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us justice department
'What Corruption Looks Like': Trump DOJ Disbands Crypto Enforcement Unit
President Donald Trump and his family have a direct financial stake in the cryptocurrency industry, which pumped tens of millions of dollars into the 2024 election.
Apr 08, 2025
The Trump administration on Monday delivered another gift to cryptocurrency giants by directing federal prosecutors to curtail their focus on the industry and disbanding a U.S. Justice Department unit tasked with investigating and pursuing cases against criminal actors in the digital asset space.
The decision to dismantle the National Cryptocurrency Enforcement Team, which the Biden administration established in 2021, was laid out in a memo authored by Deputy Attorney General Todd Blanche, who previously served as President Donald Trump's personal defense attorney.
Fortune first reported the existence of Blanche's memo on Tuesday and noted that other agencies—including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission—have received similar directives from leadership.
The new memo declares that the Justice Department "is not a digital assets regulator" and that the agency, now under the leadership of Attorney General Pam Bondi, will narrow its focus to prosecuting individuals who victimize digital asset investors, or those who use digital assets in furtherance of criminal offenses such as terrorism, narcotics and human trafficking, organized crime, hacking, and cartel and gang financing."
CNBCreported that the memo "explicitly states" that the Justice Department "will not pursue enforcement against crypto exchanges, mixing and tumbling services, or offline wallets for the actions of their users or 'unwitting violations of regulations'—marking a major departure from prior policy."
"Prosecutors are instructed not to charge violations of financial laws, such as unlicensed money transmission and unregistered securities offerings unless they can prove the defendant knew of the rules and willfully broke them," the outlet added.
"There's never been a better time to be a white-collar crook."
Cryptocurrency giants and industry-allied super PACs pumped tens of millions of dollars into the 2024 election—largely on the side of Republicans—and donated to Trump's inaugural committee, spending viewed as an attempt to influence the administration's regulatory posture.
Additionally, Trump and his family have a financial stake in the industry: Reutersnoted Tuesday that on top of the president and first lady's meme coins, "the Trump family has a claim on 75% of net revenues from token sales by World Liberty Financial, a crypto venture."
Trump’s family owns and invests in crypto businesses. Trump launched his own meme coins. The crypto industry gave his campaign at least $119M. Crypto CEOs chipped in $30M more. Now, his DOJ shut down the team investigating crypto fraud. This is what corruption looks like.
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— Melanie D’Arrigo (@darrigomelanie.bsky.social) April 8, 2025 at 12:31 PM
Blanche's memo comes weeks after Trump's SEC agreed to drop a lawsuit against the crypto exchange giant Coinbase, a move that one watchdog described as a "massive gift" to the cryptocurrency industry.
The Associated Presscharacterized the new memo as "part of a larger move by the Justice Department to step back from certain white-collar enforcement."
A tracker run by the consumer advocacy group Public Citizen shows that the Trump administration has "halted, dropped, or withdrawn enforcement actions against more than 100 corporations" so far.
The list includes several cryptocurrency companies, including Crypto.com, which was facing an SEC probe.
"There's never been a better time to be a white-collar crook," Axios' Dan Primack wrote last month after Trump pardoned the three co-founders of the cryptocurrency exchange BitMEX.
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'Profoundly Dangerous': Trump Moves to Seize Control of Independent Agencies
"Americans should understand exactly what this is: A giant gift to the corporate class and a Trumpian power grab."
Feb 19, 2025
U.S. President Donald Trump on Tuesday signed an executive order aimed at bringing the nation's independent agencies—including the Federal Trade Commission and Securities and Exchange Commission—under his control, a sweeping power grab that's expected to spark a legal fight with enormous stakes for the country.
The new executive order, titled "Ensuring Accountability for All Agencies," laments that previous administrations "have allowed so-called 'independent regulatory agencies' to operate with minimal presidential supervision" and states that, going forward, "the president and the attorney general, subject to the president's supervision and control, shall provide authoritative interpretations of law for the executive branch."
The order goes on to require that "all executive departments and agencies"—including those granted some independence from the presidency by Congress—"shall submit for review all proposed and final significant regulatory actions to the Office of Information and Regulatory Affairs (OIRA) within the Executive Office of the President before publication in the Federal Register."
