{"id":35962,"date":"2026-07-31T05:37:19","date_gmt":"2026-07-31T05:37:19","guid":{"rendered":"https:\/\/bitunikey.com\/news\/senator-schumer-bill-targets-trumps-1-4b-crypto-income\/"},"modified":"2026-07-31T05:37:45","modified_gmt":"2026-07-31T05:37:45","slug":"senator-schumer-bill-targets-trumps-1-4b-crypto-income","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/senator-schumer-bill-targets-trumps-1-4b-crypto-income\/","title":{"rendered":"Senator Schumer bill targets Trump\u2019s $1.4B crypto income"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">U.S. Senate Minority Leader Chuck Schumer introduced the Anti-Corruption Bureau Creation Act on July 30, proposing a federal agency with authority to investigate and pursue executive-branch corruption.\u00a0<\/p>\n<div id=\"cn-block-summary-block_684cdb6b140db1c79828795587f69795\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Seven Senate-confirmed members would lead the proposed bureau, with subpoena, enforcement and reporting powers nationwide.<\/li>\n<li>Trump\u2019s certified disclosure entries totaled over $1.4 billion across crypto-related ventures during calendar year 2025.<\/li>\n<li>Four Democratic senators sponsor the bill; its launch materials named no Republican cosponsor on Friday.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Senators Andy Kim, Alex Padilla and Jeff Merkley <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.democrats.senate.gov\/newsroom\/press-releases\/as-trump-banks-billions-off-the-presidency-leader-schumer-pushes-to-create-first-ever-anti-corruption-bureau-to-stop-presidents-from-cashing-in-on-public-office\" target=\"_blank\" rel=\"nofollow\">joined<\/a> Schumer as original cosponsors.The bill cites President Donald Trump\u2019s 2025 financial disclosure and says he received at least $2 billion from investments and business interests, including more than $1.4 billion connected to crypto ventures. The proposal does not itself establish that any disclosed income resulted from illegal conduct.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Senate Minority Leader Chuck Schumer Proposes Anti-Corruption Agency as Trump Discloses Over $2B in 2025 Investment Income, Including $1.4B Tied to Crypto<\/p>\n<p>U.S. Senate Minority Leader Chuck Schumer introduced a bill to create an agency overseeing executive-branch corruption,\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/FsQBOLS8dE\">pic.twitter.com\/FsQBOLS8dE<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/WuBlockchain\/status\/2083028300721766460?ref_src=twsrc%5Etfw\">July 31, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The crypto figure represents an aggregation of entries in the disclosure, rather than a single total calculated by the Office of Government Ethics. The filing reports income and transaction amounts, not the net profit that would appear on a tax return.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Anti-Corruption Bureau would combine three watchdogs<\/strong><\/h2>\n<p>Schumer\u2019s proposal would place the Federal Election Commission, Office of Government Ethics and Office of Special Counsel inside one independent bureau. A seven-member board confirmed by the Senate would oversee investigations, subpoenas, enforcement actions and public reporting.<\/p>\n<p>The legislation would also allow state attorneys general and private plaintiffs to seek recovery of funds allegedly obtained through corruption. Its <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.democrats.senate.gov\/imo\/media\/doc\/anti-corruption_bureau_act_summary.pdf\" target=\"_blank\" rel=\"nofollow\">official summary<\/a> describes disgorgement, treble damages and awards for successful plaintiffs. It also proposes a self-financing Freedom From Influence Fund.<\/p>\n<p>A three-judge division of the U.S. Court of Appeals for the D.C. Circuit could appoint temporary board members when vacancies threaten the bureau\u2019s operation. The provision is intended to prevent a president or Senate from disabling the agency by leaving seats vacant.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Trump\u2019s crypto income came from several ventures<\/strong><\/h2>\n<p>Trump\u2019s <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.oge.gov\/web\/oge.nsf\/Resources\/Now%2BAvailable%3A%2BThe%2BPresident%E2%80%99s%2Band%2BVice%2BPresident%E2%80%99s%2Bcertified%2Bannual%2Bfinancial%2Bdisclosure%2Breports\" target=\"_blank\" rel=\"nofollow\">certified disclosure<\/a> lists $635.1 million in royalties from Celebration Coins. It also records hundreds of millions of dollars from World Liberty Financial token sales, equity transactions and crypto wallets, plus $196.9 million tied to a stablecoin-related holding company. Together, the listed crypto-related entries exceed $1.4 billion.<\/p>\n<p>Those figures describe disclosed revenue and proceeds, not necessarily Trump\u2019s personal after-tax earnings. As previously reported, the filing showed that crypto generated more income than Trump\u2019s resorts and other property businesses during 2025.<\/p>\n<p>The bill separately states that Trump\u2019s family held more than $1 billion in a crypto fund connected to foreign governments. It references a reported United Arab Emirates-backed investment in World Liberty Financial. These are legislative findings and allegations, not a court judgment that corruption occurred.<\/p>\n<h2 class=\"wp-block-heading\"><strong>White House rejects conflict-of-interest claims<\/strong><\/h2>\n<p>White House Principal Deputy Press Secretary Anna Kelly said Trump\u2019s investments were held in fully discretionary accounts managed by independent third-party financial institutions. She maintained there were \u201cno conflicts of interest.\u201d Trump has also said he does not manage his personal finances while serving as president.<\/p>\n<p>Schumer described the existing federal oversight system as a \u201cbroken patchwork\u201d and argued that its agencies were not designed to address current executive-branch conduct. The White House disputes the premise that Trump\u2019s business income creates an unlawful conflict.<\/p>\n<h2 class=\"wp-block-heading\"><strong>The bill faces a difficult path through Congress<\/strong><\/h2>\n<p>The publicly released <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.democrats.senate.gov\/imo\/media\/doc\/anti-corruption_bureau_act_full_text.pdf\" target=\"_blank\" rel=\"nofollow\">full bill text<\/a> still displayed a placeholder instead of a Senate bill number on July 31. The launch announcement listed four Democratic sponsors and no Republican cosponsor. The measure must clear both chambers before reaching Trump, who could veto it.<\/p>\n<p>The proposal also enters a wider debate over the Digital Asset Market Clarity Act. Senator Cynthia Lummis released updated Senate text on July 22 after the bill passed the Banking Committee by a 15\u20139 vote. Senator Elizabeth Warren argued that its current ethics provisions would not adequately restrict presidential crypto interests, while supporters continued to seek a bipartisan agreement.<\/p>\n<p>Crypto.news reported that the CLARITY Act still faced disputes over ethics and banking provisions as supporters pressed for a vote. The Senate is scheduled to reconvene on Aug. 3, but no timetable has been announced for Schumer\u2019s anti-corruption bill. Its next steps could include formal numbering, committee referral and hearings before any floor consideration.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Senate Minority Leader Chuck Schumer introduced the Anti-Corruption Bureau Creation Act on July 30, proposing a federal agency with authority to investigate and pursue executive-branch corruption.\u00a0 Summary Seven Senate-confirmed&hellip;<\/p>\n","protected":false},"author":1,"featured_media":35963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/35962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=35962"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/35962\/revisions"}],"predecessor-version":[{"id":35964,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/35962\/revisions\/35964"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/35963"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=35962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=35962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=35962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}