$TRUMP Memecoin Earnings Spark Gillibrand's Call for Crypto Ethics Reform

Senator Kirsten Gillibrand is calling for stricter ethics laws in the crypto industry. In an interview at the Solana Accelerate conference, she stated that Congress members and their spouses should not be allowed to promote or issue memecoins.

Gillibrand's comments come after President Trump disclosed $1.4 billion in crypto-related income from his $TRUMP memecoin. The project was launched just before his second presidential swearing-in ceremony last year and has since dropped 97% in value, according to its price chart.

The New York Democrat emphasized that public officials should not have a conflict of interest when making decisions about the crypto industry. She expressed hope that the Clarity Act will proceed through the Senate Banking Committee within two weeks, but only if major issues are addressed first.