Tuesday, May 6, 2025

Help us stop Trump’s crypto scams, protect consumers, and defend financial justice

 

Americans for Financial Reform


Donald Trump and Elon Musk want to print their own money. Now, they have a bill in the Senate, the GENIUS Act, that would let them do exactly that. No guardrails on their corruption.

The GENIUS Act is a Trojan horse. It would allow corporations like X/Twitter, Meta, and even Trump’s own family firm to create stablecoins, a digital token that is like a private currency. The bill has no meaningful consumer safeguards, will help enable more money-laundering, and pave the way for a major crypto crash.

Last week we learned that the Trump family is making a $2 billion deal with a Middle Eastern fund using his family’s own stablecoin. If that alone wasn’t bad enough, one of the firms involved, Binance, has already admitted to federal money laundering charges. This is exactly the kind of international corruption and legal evasion that the GENIUS Act would legitimize .

Senate Republicans want to fast-track this bill but some Democrats are drawing a line in the sand, demanding real guardrails against corruption, money laundering, and consumer abuse. If they don’t succeed, this dangerous crypto scheme could become law very quickly.

We cannot let that happen. We need to make one thing clear immediately: Tell your Senators to vote NO and block the GENIUS Act, protecting people from Big Tech’s crypto schemes now.

SIGN & SEND

This bill isn’t about innovation, it’s about letting billionaires launder money and political corruption. It opens the door to market manipulation, untraceable bribes, and endless scams. And it will allow Trump and his family to enrich themselves without any meaningful limits.

Trump and Musk want to get rich using stablecoins so they can cash in before the next crash. They’re not afraid of the next crash because, if it happens, they know working people will be left holding the bag. Just like in 2008. Just like with all sorts of crypto scams. Just like with every financial crisis caused by deregulation and greed. We’ve seen what happens when crypto collapses: people lose their savings, markets seize up, and fraudsters walk away rich.

This may be our last real chance to stop the GENIUS Act. And there will be no way to put the toothpaste back in the tube.

Tell your Senators to vote NO and block the GENIUS Act, protect consumers, and stop Trump’s crypto scam. Please sign and send your message now.

Thanks for standing up to billionaire crypto fraud.

-Mark

Mark Hays (he/his)
Associate Director, Cryptocurrency and Financial Technology
Americans for Financial Reform

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