There is no exact public report on the specific event of “House Democrats Take Aim at Trump Wallet Tied to Official Solana Meme Coin”. However, based on the known information about Trump and cryptocurrency, the following background and possible related content are as follows:
Trump’s Involvement in Cryptocurrency
Issuance of Trump Meme Coin: On January 17, 2025, Trump announced on social media that he would issue his own cryptocurrency, $TRUMP (Trump Meme Coin), on the Solana blockchain. It is said that when Trump issued the coin, he was hosting a reception for cryptocurrency investors.
Proposal for Cryptocurrency Strategic Reserve: On March 2, 2025, Trump announced on his self – created social media “Truth Social” that he would include five digital currencies, namely Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA), in the new cryptocurrency strategic reserve of the United States. This move caused the market value of these digital currencies to soar. In addition, Trump’s sons Donald Jr. and Eric founded World Liberty Financial (WLF), which not only issued “strategic token reserves” but also planned to set foot in DeFi (decentralized finance), forming a synergistic effect with Trump’s “regulatory relaxation” policy. On May 21, 2024, Trump announced that he would accept Bitcoin, Ether, Dogecoin, Solana, and other cryptocurrencies as donations.
Possible Reasons for House Democrats’ Actions
Conflict of Interest Issues: Trump and his wife Melania have both launched their own – brand meme coins, which has attracted accusations that they are trying to profit from Trump’s political success. House Democrats may be concerned that Trump’s cryptocurrency – related actions involve conflicts of interest and violate ethical and legal norms. If Trump uses his political influence to promote the development of certain cryptocurrencies for personal gain, it will damage the public interest and the fairness of the political arena.
Regulatory and Policy Differences: There are differences in views on cryptocurrency regulation between the Democratic and Republican parties. The Biden administration has taken a series of measures to crack down on cryptocurrency companies, aiming to “protect Americans from fraud and money laundering”. House Democrats may believe that Trump’s support for cryptocurrencies and his plan to include them in the strategic reserve go against the current regulatory direction and pose risks to the financial system and social stability. They may, therefore, take action to oppose Trump’s cryptocurrency – related actions to safeguard the effectiveness and consistency of financial regulation.
Related topic:
- Ethereum Foundation unveils comprehensive treasury plan to balance capital and privacy commitments
- ystemic risk on the rise as leverage interdependencies tighten between CeFi, DeFi and crypto treasuries
- Nasdaq-listed K-Pop media firm K Wave stock rallies 130% after announcing Bitcoin acquisition strategy
