Democratic senator accuses Trump of ‘stealing’ from American taxpayers, calls for his impeachment
Seven weeks before the presidential election, in September, the Trump family set foot into the cryptocurrency space by partnering with Steve Witkoff and his sons to start World Liberty Financial. Through a token sale, the platform allows investments, with the Trump family receiving 75% of the proceeds. For Trump, who called Bitcoin a "scam" in 2021, this marks a stark contrast from the family's affiliation to material possessions like resorts and real estate, as reported by ABC. This deviation from Trump's side did not go unnoticed, as Democratic Sen. Chris Murphy has accused that Trump's crypto dealings are worthy of a third impeachment due to embezzlement of taxpayers' funds.
“I know that this president has committed ten times more impeachable offenses in his second term as he did in his first term. He is stealing from the American people,” he said while talking to NBC’s Kristen Welker on "Meet the Press." He labelled his judgment as a result of “common sense.”
“The amount of corruption that he is involved in, taking a luxury private jet from Qatar, trading national security secrets to a foreign nation in exchange for a $2 billion investment in his cryptocurrency. That is wildly corrupt,” he said. “I don't think it's any secret that the president's level of corruption and illegality is nuclear grade in his second term compared to his first term.”
In contrast to several senior Republican members' opinions on impeachment, Democratic Senator Chris Murphy claimed that the president had committed "ten times" more impeachable offenses in his second term than in his first. Murphy disputed former Speaker Nancy Pelosi's assertion that Trump's actions do not satisfy the impeachable criteria during the interview. He brought attention to persistent accusations of Trump engaging in self-dealing, such as charging Secret Service agents at his residences and organizing unethical campaign events. Notably, Trump's cryptocurrency involvement has sparked worries, especially in light of a $2 billion UAE investment in Binance that is connected to his family's commercial ventures.
According to the Constitution, impeachment legislation is started by the House of Representatives. Democrats currently control a minority in both chambers, making it difficult to successfully impeach someone without a two-thirds Senate vote and a majority in the House. As reported by The Independent, if Democrats retake power after the 2026 midterms, interest in impeachment may rise. However, the procedure is still challenging. Murphy stated that any impeachment proceedings are unlikely to make it to the Senate until 2027 and that the House's decisions should be respected. During his first term, Trump was the target of two unsuccessful attempts at impeachment, the second of which saw notable bipartisan defections in the Senate.
Democracy Now reported that President Trump's trip to the Middle East is centered around business opportunities. The region is a crucial profit center for the Trump Organization due to its vast wealth from oil and gas revenues. The Trump family has significant other investments - multiple real estate projects in collaboration with Saudi-based company Dar Global. Despite reduced presence compared to the previous administration, Trump’s sons, Eric and Don Jr., remain active in international ventures tied to the family's business interests, which are raking in millions.
A Reuters investigation revealed that the Trump organization earned $864 million in the first half of 2025, primarily from cryptocurrency ventures such as World Liberty Financial and Trump memecoin, with over 90% of the revenue stemming from these sources. Significant investments included $463 million from World Liberty token sales, notably $75 million from Justin Sun and $100 million from the UAE's Aqua 1 Foundation. The Trump family's crypto endeavors, however, raise ethical concerns regarding potential conflicts of interest, as critics argue that Trump is profiting from regulations he oversees as president.
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