PakGazette — TD Cowen CEO Jaret Seiberg expressed concern that the recent issuance of a Donald Trump meme coin could pose challenges to bipartisan efforts to pass legislation on cryptocurrency market structure.
According to the analyst, Democrats are expected to seek detailed information about the buyers of the coins, potentially to determine whether foreign governments or companies used the tokens to curry favor with the Trump team.
“This jeopardizes the ability to advance the cryptocurrency bill with the bipartisan support it will need to become law,” Seiberg said in a note.
He noted that the introduction of the Trump coin could lead to greater demands for transparency from Democrats regarding buyers and the reasons behind the coin’s price increase.
“They will look for signs that foreign governments, foreign companies and domestic companies are using the currency to influence Trump’s decision-making. They will also demand details about how the Trump family is monetizing this investment,” Seiberg explained.
In turn, Republicans will likely respond to these queries, the analyst added, which could increase partisan tensions and complicate the search for a bipartisan agreement on the structure of the cryptocurrency market.
“We also do not expect the Trump family or the Trump administration to cooperate with any Democratic investigation,” he added.
Seiberg suggests that a possible solution to this impasse could be a two-pronged strategy in which Democrats conduct an investigation into Trump’s currency separately from legislative efforts. This approach could allow progress on the market structure bill to continue while also addressing concerns about the Trump family’s cryptocurrency company.
Despite these complications, Seiberg believes that passage of the cryptocurrency market structure bill may have already been delayed until 2026 as both parties focused on fundraising for the midterm elections. This delay could give Democrats enough time to complete their investigation into the Trump currency before market structure legislation comes up for a vote.
Trump coins and Bitcoin saw a drop on Tuesday after President Trump’s initial policy announcements omitted any mention of digital assets.
which reached an all-time high of $109,071 on Monday during Trump’s inauguration, fell to $103,740.0 on Tuesday. The meme coin, launched just days earlier, experienced a similar pattern, rising from $6.50 at launch to $74.59 on Monday before retreating to $39.56.
