Crypto and Corruption? Senator Murphy Slams Trump with Bribery Allegations

In a bombshell accusation that’s sending shockwaves through Washington, Senator Chris Murphy (D-CT) accused former President Donald Trump of using cryptocurrency as a covert channel for political bribery and influence-peddling.

Speaking at a Senate subcommittee hearing on digital finance oversight Thursday morning, Murphy warned of what he called a “shadow economy of influence,” alleging that Trump and his allies have exploited the largely unregulated crypto space to accept undisclosed donations from foreign and domestic interests.

“This isn’t about innovation — it’s about infiltration,” Murphy said. “We’re looking at a backdoor bribery scheme dressed up as tech disruption.”

Murphy did not name specific transactions but cited a “pattern of sudden and unexplained crypto inflows” into wallets allegedly connected to Trump-affiliated political action committees (PACs). He also referenced anonymous blockchain movements timed suspiciously close to policy statements or campaign shifts that “favored crypto deregulation and foreign actors.”

The allegations come as Trump ramps up his 2024 campaign efforts — now embracing digital assets more openly than in his previous runs. Just last month, Trump launched a series of pro-crypto NFTs and hinted at “unlocking the power of decentralized finance” if re-elected.

In response, a spokesperson for Trump dismissed the claims as “baseless political theater,” accusing Murphy of “desperately clinging to conspiracy theories to distract from Biden’s failures.”

“President Trump has always complied with campaign finance laws,” the statement read. “Senator Murphy should focus on fixing Connecticut’s economy instead of chasing Bitcoin boogeymen.”

Still, the allegations are reigniting a long-simmering debate over crypto’s role in politics. Critics say the anonymity and speed of blockchain transactions make it a perfect tool for illicit finance — including political bribery, foreign interference, and dark money influence.

Murphy called on federal regulators to investigate any ties between cryptocurrency exchanges, shell wallets, and political organizations. He also pushed for immediate passage of legislation requiring full disclosure of digital asset donations.

“This isn’t just about Trump,” Murphy said. “It’s about preserving democracy in the age of digital manipulation.”

While no formal investigation has yet been announced, Senate aides say the Financial Crimes Enforcement Network (FinCEN) has been briefed on the concerns.

As crypto continues to gain traction on the political stage, the line between innovation and impropriety may become increasingly difficult to trace.