U.S. Senators Call for Probe Into Trump-Linked Crypto Firm Over Alleged North Korea, Russia Ties

Two U.S. senators have urged the Department of Justice and Treasury to investigate World Liberty Financial, a crypto company controlled by the Trump family, over alleged connections to illicit actors from North Korea and Russia, CNBC reports. Senator Elizabeth Warren (D-Mass.) and Senator Jack Reed (D-R.I.), ranking members of the Senate Banking Committee, raised concerns Tuesday that the firm may pose national security risks due to insufficient safeguards against bad actors transferring funds or influencing governance. The senators cited a September report by nonprofit watchdog Accountable.US, which claimed World Liberty Financial sold its WLFI tokens to various highly questionable entities, including traders linked on-chain to North Korean hacker groups, a sanctioned Russian ruble-backed sanctions evasion tool, Iranian crypto exchanges, and laundering platform Tornado Cash.