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Democrats in the US are laying the groundwork for a parliamentary inquiry into Donald Trump and his close associates’ involvement in the crypto sphere. According to The Washington Post, this scenario will become a reality if, after the November midterm elections, the party manages to gain control over the House of Representatives. Then, the relevant committees will be able to launch hearings, demand documents, and call witnesses. Preparations are currently in full swing, although the final decisions have not yet been made, and certain areas are already being actively worked out.

The main driving force behind the process is Robert Garcia, a Democratic congressman from California. He is vying for the position of head of the Oversight and Reform Committee in order to lead the investigations. This body has already taken into account the Trump family’s income from cryptocurrency transactions and foreign contracts. According to preliminary estimates, in the first year of his second term, the president received about $2.25 billion from abroad — this amount may well become a central issue at future meetings.

Jamie Raskin, another Democrat from Maryland who is vying for the role of head of the Judiciary Committee, has requested data on investments by the venture firms 1789 Capital and American Ventures, which are linked to Trump’s sons — Donald Jr. and Eric. He wants to find out whether the companies in which the president’s sons invested received benefits from the White House or government contracts. If this is confirmed, the scope of the investigation will expand far beyond cryptocurrencies, touching on issues of the intersection of politics and business.

In addition, Democrats suspect that Trump may have reached an agreement with the IRS to protect the family from audits. They are also looking into the Truth Social social network, which offers paid priority access to the president’s publications, and the activities of his son‑in‑law, Jared Kushner. So far, these are scattered facts, but once most of them are obtained, they can be pieced together into a single picture.

The pardons have become a separate topic for criticism. Democrats sharply condemned Trump for pardoning convicted fraudsters who likely donated money to his election campaigns and were close to his inner circle. Raskin emphasizes that many of those pardoned are spared from making payments to victims. Last year, Trump granted a pardon to the co‑founders of the BitMEX exchange — Arthur Hayes, Benjamin Delo, and Samuel Reed, who admitted guilt in violating banking secrecy. In January 2025, he pardoned Ross Ulbricht, the creator of the Silk Road darknet marketplace, who had received a life sentence for organizing the trade in illegal goods using cryptocurrency. In October, Changpeng Zhao, the head of Binance, who had been convicted of money laundering violations, regained his freedom. Democrats are insisting on a separate investigation into these steps.

They will also review the administration’s other initiatives. Congressman Jared Huffman criticized the plan to pay a German energy company $1.2 billion in exchange for relinquishing the rights to lease land for offshore wind turbines. The deal requires the firm to invest most of these funds in an LNG project in Louisiana, which is linked to one of Trump’s donors. Furthermore, the Democrats will focus on Trump’s construction projects, such as the renovation of the White House and the new ballroom, which, according to them, lacked approvals.

According to the Financial Times last year, Trump’s crypto projects — World Liberty Financial, the WLFI token, the USD1 stablecoin, and the memecoins TRUMP and MELANIA — added about a billion dollars to his family. Eric Trump claimed that launching the crypto was driven by pressure on the family and bank rejections.