Donald Trump · New York · Decrypt
Senator Gillibrand Seeks to Ban Trump, Elected Officials From Launching Meme Coins
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Following this week's disclosure that President Donald Trump earned more than $1.2 billion from his crypto endeavors last year, New York Senator Kirsten Gillibrand is once more calling for a ban on the issuance and promotion of digital assets for politicians and their spouses.
Key facts
- Following this week's disclosure that President Donald Trump earned more than $1.2 billion from his crypto endeavors last year, New York Senator Kirsten Gillibrand is once more calling for a ban
- The ban would extend to meme coins, which Trump and his wife, First Lady Melania Trump, both benefitted from during the last year, with the president reportedly earning more than $635 million
- Gillibrand, who is among the most pro-crypto Democratic senators, has been leading an ethical charge as it relates to actions of congressional workers
- She also has been vocal about the banning of stock trading for public officials while they are in office
Summary
Kirsten Gillibrand is renewing calls to ban politicians and their spouses from issuing or promoting crypto assets, including meme coins. President Donald Trump disclosed this week that he earned over $1.2 billion from crypto last year, including over $635 million from his Solana meme coin. This push is part of a broader ethics campaign by Gillibrand, who has also worked to restrict congressional trading on prediction markets and stocks, citing concerns about self-dealing and insider trading. The ban would extend to meme coins, which Trump and his wife, First Lady Melania Trump, both benefitted from during the last year, with the president reportedly earning more than $635 million from his Solana-based meme coin alone.