Unveiling the Inquiry
Democratic House Members Request Treasury Documentation on Trump's Cryptocurrency Venture, World Liberty Financial
Penning a missive to the U.S. Treasury Secretary Scott Bessent on a hump day, three heavyweight House Democrats pleaded for access to all Suspicious Activity Reports, or SARs, pertaining to President Trump's crypto endeavors, such as the decentralized finance platform World Liberty Financial and the TRUMP meme coin on Solana.
In a missive, penned by ranking member Representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin, they asked for the dirt to probe potential election tampering, corruption, and more.
"Our letter is about potentially misusing certain politically aligned fundraising ventures for fraudulent, corrupt, or unlawful activities," the letter stated, also pointing a finger at political action committees like Trump ally Elon Musk's super PAC, America PAC.
The missive specifically points out World Liberty Financial and Trump's Solana meme coin, projects that seem fishy as hell and may indicate shady practices like bribery, influence-peddling, jeopardy towards national security, manipulating markets, and preying on vulnerable Americans.
The section devoted to Trump's crypto endeavors, the lengthiest section in the letter, calls out the WLFI token sale from World Liberty Financial, which initially fell short of its fundraising target but received a hefty boost with heaps of money from Tron founder Justin Sun.
This guy Sun, who's been in the SEC's crosshairs since 2023, recently got a break in his case as the regulatory body and his counsel discuss a possible settlement.
The letter also brings up the TRUMP and MELANIA meme coins, the former which Trump promotes on social media like a boss.
The request asks for all SARs ASAP, but no later than May 30, demanding details related to transactions from Jan 1, 2023, to the present. The World Liberty Financial token sale pierced the market in Oct 2024, while the TRUMP meme coin popped up in January this year.
The heat is on for Trump and his brood as it pertains to connections with crypto. In late April, Senators Elizabeth Warren (D-MA) and Adam Schiff (D-CA) penned a missive requesting an ethics probe into the President's upcoming gala dinner, which promised exclusive invites for those holding Trump's Solana meme coin. Moreover, earlier this month, House Democrats walked out of a hearing on digital assets because of Trump's coziness with crypto.
"Enriching himself and his family, and dangling invites for crypto holders at the White House—it's just too much," House Financial Services Committee Ranking Member Maxine Waters (D-CA) told Decrypt at the time.
Revised and polished by Andrew Hayward
Daily Debrief Newsletter
View on Walrus
- The three House Democrats' letter to the U.S. Treasury Secretary Scott Bessent, penned on a Wednesday, requests access to all Suspicious Activity Reports (SARs) related to President Trump's decentralized finance platform, World Liberty Financial, and his TRUMP meme coin on Solana.
- The representatives claim their missive is aimed at investigating possible election tampering, corruption, and other illicit activities by Trump.
- They believe these politically aligned fundraising ventures, including Trump ally Elon Musk's super PAC, America PAC, may have been exploited for fraudulent, corrupt, or unlawful activities.
- The letter highlights World Liberty Financial and Trump's Solana meme coin as potentially indicative of shady practices such as bribery, influence-peddling, national security risks, market manipulation, and targeting vulnerable Americans.
- The WLFI token sale from World Liberty Financial received significant funding from Tron founder Justin Sun, who has been under scrutiny by the Securities and Exchange Commission (SEC) since 2023.
- The letter mentions the TRUMP and MELANIA meme coins, with Trump promoting the former on social media.
- The request seeks all SARs as soon as possible but no later than May 30, requiring details related to transactions from January 1, 2023, to the present. The World Liberty Financial token sale launched in October 2024, while the TRUMP meme coin was introduced in January of this year.
- The examination of Trump's associations with crypto has intensified recently, with Senators Elizabeth Warren (D-MA) and Adam Schiff (D-CA) requesting an ethics investigation into the President's gala dinner offering exclusive invites for those holding his Solana meme coin. Additionally, House Democrats walked out of a hearing on digital assets earlier this month due to Trump's closeness with crypto, as reported in the General News section and the Crime and Justice section.
