Senators call for an investigation into Trump family-linked encryption company World Liberty Financial

Odaily News According to CNBC, U.S. Senators Elizabeth Warren and Jack Reed have sent a letter to the Department of Justice and the Department of the Treasury, requesting an investigation into the cryptocurrency company World Liberty Financial, which is closely linked to President Trump’s family. The reason for the investigation is that the company is suspected of selling its $WLFI tokens to entities associated with illegal actors such as North Korea and Russia, raising national security concerns. The senators cited a report from the non-profit organization Accountable.US, which states that WLF sold $WLFI tokens to “highly suspicious entities.” These entities have been found on-chain to be associated with the sanctioned North Korean hacker group Lazarus Group, Russia’s “ruble-backed sanctions evasion tools,” Iranian cryptocurrency exchanges, and Tornado Cash. WLF's website shows that Eric Trump, Donald Trump Jr., and Barron Trump are co-founders, and the entity DT Marks DEFI LLC (associated with the president and his family members) holds a majority stake in WLF and has the right to receive 75% of the proceeds from the sale of $WLFI tokens. The senators believe that selling governance tokens to these entities not only allows the Trump family to profit directly but may also give illegal actors influence over WLF governance, indicating that WLF “lacks robust sanctions and anti-money laundering controls” and warns that this “poses a significant risk of facilitating illegal financial activities.”