The lawsuit comes as some crypto enthusiasts turn on Trump over his profiting off the industry while in office. The president and his representatives have always said his crypto investments are above board, with a White House spokesperson calling the new lawsuit “frivolous” and adding, “There are no conflicts of interest.” A World Liberty spokesperson called the lawsuit “without merit” and has previously said Trump had no role in the company.
Such claims are disputed by people like Protect Democracy’s executive director, Ian Bassin, who has argued that Trump’s crypto dealings are blatantly unconstitutional. And Matt Pelikan, a lawyer whose firm filed the lawsuit, said in a statement:
President Trump has turned his office into a source of private profit on a scale without precedent in American history. The President’s business dealings are not only corrupt, they are illegal.
This lawsuit only stands to fuel voters’ anger over government corruption: A recent Fox News poll showed nearly 9 in 10 voters as extremely or very concerned about corruption. So, with the midterms less than two weeks away, anything that stands to remind the public about Trump’s terrible track record on this issue seems like a threat to Republicans’ electoral hopes.
