Host John Oliver dedicated a segment on "Last Week Tonight" to examining what he described as "flagrantly corrupt" ethics concerns surrounding Donald Trump and his family's cryptocurrency businesses. Oliver expressed worry about the potential conflicts of interest, stating that clearer guardrails are needed.
Oliver noted a significant shift in Trump's public statements regarding cryptocurrency. In 2021, Trump referred to Bitcoin as a "scam" and a "disaster waiting to happen." However, his stance appears to have changed, with reports indicating his personal income surged to $2.2 billion in 2025, largely attributed to his family's crypto ventures. Oliver suggested Trump recognized the substantial personal financial gains possible from speculative assets.
Oliver also addressed Trump's remarks at a 2024 Bitcoin conference, where he vowed to remove Gary Gensler, the Securities and Exchange Commission (SEC) chair under the Biden administration, on his first day in office. Gensler had previously characterized the crypto market as the "Wild West."
According to The New York Times, the SEC has reportedly eased up on more than 60% of its ongoing crypto cases after Trump's return to office. Oliver also highlighted the proposed Clarity Act, which he argued would move cryptocurrency regulation from the SEC to the less investor-focused Commodity Futures Trading Commission, potentially benefiting Trump as he continues to engage with the crypto market.