CLARITY Act Cannot Pass Without Stopping Trump From Profiting Off Crypto, Warren Says
Senator Elizabeth Warren sent a letter Monday drawing a firm line on the CLARITY Act β any version of the bill that reaches the Senate floor must prevent the president, vice president, senior administration officials, members of Congress, and their immediate families from profiting off the crypto industry.Β
The letter arrived on the same day Congress returned from recess, with Senate Majority Leader John Thune targeting a floor vote before the August 7 deadline.
Warren’s Case Against The CLARITY ActΒ
Warren’s letter was directly tied to President Trump’s 2025 financial disclosure, released by the Office of Government Ethics, which showed Trump made approximately $1.4 billion from cryptocurrency ventures last year. Warren wrote:
Leader Thune has indicated he aims to hold a floor vote on crypto market structure legislation this month, despite significant flaws in the current draft that have raised concerns about risks to national security, financial stability, consumer protection, and ethics. Those concerns have become even more pressing in light of the President’s 2025 financial disclosure, which underscores the severity of his crypto-related conflicts of interest.
The disclosure drew renewed attention to a deal struck just days before Trump’s inauguration, when the United Arab Emirates (UAE) National Security Advisor, Sheikh Tahnoon bin Zayed Al Nahyan, reportedly signed an agreement with the Trump family to purchase a 49% stake in World Liberty Financial (WLFI).Β
Warren also flagged the broader structure of the Trump family’s crypto holdings. Trump family members hold a 30% ownership stake in DT Marks Defi LLC, a crypto venture that includes accounts valued at over $100 million and a 38.25% ownership interest in WLF Holdco LLC.Β
The senator also pointed to recent polling suggesting the American public is more focused on the affordability crisis than on crypto legislation, arguing the Senate is prioritizing a bill that could further benefit the Trump family’s business interests rather than addressing what she described as more pressing economic concerns.
Support Is Growing, Ethics Is StallingΒ
Beyond Warrenβs concerns, Monday was one of the busiest days yet for the CLARITY Act. President Trump posted on Truth Social calling on the Senate to pass the bill in honor of the late Senator Lindsey Graham, whom he described as a “big supporter” of crypto legislation.Β
The Federal Law Enforcement Officers Association (FLEOA) also sent a letter to the Senate Banking Committee backing the CLARITY Actβ the third law enforcement organization to publicly support it this month, joining NOBLE and the Major County Sheriffs of America.
The competing signals arriving on the same day reflect where the CLARITY Act stands heading into its most critical stretch. Ethics provisions remain the central unresolved obstacle β the same issue Warren has been pushing on for weeks. August 7 is the date. Three usable weeks remain.
Featured image generated with OpenArt.Β