OIRA is part of the Office of Management and Budget, which is run by Project 2025 architect and far-right extremist Russell Vought.
In a fact sheet released alongside the order, the White House specifically names the FTC, the SEC, and the Federal Communications Commission (FCC) as agencies it claims have "exercised enormous power over the American people without presidential oversight."
The new order exempts from its far-reaching mandates the "monetary policy functions of the Federal Reserve."
"Not incidentally, both the FTC and SEC have ongoing investigations or enforcement actions against companies owned by Elon Musk."
Robert Weissman, co-president of Public Citizen, said in a statement that the executive order marks an "illegal" attempt to "shield corporations from accountability and centralize more power with Trump and his minions."
"This is a profoundly dangerous idea for the nation's health, safety, environment, and economy—and for our democracy," he added. "Congress made independent agencies independent of the White House for good reason."
Weissman noted that the independence of agencies such as the FTC and SEC is "designed to enable them to perform these duties without undue political pressure from giant corporations, the super-rich and the super-connected."
"Trump's EO would dissolve that independence and put the agencies under Trump's thumb, ensuring they turn a blind eye to wrongdoing by favored corporations and leave consumers and investors out to dry," Weissman continued. "Not incidentally, both the FTC and SEC have ongoing investigations or enforcement actions against companies owned by Elon Musk. Americans should understand exactly what this is: A giant gift to the corporate class and a Trumpian power grab."
The Washington Postreported that Trump's order sets the stage for "a potential Supreme Court fight that could give him significantly more power over those agencies' decisions, budgets, and leadership." Trump has already trampled decades of legal precedent by firing protected officials without cause, including the former chair of the National Labor Relations Board (NLRB).
"Courts have blocked or limited the reach of some of Trump's executive actions, but legal observers expect that the conservative-dominated Supreme Court may be open to broadening presidential power in at least some of the cases," the Post observed. "The justices are already considering a case regarding the scope of Trump's power over independent agencies, and Tuesday's executive order seems sure to prompt additional legal challenges."
Deborah Pearlstein, a constitutional scholar at Princeton University, told the newspaper that the White House is "deliberately teeing up a major question of constitutional law that will go to the Supreme Court for review."
The Supreme Court is currently controlled by a right-wing supermajority that includes three Trump-appointed justices.
Prior to Trump's order, the U.S. Justice Department—headed by Attorney General Pam Bondi—indicated that it would no longer defend the independence of the NLRB, FTC, and other agencies and would ask the Supreme Court to reverse precedent that has shielded independent agency leaders from termination without cause.
Reutersreported that "about two dozen companies, including Amazon and Elon Musk's SpaceX, have filed lawsuits since last year claiming the president should have the power to fire NLRB members at will."
"Several companies sued by the FTC have filed similar challenges against that agency," the outlet added. "They include Meta Platforms, Walmart, and Cigna's Express Scripts."
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Trump Justice Department Moves to Complete 'Openly Corrupt Legal Bailout' of Eric Adams
"The Adams case confirms that as long as Bondi is in office, the rule of law will be subordinate to Trump's personal motivations."
Feb 15, 2025
U.S. President Donald Trump's Justice Department formally moved Friday night to drop charges against Democratic New York City Mayor Eric Adams after at least seven federal prosecutors resigned, refusing to carry out what's been described as an "openly corrupt legal bailout."
In a new filing signed by veteran prosecutor Edward Sullivan, the Department of Justice requested "dismissal without prejudice of the charges" against Adams, who was indicted last year on multiple counts of wire fraud, bribery, and soliciting illegal foreign campaign donations after an investigation that began in 2021. "Without prejudice" means the charges could be brought again.
It's an open question how Dale Ho, the judge overseeing the case, will respond. Some experts say he could reject the DOJ's request on the grounds that it is politically motivated.
The Justice Department, led by Attorney General Pam Bondi and Acting Deputy Attorney General Emil Bove, has said openly that its push to dismiss the charges against Adams has nothing to do with the "strength of the evidence" against Adams.
Rather, the decision is a remarkably transparent effort to ensure the New York City mayor's full cooperation with Trump's anti-immigrant agenda.
