U.S Lawmaker Seeks Probe On TRUMP Tokens

(%)
MARKETS TREND

A Democratic lawmaker demanded that the US House Committee on Oversight and Government Reform investigate whether President Donald Trump’s cryptocurrency endeavors violate his presidential responsibilities.

 

Representative Gerald Connolly of Virginia stated in a Jan. 21 statement that Trump might already be profiting from his World Liberty Financial (WLF) platform and the Official Trump (TRUMP) meme-coin, possibly violating moral principles and endangering national security.

The Securities and Exchange Commission has accused foreign businessman Justin Sun, the founder of Tron, of securities fraud, making Trump’s WLF “particularly troubling,” according to Connolly.

He went on to say that financial “entanglements” such as this one give rise to “serious national security concerns” regarding the possibility of foreign influence on US policy

Sun has invested $75 million in the company by purchasing World Liberty’s namesake token.  Connolly also stated that such helped the Trump family’s business surpass its self-imposed revenue threshold, “which could begin funneling cash directly to President Trump.”.

“It would be a sign to the American people that the Oversight Committee is incapable or unwilling to enforce the standards it claims to uphold if such practices continued unchecked,” Connolly stated.

Ethics experts expressed concern that Trump might have “cashed in” on his presidency after his team controversially introduced the TRUMP meme-coin two days before his inauguration. When questioned about the TRUMP token launch in January, Trump acknowledged that he didn’t know much about it.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments