A Senate investigation has begun into former President Donald Trump’s involvement with cryptocurrency ventures, raising concerns about ethics and potential conflicts of interest. The inquiry focuses on Trump’s ties to World Liberty Financial Inc., the issuer of a USD1 stablecoin, as well as his association with the $TRUMP memecoin, triggering scrutiny of regulatory frameworks. Senators argue that Trump’s financial dealings with cryptocurrency projects, including potentially manipulating market values through competitions hosted at the White House, represent an unprecedented pay-to-play scheme that could influence access to the presidency for personal gain. The investigation is likely to impact stablecoin regulations and legislative efforts around them, potentially creating a shift in political and financial landscapes. While similar probes into political figures’ cryptocurrency involvement are rare in U.S. politics, this inquiry raises questions about foreign influence on American governance. This probe could lead to increased scrutiny and stricter oversight of political figures’ ties to cryptocurrencies.