Bill Hagerty requests investigation into Trump Jr. and Hunter Biden's crypto ventures

Senator Bill Hagerty, the Republican from Tennessee, on Tuesday called for a congressional investigation into the cryptocurrency activities of the sons of former President Donald Trump and President Joe Biden, saying the deals raise “serious conflict‑of‑interest questions” that merit oversight. Hagerty’s request comes as both families face scrutiny over how their private business ventures intersect with public office.

The demand arrives after months of bipartisan pressure to examine the Trump family’s crypto dealings. In 2023, the House Oversight Committee began probing Eric Trump’s involvement with a digital‑asset fund that raised more than $30 million from investors linked to the former president’s political network. At the same time, federal prosecutors have been reviewing Hunter Biden’s role in a cryptocurrency investment partnership that attracted roughly $50 million from venture capital firms and private donors, some of whom have ties to the current administration. Democrats have long argued that the Biden son’s crypto work could be a conduit for influence‑peddling, while Republicans have focused on the Trump family’s alleged use of crypto to bypass sanctions and launder money. Hagerty said the parallel investigations underscore a broader pattern of presidential relatives leveraging emerging financial markets for personal gain.

Hagerty’s letter to the Senate Finance Committee cites specific transactions: Eric Trump’s 2022 stake in a blockchain startup that issued a token valued at $12 million, and Hunter Biden’s 2021 advisory role with a crypto‑exchange that processed $200 million in trades before its abrupt shutdown. Both deals were disclosed in financial statements, but critics argue the timing—coinciding with campaign cycles and policy debates on digital assets—creates the appearance of impropriety. The senator also noted that the Treasury’s recent guidance on “politically exposed persons” in crypto has yet to be fully enforced, leaving a regulatory gap that could be exploited by insiders.

The call for a probe could trigger hearings before the Senate Banking Committee, where lawmakers may subpoena documents and compel testimony from the Trump and Biden families. If investigators find evidence of wrongdoing, it could lead to referrals to the Department of Justice or the Financial Crimes Enforcement Network. Politically, the move deepens the partisan fight over accountability for high‑profile families and may pressure both parties to tighten crypto oversight ahead of the 2026 elections. The outcome will likely shape how Congress regulates digital assets and monitors the financial activities