack could also fuel a greater focus on safety. substack | talk.