A US senator alleges Trump profited $1.4 billion from crypto ties following the Justice Department’s crypto enforcement unit shutdown.
Senator Dick Durbin accused Attorney General nominee Todd Blanche of dismantling the DOJ’s crypto unit, enabling former President Trump to earn $1.4 billion from industry connections, including his family’s World Liberty Financial. Durbin also claimed Binance ex-CEO Changpeng Zhao funneled $2 billion into the firm, leading to a presidential pardon for Zhao’s 2023 felony plea related to AML violations.
The allegations surfaced during Blanche’s confirmation hearing before the Senate Judiciary Committee. Republicans hold a 52-47 majority but face pushback over Blanche’s record on immigration, crypto policy, and the handling of sensitive cases. Senator Mitch McConnell’s absence due to hospitalization further narrows the margin for confirmation.
Blanche pledged to review the pardon but did not address the broader crypto-related accusations. The hearing underscored partisan divisions over the DOJ’s approach to digital assets and its perceived alignment with Trump’s financial interests.