U.S. Congressman proposes banning Trump and Congress from trading cryptocurrency and stocks
Concerns about conflicts of interest between Trump and the cryptocurrency industry
Congressman Ro Khanna (Democratic Party, California) has just called for a ban on President Donald Trump, his family, and members of Congress from engaging in cryptocurrency or stock transactions, after expressing concerns about conflicts of interest between Trump and the World Liberty Financial (WLFI) project – a crypto company co-founded by his son, Eric Trump.
Khanna accused the pardon for Changpeng “CZ” Zhao, co-founder of Binance, of being an act of "blatant corruption." He said:
"A foreign billionaire accused of money laundering was pardoned by Donald Trump after funding terrorists. That is simply unacceptable."
Allegations that Binance supports the Trump family's crypto project
Khanna believes that CZ is being "let off easy" because Binance has invested in WLFI, a project said to bring millions of USD in profits to the Trump family.
He added:
"CZ said he would support World Liberty – the president's son's crypto company – and in return, Trump would grant a pardon, while they are issuing a stablecoin linked to Trump's name."
However, Eric Trump completely denies his father's involvement, emphasizing: "My dad is running the country, he has nothing to do with our business."
Meanwhile, CZ also rebutted the accusations from Senator Elizabeth Warren, stating that she "is not aware of the facts."
Representative Khanna is suspected of hypocrisy as he himself has made significant investments
Although he has called for a ban on officials owning crypto or receiving money from abroad, data from Quiver Quant shows that Ro Khanna has executed over 35,000 stock transactions, with a total value of over 580 million USD since 2017.
In 2025 alone, he had a transaction volume of up to 80.3 million USD, focusing on three sectors: finance, information technology, and healthcare.
This has led observers to believe that Khanna's call for "ethical behavior" is somewhat hypocritical, especially since he has yet to officially submit the aforementioned bill.
