Democratic Senator Investigates Trump’s ‘Chilling’ Crypto Ventures
Democratic Senator Richard Blumenthal is investigating President Donald Trump's cryptocurrency ventures for potential federal law violations. Blumenthal described Trump's meme coin launch and other crypto activities as a "pay-to-play scheme" that could allow foreign entities to enrich the president through blockchain pseudonymity. The Senate Permanent Subcommittee on Investigations is initiating a preliminary inquiry into the Official Trump cryptocurrency and the DeFi platform World Liberty Financial. The meme coin, which trades as TRUMP, experienced a significant value drop of 85% from its peak. Allegations suggest Trump profited from the coin's launch, which he denies. Trump is also linked to World Liberty Financial, promoted by his sons and reportedly generating $390 million in revenue. Upcoming events for TRUMP holders at Trump's golf club have drawn criticism from Democrats, who accuse him of corruption related to his crypto dealings.
