Fox News host Jessica Tarlov called out what she sees as a glaring double standard when it comes to President Donald Trump and cryptocurrency.
Speaking on a recent episode of “The Five,” Tarlov said, “If a Democratic president said, ‘Here’s my crypto account, just send money directly to me,’ Republicans would lose their minds. Because it’s Donald, everything is fine.”
She posted a similar message on X, reiterating her criticism of the double standard.
Her comments come amid growing criticism of President Trump’s close ties to the cryptocurrency industry and his family’s deep financial involvement.
Since returning to the office, Trump has aggressively promoted crypto, rolling back regulations and helping firms connected to his family thrive.
Trump Family’s Crypto Business Booms
One of those companies, World Liberty Financial, is heavily backed by Trump’s sons Eric and Don Jr.
The firm launched its own stablecoin, USD1, and has raised more than $500 million.
The Trump family reportedly controls most of the business and stands to collect around $400 million in fees and 75% of token sale revenues.
Deregulation and Dropped Cases Spark Backlash
At the same time, Trump has staffed key agencies with crypto-friendly allies and gutted enforcement.
The Securities and Exchange Commission has dropped or paused several investigations, including one involving Justin Sun, a major investor in World Liberty Financial.
Critics, including Sen. Elizabeth Warren of Massachusetts, say this is no coincidence.
“Donald Trump is enriching himself and his family through their crypto businesses while his administration guts oversight of the market,” Warren said.
“It’s a massive conflict of interest and a recipe for disaster.”
Trump Doubles Down at Crypto Summit
Adding fuel to the fire, Trump issued an executive order in March to create a national stockpile of bitcoin and hosted a private crypto summit with top industry executives.
There, he declared, “I promised to make America the bitcoin superpower of the world and the crypto capital of the planet.”
Critics say the president is blurring the lines between policy and profit.
“Trump’s connection to the crypto industry is much more than the appearance of a conflict,” said Kedric Payne, general counsel at the Campaign Legal Center.
“His financial interests in crypto are a clear and present conflict because he is personally championing laws to promote the industry.”
Tensions Rise on Fox News Panel
In the Fox News segment, co-hosts debated whether Trump’s actions would be tolerated if a Democrat did the same.
While Tarlov emphasized due process and the need for consistent standards, others on the panel defended Trump’s crypto advocacy.
Crypto Tied to Illicit Activity
Meanwhile, watchdogs are raising broader concerns. Recent reports show that cryptocurrencies are being used for illicit activities, including money laundering tied to fentanyl exports from China.
A TRM Labs study found that 97% of Chinese factories involved in synthetic opioid production accepted crypto payments in 2023, totaling $26 million.
Warren warned that current Senate legislation could make things worse.
“Instead of addressing the real dangers posed by crypto money laundering, Senate Republicans are pushing the so-called Genius Act without basic safeguards,” she said.
“That would pave the way for criminals, terrorists, drug cartels and foreign adversaries to exploit the financial system.”
The Trumps Press Forward
Despite the backlash, the Trump family is pressing forward. Don Jr. and Eric have announced new ventures, including a bitcoin mining operation called American Bitcoin.
Don Jr. recently said he was drawn to crypto after seeing how the financial system treats conservatives. “The sky is the limit for this,” he said.
As Trump continues to dismantle oversight and expand his family’s crypto footprint, critics say the president is using his power to boost his bottom line—and daring anyone to stop him.
“Trump’s crypto deregulation isn’t about innovation,” Warren said. “It will mean opening the door for more fraud, more pump-and-dump schemes, and more financial instability that puts everyday Americans at risk.”
For now, Trump’s allies cheer him on, and critics keep raising alarms. But as Jessica Tarlov pointed out, the silence from the right might say more than the policies themselves.