Crypto Probe Urged: Warren Targets Trump & SEC
Senator Elizabeth Warren took action on Wednesday, urging the Securities and Exchange Commission (SEC) to investigate potential behind-the-scenes influence. She wants to know if the Trump administration improperly benefited from decisions to ease up on crypto enforcement, potentially favoring figures like Justin Sun, as well as major exchanges Binance and Coinbase.
Warren made her request in a letter addressed to Deborah Jeffrey, the SEC’s Inspector General. Jeffrey’s office is responsible for looking into “allegations of wrongdoing or misconduct involving SEC programs, operations, or personnel.” Warren is essentially asking Jeffrey to dig into whether the SEC itself, individuals within the White House, or anyone connected to Trump’s family and business dealings might have swayed the SEC’s crypto policies.
The core of Warren’s concern is whether these potential influencers profited from any manipulation of crypto policy. “President Trump, his closest advisors, and his family members all stand to benefit from boosts in the crypto industry,” she stated, highlighting the potential for personal gain.
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Warren’s letter points to a notable pattern: the SEC has been dropping or pausing legal actions against a striking number – 12 – of crypto firms. What raises eyebrows, Warren suggests, is that these firms are “founded by President Trump’s donors and business partners.”
She lists prominent examples, including Justin Sun and Tron, along with Consensys, Coinbase, Binance, Kraken, Ripple, Robinhood, Gemini, Yuga Labs, Consensys (again, likely a mention repetition, and perhaps intended to refer to another entity or to emphasize this one), OpenSea, and Uniswap. Specifically, she draws attention to the timing of the pause in Sun’s case, which occurred after his significant $75 million investment in Trump’s World Liberty Financial.
Further fueling conflict of interest concerns, Warren suggests the SEC may be giving memecoins a regulatory pass. This, she notes, could directly benefit Trump and First Lady Melania, both of whom have launched memecoins. Adding another layer to the issue, Warren points to Trump’s SEC chair nominee, Paul Atkins, highlighting his substantial crypto investments and ties to crypto companies that are currently reaping the rewards of the SEC’s less strict approach.
In light of these questions, Warren formally requested the Office of Inspector General to investigate whether the SEC’s actions related to crypto since January 20, 2025, have “complied with all relevant federal ethics laws and SEC policies and procedures.”
Going further, on April 2nd, Warren also co-authored a letter directed to Acting SEC Chair Mark Uyeda. This letter urges the preservation of information related to World Liberty Financial, specifically to determine whether Trump’s crypto venture is exerting undue influence on the SEC.
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