Senate Democrats Seek Hearings on Trump’s Crypto Holdings Ahead CLARITY Act Text Release

Ranking Democrats on five different committees, including Senator Elizabeth Warren, are calling for hearings to investigate Trump’s crypto holdings. This comes ahead of the reported planned release of the final draft of the CLARITY Act, which could happen as soon as next week.

CLARITY Act: Democrats Raise Concerns About Trump’s Crypto Holdings

In a statement, Senators Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden called o their respective Committees to hold hearings to investigate the national security implications of President Trump’s crypto holdings. The senators made this call, citing the president’s new financial disclosures.

They noted that the president’s disclosures revealed that his family’s crypto ventures generated the vast majority of his income, with about $1.4 billion in crypto earnings. The senators further alluded to the disclosure showing that unknown third parties hold a stake in the Trump Family’s World Liberty Financial. These Democrats also highlighted how these raise concerns regarding the CLARITY Act.

“The disclosures heighten concerns about the President pushing Congress to pass crypto legislation in favor of the very industry he’s cashing in on,” they said. The senators also remarked that it raises concerns about the administration’s move to exempt crypto and service providers from existing financial services regulations and its step to weaken enforcement.

Their statement notably comes ahead of the release of the final CLARITY Act text. As CoinGape reported, a new draft of the crypto bill is expected to drop next week after the Senate Banking Committee and Agriculture Committee merged their versions of the bill.

Senator Warren Insists On Ethics Provision

In an X post, Senator Warren said that the CLARITY Act must prevent the President, Vice President, members of Congress, senior admin officials, and their families from continuing to profit off crypto ventures. This came as she described President Trump’s crypto fit as “corruption” and that Congress has a responsibility to stop it.

This is corruption, plain and simple – and Congress has a responsibility to stop it.

The Clarity Act must prevent the President, Vice President, members of Congress, senior admin officials, and their families from continuing to profit off crypto ventures. https://t.co/QB8p4AgR8s

— Elizabeth Warren (@SenWarren) July 9, 2026

Notably, President Trump’s $1.4 billion in crypto income was higher than that of any publicly traded crypto firm last year. However, the president denied any knowledge of the crypto earnings, saying there was nothing illegal if he did.

The inclusion of an ethics provision in the CLARITY Act remains a key issue even as the Senate prepares to release the final draft text. Democrats have signaled that they will ot vote for the bill if it doesn’t include an ethics provision.

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