Crypto.com spent more than a year under investigation by federal regulators, who had signaled that enforcement action was likely. After Trump won the election, the firm hired a lobbyist close to him and donated $11 million to political committees tied to him. Within months, the investigation was dropped. By August 2025, Crypto.com committed roughly $1 billion to a new venture with Trump’s own social media company, which put up little cash yet received a substantial ownership stake. The Associated Press documented the arc, from investigative target to business partner of the president, as a case study in the conflicts of interest of his second term.
SourcesFrom investigation target to the president’s business partner (PBS / Associated Press)
