“House of cards. On Wednesday, February 4, 2026, tensions in the US Congress escalated. Scott Bessent, the Treasury Secretary in the Trump administration, has been strongly questioned by the House Financial Services Committee about shady ties between the Trump family’s crypto project World Liberty Financial (WLF) and foreign investors. Key points of this article: The House Financial Services Committee vigorously […]”, — write: businessua.com.ua
House of cards. On Wednesday, February 4, 2026, tensions in the US Congress escalated. Scott Bessent, Treasury Secretary in the Trump administration was strongly questioned by the House Financial Services Committee about shady ties between the Trump family’s crypto venture World Liberty Financial (WLF) and foreign investors.
Key points of this article:
- The House Financial Services Committee vigorously questioned Scott Bessent about the troubling ties between the crypto project the Trump family, World Liberty Financial, and foreign investors.
- Scott Bessent has strongly stated that the Treasury Department will not back Bitcoin with government funds, dispelling any notion of a “bailout” in the event of a stock market crash.
The shadow of the Emirates over the cryptocurrency of World Liberty Financial Member Democratic Party of New York State Gregory Meeks launched a frontal attack against the WLF. Referring to recent revelations in the Wall Street Journal, he emphasized that an investment company backed by the Sheikh of the Emirates Tahnoon bin Zayed Al Nahyan, secretly purchased 49% of WLF shares by 500 million dollars just days before Donald Trump’s inauguration.
Ago Gregory Meeks demanded that Scott Bessent suspended all banking license applications submitted by WLF to the OCC (Office of the Comptroller of the Currency) pending a thorough review investigation these potential conflicts of interest . The exchange of remarks turned into a verbal altercation, in which a representative of the Democratic Party accused the Minister of Finance of “covering the president” after the latter cited the OCC’s independence as the reason for the lack of a direct response.
Finance Minister Scott Bessant’s comments are picking up steam on social media – Source: Account X
None “ salvation » bitcoin with government funds Apart from personal affairs of the presidential family, Scott Bessent had to clarify the position of the Ministry of Finance regarding Strategic Bitcoin Reserve created by executive order in March 2025.
Congressman Brad Sherman, famous skeptic about cryptocurrencies, asked if it has Ministry of Finance powers “save bitcoin” or forcing banks to invest in “Trump Coins” in case collapse stock market. Scott Bessent’s answer was unequivocal:
“I am the Minister of Finance, I do not have the authority to do this, and as the head of the Financial Stability Oversight Council [FSOC]I don’t have them either.”
Scott Bessent, Minister of Finance – Source: The Block
Scott Bessent clarified that the Bitcoin National Reserve is currently funded solely by seizures (criminal or civil proceeds) and that the current policy is to hold these assets, not sell them. However, he defended the profitability of the strategy, noting that $500 million worth of bitcoins withdrawn in the past are now worth more than $15 billion, but naturally given the state of the market, now is not a very good time to praise cryptocurrency.
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