One Democratic lawmaker raised the alarm about what he described as “improper financial activities” associated with it President Donald TrumpEspecially regarding the recent launch of memecoins linked to him, First Lady Melania Trump, and her cryptocurrency project World Liberty Financial (WLFI).
Concerns are growing about Trump’s financial dealings related to global freedom
Gerry Connolly of the House Oversight Committee Formally requested An investigation into Trump’s financial dealings, pointing to the “spread” of conflicts of interest as the 119th Congress began.
Connolly stressed the critical need for transparency and accountability, urging the committee to uphold the ethical standards that were central to the recently proposed Presidential Ethics Reform Act.
The lawmaker stated that addressing these issues is not just about consistency, but is a litmus test of the committee’s integrity and commitment to the American public.
Connolly’s request highlights growing concern that President Trump may not adhere to ethics guidelines, noting that he has not yet met basic expectations such as his release. Tax returns.
He contends that presidential conflicts of interest are escalating, especially in light of Trump’s new cryptocurrency venture, World Liberty Financial (WLF).
This platform aims to facilitate cryptocurrency transactions, but its largest investor – Justin Sun, founder of the TRON blockchain – is reportedly under investigation by the Securities and Exchange Commission for alleged securities fraud.
A major investment of $30 million in WLF tokens in November 2024 raised eyebrows, enabling Trump’s project to exceed his expectations. Revenue goalsWhich could allow the profits to flow directly to him and his family.
Connolly argues that the WLF appears to be a mechanism for “foreign interests and unscrupulous individuals” to curry favor with the president, allegedly to circumvent traditional investment methods.
An ethical dilemma for Trump’s cryptocurrency projects?
A few days before his inauguration, Trump and his family Fired Cryptocurrency token “TRUMP”, regulated by CIC Digital, an affiliate of the Trump Organization.
Legal disclosures indicate that these tokens are not intended to be viewed as investment opportunities, raising ethical questions about their purpose and implications for presidential integrity, Connolly claims.
The lawmaker also claims that Trump is “monetizing the presidency” and creating avenues for financial transactions that could directly enrich his family. Current evaluations indicate that Trump symbol It could be worth nearly $45 billion.
Connolly concluded the letter by emphasizing that the Oversight Committee must take seriously its responsibilities to ensure that no administration, regardless of authority, acts above the law.
At the time of writing, the TRUMP token is trading at $37.75, a retracement of over 50% in less than 72 hours, as investors flocked to take profits and sell the token due to the increased scrutiny and criticism it has received.
Featured image from NBC, chart from TradingView.com
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