US President Donald Trump has suggested he would be impeached by Democrats if the Republican Party loses the midterm elections, which could increase the obstacles to his crypto policy agenda.
Speaking before Republican lawmakers in the House on Tuesday, President Trump warned that he risks impeachment if the party does not win the upcoming midterm elections.
"You have to win the midterm elections, because if we don't, they'll find a reason to impeach me," Trump said. "I'll be impeached."
Trump's approval rating has now fallen to 42%, amid concerns among many voters that the administration has not done enough to curb the rising cost of living. Internal Chia within the Republican electorate have also emerged regarding his handling of documents related to the Epstein case.
Polls show Democrats leading in the midterm race, while Polymarket bettors estimate a nearly 80% chance that the Democrats will regain control of the House of Representatives.
The entire House of Representatives and one-third of the Senate will be up for re-election in November. If the Republican Party loses control of one or both houses, Trump's policy agenda for the final two years of his term will be severely impacted.
One of the key crypto bills that Republicans want to pass is the Crypto Market Structure Act, which aims to establish a regulatory framework for the industry. Senate Banking Committee Chairman, Senator Tim Scott , said the bill is expected to be put to a re-vote next week.
Trump has been impeached twice.
During his first term, Trump was impeached twice by the House of Representatives. The first time was in 2019 on charges of abuse of power and obstruction of Congress, related to pressuring Ukraine in the context of the 2020 election.
The second instance occurred in January 2021, just days before he left office after his defeat to JOE Biden , with accusations of inciting riots following the January 6 attack on the Capitol.
In both instances, the Senate voted to acquit Trump.
If he is impeached for a third time, the possibility of another acquittal in the Senate still exists, with Polymarket estimating the probability of the Republican Party retaining control of the Senate at approximately 67%.
However, if the Democrats regain control of the House of Representatives in November, pushing for Trump's impeachment could plunge Congress into a stalemate and paralyze his agenda.
Several Democratic lawmakers, such as Representative Sean Casten and Senator Jon Ossoff, have publicly argued that Trump should be impeached for his crypto-related activities, including hosting private dinners for holders of his memecoin holdings.
Even within the Republican Party, Trump faced considerable opposition to his crypto plans. Last year, a conservative group within the party refused to support a series of crypto bills unless they included a ban on central bank digital currencies (CBDCs).
Ultimately, an agreement was reached when a provision banning CBDCs was promised to be included in the mandatory defense bill, in exchange for support for stalled bills, including the GENIUS Act .
However, Republican leaders later broke their promise, passing the defense budget bill without a ban on CBDCs, causing resentment among some within the party.
