Former White House Communications Director Anthony Scaramucci has issued a stark warning regarding Donald Trump’s growing involvement in cryptocurrency, suggesting it may open doors to corruption and bribery.
Speaking at the Financial Times Digital Asset Summit, Scaramucci expressed concerns that Trump’s crypto-related ventures—such as the controversial TRUMP meme coin and World Liberty Financial—are not only distractions from meaningful regulation but also potential avenues for misconduct.
“Let’s give them the benefit of the doubt,” Scaramucci said. “But I do think there’s pathways for some level of corruption, potential bribery, and sinistership.”
Scaramucci, the founder of SkyBridge Capital, emphasized the importance of eliminating these distractions to gain bipartisan support for clear crypto legislation, especially among older, skeptical lawmakers.
Millions Lost While a Few Gain from TRUMP Coin
New data from Chainalysis, shared with CNBC, revealed troubling disparities: out of 2 million wallets holding the TRUMP meme coin, 764,000 wallets have lost money, while just 58 wallets have earned over $10 million each, totaling around $1.1 billion in profits.
Interest in the TRUMP coin skyrocketed after its website announced that the top holders would be invited to a private dinner with Donald Trump on May 22 at Trump National Golf Club in Washington, D.C. This announcement pushed the coin’s market cap to $2.7 billion, attracting 54,000 new wallets within days.
Criticism of Trump’s Executive Order on Bitcoin Reserve
Although critical of Trump’s crypto ventures, Scaramucci gave the former administration a “B-plus, A-minus” for its broader digital asset policies. He commended adviser David Sacks for building bipartisan momentum toward a U.S. Bitcoin stockpile.
However, he criticized Trump’s executive order establishing a national Bitcoin reserve, warning that such a move could be reversed by a future Democratic president. Instead, Scaramucci called for bipartisan legislation to solidify any such initiative.
Senate Scrutiny Intensifies
Due to the high concentration of insider profits and the opaque structure behind Trump-linked crypto projects, Senate lawmakers are now investigating potential conflicts of interest, ownership transparency, and possible misuse of political influence.
Scaramucci’s warning—“Trump’s crypto moves may open doors to corruption”—is resonating amid mounting scrutiny over the legitimacy and ethics behind these digital ventures.