Sullivan reportedly signed the new Justice Department filing under significant duress. According to Reuters, Bove "told the department's career public integrity prosecutors in a meeting on Friday that they had an hour to decide among themselves who would file the motion," signaling they would all be fired if no one capitulated.
"The volunteer was Ed Sullivan, a veteran career prosecutor, who agreed to alleviate pressure on his colleagues in the department's public integrity section," Reutersreported, citing two unnamed sources. "Sullivan's decision came after the attorneys in the meeting contemplated resigning en masse, rather than filing the motion to dismiss... There are approximately 30 attorneys in the Public Integrity Section."
"I expect you will eventually find someone who is enough of a fool, or enough of a coward, to file your motion. But it was never going to be me."
Brewing opposition inside the Justice Department exploded into public view this week as prosecutors opted to step down rather than carry out the DOJ leadership's orders to seek dismissal of the Adams charges.
Danielle Sassoon, former interim U.S. Attorney for the Southern District of New York who announced her departure earlier this week, wrote in a letter to Bondi on February 12 that she was "baffled by the rushed and superficial process" by which the decision to drop the charges against Adams was reached, "in seeming collaboration with Adams' counsel and without my direct input."
In a footnote of the letter, Sassoon described a meeting she and members of her team attended with Bove—who previously served as a member of Trump's personal legal team—and Adams' counsel.
"Adams' attorneys repeatedly urged what amounted to a quid pro quo, indicating that Adams would be in a position to assist with the department's enforcement priorities only if the indictment were dismissed," Sassoon wrote. "Mr. Bove admonished a member of my team who took notes during that meeting and directed the collection of those notes at the meeting's conclusion."
Shortly before the Justice Department submitted its new filing on Friday, Hagan Scotten, a federal prosecutor assigned to the Adams case, announced his resignation in a scathing letter to Bove.
"No system of ordered liberty can allow the government to use the carrot of dismissing charges, or the stick of threatening to bring them again, to induce an elected official to support its policy objectives," Scotten wrote. "Any assistant U.S. attorney would know
that our laws and traditions do not allow using the prosecutorial power to influence other citizens, much less elected officials, in this way."
"If no lawyer within earshot of the president is willing to give him that advice, then I expect you will eventually find someone who is enough of a fool, or enough of a coward, to file your motion," he added. "But it was never going to be me."
Ahead of the DOJ's filing, Adams appeared on "Fox & Friends" alongside Trump immigration czar Tom Homan in what one observer characterized as a hostage video "broadcast live on national television."
During the segment, Homan smilingly threatened that if Adams "doesn't come through" for the Trump administration, "we won't be sitting on a couch; I'll be in his office, up his butt, saying, 'Where the hell is the agreement we came to?'"
In a separate sitdown with Homan on Thursday, Adams committed to "return federal immigration agents to the Rikers Island jail complex in New York City," Politicoreported.
Thinly veiled Homan warning to Adams: “If he doesn’t come through … I’ll be in his office, up his butt, saying, Where the hell is the agreement we came to” pic.twitter.com/Pq0msJXZGb
— Emily Ngo (@emilyngo) February 14, 2025
In a column on Friday, The American Prospect's Ryan Cooper and David Dayen wrote that it is "striking just how awesomely gratuitous this all is."
"Nixon sacked his attorney general because the investigation was closing in on him personally and he wanted to escape. It was corrupt, but it made sense as a desperate last-ditch effort," they wrote. "Trump is letting Adams off the hook because he wants a stooge dependent on his goodwill in the mayor's seat while his deportation goons run riot in New York. That's a modest benefit at best; the mayor has limited tools to prevent ICE operations, though he's already offered up Rikers Island, the notorious prison that was due to close, as a migrant detention center."
"And it shows that the most willing enabler of Trump corruption in the entire government is Attorney General Bondi," Cooper and Dayen added. "This is approximately how she ran the Justice Department in Florida, doing favors for her donors and allies while firing attorneys in the department who got in the way, like the prosecutors looking into foreclosure fraud. The Adams case confirms that as long as Bondi is in office, the rule of law will be subordinate to Trump's personal motivations."
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