Our Revolution, a grassroots organization, hosted a national organizing call Monday night with Sens. Elizabeth Warren and Jeff Merkley to discuss the GENIUS Act, legislation that provides rules to govern the stablecoin sector, and mobilize a people-powered firewall against what it says is the crypto-corporate takeover of U.S. democracy.
According to Our Revolution, the GENIUS Act would “open the floodgates to untraceable crypto donations, deregulate stablecoins, and allow elected officials—including Trump himself—to personally profit from crypto ventures.”
Warren laid out how Trump’s crypto scheme functions as a direct channel of personal profit, stating, “Trump and his family can make money off these stablecoins in two ways. Every time somebody uses a stablecoin, there’s a transaction fee—Trump gets a piece of that. The second way? He gets to use your dollar like an interest-free loan.
“This is not some small, corrupt grift on the side. Trump’s stablecoin is now the fifth largest in the entire world, and just one deal, like the $2 billion investment from Abu Dhabi. could earn him more than $100 million this year alone…This bill does nothing—to address Trump’s corruption. In fact, it makes it worse by driving even more money into crypto markets and expanding the reach of Trump’s coin.”
“This is about the direct corruption of our elected officials,” Merkley added. “Thirty years ago, if a lobbyist bought 10,000 copies of a senator’s book to help them make money, that was considered an unethical gift—we banned it. Now, we have President Trump openly driving a crypto economy for his personal gain, not just through one coin, but through multiple ventures, including a meme coin. It’s not public service. It’s self-service on a global scale.”
Our Revolution said key takeaways from the organization call included:
- The GENIUS Act would legalize anonymous crypto donations and open the door to foreign interference through blockchain-backed pay-to-play politics, handing even more power to billionaire speculators and Trump’s inner circle.
- Trump’s crypto firm, World Liberty Financial, is actively brokering international investment deals, including a $2 billion agreement with a UAE-backed fund, while pushing legislation in the U.S. Senate that would directly benefit his personal holdings and expand his financial empire.
- The crypto industry allegedly funnelled more than $200 million into the 2024 election cycle. Now they’re demanding a return on their investment through deregulation, secrecy, and direct access to power.
More than 10,000 Our Revolution members have already signed a petition urging Senate Democrats to vote no on the GENIUS Act and block “this unprecedented conflict of interest.”
“This is a critical moment,” said Joseph Geevarghese, executive director of Our Revolution.“We’re calling on every elected Democrat to take a stand against this corruption—and on every grassroots organizer to mobilize, call your senator, and help stop the bill before it’s too late.
Donald Trump and his inner circle aren’t just playing the crypto game—they’re rigging it, turning crypto policy into a personal profit machine and threatening the foundation of our democracy in the process.”