Top Senate Democrats on Friday called for congressional hearings into President Donald Trump's latest financial disclosures, arguing the filings warrant closer scrutiny over potential conflicts of interest, foreign influence, and the president's expanding business interests while in office.

In a joint statement, the lawmakers urged Congress to hold public hearings examining Trump's financial holdings and the role his business ventures, particularly in the cryptocurrency industry, could play in shaping federal policy.

They said the disclosures raise questions about whether ethics laws are sufficient to guard against conflicts involving senior government officials.

The statement was signed by Senate Minority Leader Chuck Schumer of New York; Elizabeth Warren of Massachusetts, ranking member of the Senate Banking Committee; and the top Democrats on several Senate committees, including Finance, Judiciary, Homeland Security and Governmental Affairs, Foreign Relations, and Armed Services.

Trump reported more than $1.4 billion in income from his family's crypto ventures last year, ​according to a review of his latest financial disclosures on Tuesday.

His annual 2025 disclosure filed with the U.S. Office of Government Ethics reported that his companies received almost $800 million from World Liberty Financial, a crypto venture he and his sons founded.

That income, which the president splits with family members, included more than $520 million from sales of crypto tokens and more than $250 million from the sale of interests in the World Liberty business.

The lawmakers argued the president's financial disclosure report highlights what they described as unprecedented ethical concerns surrounding a sitting president's personal financial interests.

They said Congress has a responsibility to examine whether Trump's business dealings could create conflicts with his official duties.

The lawmakers devoted much of their criticism to Trump's cryptocurrency holdings, saying the disclosures illustrate the size and scope of his financial ties to the digital asset industry at a time when Congress is considering legislation that would establish a regulatory framework for cryptocurrencies.

They also expressed concern that foreign governments, corporations, or wealthy investors could attempt to gain influence with the administration by investing in Trump-affiliated businesses or digital asset ventures.

Beyond cryptocurrency, the Democrats said the disclosures demonstrate broader concerns about the ability of presidents to maintain significant private business interests while serving in office.

They argued ethics laws have not kept pace with increasingly complex financial arrangements and called for reforms to strengthen transparency and oversight.

The lawmakers urged Republican leaders to support hearings and work on bipartisan ethics legislation designed to prevent elected officials and senior executive branch employees from profiting from industries they oversee.

Warren has repeatedly criticized Trump's involvement in the cryptocurrency industry while Congress debates legislation affecting digital assets, arguing stronger safeguards are needed to prevent conflicts of interest.

Trump has maintained that his financial disclosures comply with federal law. He has rejected accusations that his business interests influence administration policy.