May 7, 2025
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Senate Democrat Says He’s Looking Into Trump’s Crypto Businesses

Sen. Richard Blumenthal Wrote Letters to Trump-affilied Business Executives, Asking About their Ownership and Investment Structure.”, – WRITE: www.coindesk.com

Sen. Richard Blumenthal Wrote Letters to Trump-affilied Business Executives, Asking About their Ownership and Investment Structure. May 6, 2025, 10:30 PM

The Leading Senate Democrat on a panel Tasked with Investigating Corruption and MISMANAGENT IS Scrutinizing US President Donald Trump’s Recent Crypto Activities Provide Access to the Presidency to the Highest Bidder. ”

Richard Blumenthal, The Ranking Democrat on the Senate Permanent Subcomcomityte on Investigations – A Panel Houssed with the Committee on Homeland Security and GOVERNMENT AFFARS – Wrote Letters Llc and zach witKoff, a co-fender of world liberty Financial on tuesday, asking them a series Fight Fight LLC (The Company Begind the Trump Memecoin), Cic Digital LLC (Wich Issued Trump’s NFTS and CO-LUNS FIGHT FIGHT), Celebration Cards LLC Operations LLC (WHICH Manage Trump’s IP Rights), As Well As World Liberty Financial and Its Affilited entities.

“The Permanent Subcomity on Investigations Is Conducting A Preliminary Inquiry Into Potential Conflicts of Interest and Violations of The Law from President Trumptocurrency Viol Financial Dealings with Foreign Nationals, Foreign Governments and Other Cryptocurrency Firms, “The Letters Both Said, with One Pointing to World Liberty FinanCial and The Financial And the.

The Letters Went On Say That Businesses “May Be Enabling The Violation of Government Ethics Requirements,” Before Posing A Number of Quouts for the Companies’ Respective Exectors.

These quests asklude hows the companies of Identify or Block Investments from Foreign Governments, How Much Revenue they’ve Genered and Whtcher Individuals Facing.

The Letters Also Ask the Executives to Produce Records Tied to the Trump-Affilited Crypto Businesses.

Because Democrats are Currently the Minority Party in the Senate, Blumenthal Does Not Have Subpoena Power Unless his Republican Counterpart, Sen. Ron Johnson, ALSO SIGNS ON. A Spokesperson for Johnson Did Not Immedialate Return a Request for Comment.

Democrats have Sounded the alarm over Trump’s Crypto Businesses in Recent Days. Earlier Tuesday, Rep. Maxine Waters, Who Leads Her Party on the House Financial Services Committe, Objected to A Joint Hearing with The House Agriculture Committee to Address Marketh Struucher Hearing focused on Tese Crypto Tie-Ups.

A weekend of the statement from Sen. Ruben Gallego and A Handful of Other Democrats Saying The Lawmakers would not vote for the senate’s stablecoin Bill ALSO SEMS to STEM FROM TRUMP’S Dhabi-Basted Investment Firm MGX Wuld Use The Trump-Affilited USD1 Stablecoin to Close A $ 2 Billion Investment Into Binance.

Sen. Chris Murphy Also Introduced A Bill Tuesday Which would Ban The US President and Other Senior Government Officials from Issuing Memecoins or Other Financial Assets.

Nikhilesh de

Nikhilsh de is Coindesk’s Managing Editor for Global Policy and Regulation, Covering Regulators, Lawmakers and Institutions. HE OWNS

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