Ro Khanna Proposes Bill to Curb Political Profiteering in Crypto
In late October 2025, Representative Ro Khanna of California introduced a bill named the Ethics in Public Service and Digital Transparency Act. The bill aims to limit financial conflicts of interest among U.S. elected officials, especially concerning cryptocurrencies.
The proposal requires presidents, cabinet members, members of Congress, and their immediate family members to disclose their crypto holdings publicly. It also bans them from launching, investing in, or promoting digital-asset ventures while in office. This move follows President Donald Trump’s controversial pardon of Binance co-founder Changpeng Zhao, also known as CZ, who pleaded guilty to federal money-laundering charges.
Khanna criticized the pardon, calling it corruption visible to the public. He said on October 27, “We have a president who is enriching himself and his family in an obscene wealth that is unprecedented in American history.”
Trump’s Shift to Crypto Ally and Growing Trump Family Crypto Empire
Donald Trump had previously dismissed cryptocurrencies but reversed his stance by 2024. Trump positioned the U.S. as the “crypto capital of the world” and embraced cryptocurrencies to gain political support and financial gain.
Trump became the first U.S. president to accept Bitcoin donations and launched family-branded crypto tokens. His sons, Donald Jr. and Eric, helped start World Liberty Financial Inc. (WLFI), a crypto platform marketing Trump-themed tokens. Melania Trump released NFTs that earned millions.
In September 2025, WLFI’s tokens became publicly tradable, boosting the Trump family’s crypto assets to an estimated $5 billion. The Trump family holds nearly a quarter of all WLFI tokens. WLFI has since outvalued their real estate and other businesses combined.
Binance Pardon Sparks Backlash and Calls for Transparency
Following Trump’s pardon of CZ, Binance began promoting WLFI tokens. Critics, including Senator Chris Murphy and Representative Jerry Nadler, accused the White House of corruption and political favoritism. Murphy tweeted the promotion was “payback” for the pardon.
The White House defended the pardon, blaming the Biden administration for overprosecution. Press secretary Karoline Leavitt asserted the decision was thoroughly reviewed and claimed no conflicts of interest involved the president or his family.
Zhao expressed gratitude for the pardon and a fresh start. Binance denied any political connections to WLFI’s promotion. The firm’s lawyer Wayne F. Dennison emphasized their commitment to compliance and transparency.
The controversy has renewed scrutiny of crypto politics, including Coinbase’s donations to pro-Trump PACs.
Restoring Trust in Crypto and Public Office
Khanna’s bill aims to separate public service from private financial speculation. It requires real-time public disclosure of crypto transactions by officials and audits by an independent ethics board. Experts say this could build credibility in the U.S. crypto industry.
The bill challenges the influence political leaders have on volatile crypto markets, where a single tweet can cause major price swings.
Khanna’s effort faces resistance in the Republican-controlled House, but it sparks debate on power, transparency, and trust in governance.
His proposal raises broader questions:
- Can democracy function when wealth and influence outpace regulation?
- Should officials hold private stakes in sectors they regulate?
- Where does leadership end and profit begin when markets react to political statements?
- How can ordinary investors compete fairly amid powerful influences?
As crypto markets and politics intertwine, Khanna’s bill calls for clearer rules to protect public trust and integrity.
