U.S. Senator Calls for Investigation into Trump's Crypto Project, Suspected of Ties to Illegal Actors from North Korea and Russia

On November 18th, as reported by CNBC, two US senators are pressing the Department of Justice and the Department of the Treasury to conduct an investigation into a cryptocurrency company that is closely affiliated with the family of US President Trump. This company is suspected of having links to illegal actors in North Korea and Russia. On Tuesday, US Senators Elizabeth Warren (from Massachusetts, Democratic Party) and Jack Reed (from Rhode Island, Democratic Party), who are minority members of the Senate Banking, Housing, and Urban Affairs Committee, expressed their concerns in a letter to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent. The senators stated in the letter that the cryptocurrency company World Liberty Financial, which is controlled and operated by the Trump family, may pose a national security threat. According to a letter exclusively obtained by CNBC, the senators pointed out that World Liberty Financial lacks sufficient security measures to prevent bad actors from moving funds or influencing corporate governance. The letter cited a report released in September by the 501(c)(3) non-profit watchdog organization Accountable.US, which stated that World Liberty Financial has sold its WLFI token to "various highly suspicious entities." The watchdog organization stated that these entities include traders with connections to a notorious North Korean hacking group on the blockchain, a sanctioned Russian "ruble-supported sanctions evading tool," an Iranian cryptocurrency exchange, and the well-known money laundering platform Tornado Cash.