President Donald Trump Family Linked to Dropped Crypto Cases, NYT Investigation Reveals

TLDR

• The New York Times reports that President Donald Trump and his family may have benefited financially from settled crypto cases.
• The investigation highlights that several crypto enforcement actions were dropped or scaled back after Trump’s second term began.
• The report suggests that some of the cases involved companies with political or financial ties to Trump and his family.
• One example involves the Winklevoss twins’ crypto company, which saw its lawsuit paused after Trump took office.
• The SEC abandoned its case against Binance shortly after Trump’s second term began.

A recent investigation by The New York Times has accused President Donald Trump and his family of benefiting financially from crypto cases that were settled after he took office. The report claims that some cases were dismissed or scaled back after Trump’s second term began. These actions allegedly involved companies with financial or political ties to Trump and his family.

Crypto Enforcement Actions Linked to Donald Trump’s Administration

The New York Times’ investigation highlights several crypto enforcement actions that were either dropped or scaled back once Donald Trump entered his second term. One example cited in the report is a case involving the Winklevoss twins’ crypto company. The lawsuit against their company was notably paused shortly after Trump took office, while other companies like Binance saw similar outcomes when the SEC abandoned its case.

The report also points to Ripple Labs, whose case faced a sudden reduction in penalties. After years of litigation, the SEC proposed lowering Ripple’s $125 million penalty to just $50 million after Donald Trump re-entered the White House. These shifts have been described as unusual since the SEC rarely reverses its position on ongoing cases, especially in the crypto sector.

Donations and Business Links Raise Questions

The New York Times further claims that some of the legal outcomes were linked to donations or business ties to Trump’s family. In one case, crypto founder Justin Sun’s company Tron reportedly formed financial ties to Trump’s businesses. Trump’s family businesses allegedly benefited from these connections, which may have influenced the SEC’s decisions to scale back or dismiss the cases.

Lawyers representing Trump’s family businesses deny any link between government decisions and private business dealings. However, the fact that the SEC withdrew from over 60% of crypto-related cases during Trump’s second term has raised concerns about possible conflicts of interest. The SEC’s actions stand in stark contrast to how the agency handled crypto cases during previous administrations.

SEC’s Approach Under Trump Compared to Biden’s Era

Under Joe Biden’s administration, the SEC did not dismiss any inherited crypto cases. In fact, Biden’s SEC continued pursuing crypto-related cases, even those started during Trump’s first term. By contrast, the Trump administration saw the SEC scale back its approach to crypto regulation significantly, leading to questions about possible favoritism toward companies with ties to the president.

As the investigation unfolds, these findings continue to raise questions about the relationship between political influence and financial outcomes in the crypto industry. The SEC’s leniency toward certain companies has become a focal point in discussions surrounding Trump’s influence over regulatory actions.

The post President Donald Trump Family Linked to Dropped Crypto Cases, NYT Investigation Reveals appeared first on CoinCentral.