U.S. Senator Kirsten Gillibrand renewed her call to bar elected officials and their spouses from issuing or sponsoring digital assets after President Donald Trump’s latest financial disclosure. The filing, released on July 1, showed that Trump earned more than $636 million in 2025 from the $TRUMP memecoin, prompting Gillibrand to press again for ethics rules covering the president, members of Congress, and their families.
Journalist Eleanor Terrett said Gillibrand revived the proposal after Trump’s disclosure listed the TRUMP memecoin as his largest source of income in 2025. That detail put the token at the center of a fresh ethics debate. Gillibrand said public officials and their spouses should not issue memecoins, and that officeholders should not be able to profit from digital asset arrangements while serving.
Trump disclosure expands focus beyond the memecoin
Separate reports said Trump’s broader crypto businesses generated more than $1.2 billion during the year. The filing also included income tied to World Liberty Financial, with reports estimating the project produced between $524 million and $594 million.
First Lady Melania Trump also launched a memecoin. In a separate disclosure, she reported about $6 million from NFTs and other digital collectibles. Gillibrand said ethics reforms should block officeholders and their spouses from using digital assets as a source of personal profit.
She wants ethics rules written into future crypto bills
Gillibrand has backed legislation with several colleagues that would prohibit elected officials and their spouses from issuing or sponsoring digital assets. According to her statement, the proposal would apply to President Trump as well. She said there should be broad bipartisan support for that ethics standard.
Gillibrand also argued that consumer protection, anti-illicit-finance efforts, and financial opportunity should not be weakened by self-dealing. Earlier this year, she said no crypto legislation would move ahead without an ethics provision that covers the president’s digital asset activity.
Broader scrutiny also reaches Gillibrand
Terrett noted that Gillibrand has faced added scrutiny after reports that her son raised funding for a perpetual futures exchange. Those reports also said the platform will not use crypto or blockchain technology, though Ripple co-founder Chris Larsen supports the project.
Beyond crypto ethics, Gillibrand has supported legislation aimed at prediction markets this year. She has also long backed banning members of Congress and their spouses from owning or trading stocks while in office.