Senator Slams Trump’s World Liberty Financial Over 'Seriously Inadequate' Response to Inquiry
Sen. Richard Blumenthal criticized World Liberty Financial, a crypto firm linked to the Trump family, for its inadequate response to a Senate inquiry about its business practices. Blumenthal expressed concerns over potential foreign influence on President Trump through the company and demanded transparency regarding Trump's financial ties. World Liberty Financial, a decentralized finance project, raised $550 million and issued a stablecoin, USD1. The firm is under investigation for possible violations of ethics laws, including the foreign emoluments clause. Blumenthal highlighted conflicts of interest and national security risks related to the company's dealings with foreign governments. World Liberty's attorneys dismissed the inquiry as flawed and did not address Trump's ownership or provide requested operational details. Additional inquiries into the Trump family's crypto activities are emerging in Congress, with House Democrats seeking access to suspicious activity reports related to these ventures.
