Representative Connolly Demands Probe into Trump Crypto Ties
Concerns regarding President Donald Trump’s cryptocurrency ambitions have been voiced by Virginia Democrat Representative Gerald Connolly. He has urged the Committee on Government Reform and Oversight to look into whether these projects are in conflict with the President’s official responsibilities. Connolly claimed that Trump might be cashing out gains from the Official Trump (TRUMP) memecoin and the World Liberty Financial (WLF) platform in a letter dated January 21 to James Comer, the Republican head of the committee. Conolly claims that there may be ethical transgressions and threats to national security as a result.
Connolly Calls for Oversight on Foreign Influence in Trump’s Crypto Ventures
According to Connolly, Trump’s WLF is particularly troubling as its biggest backer, Justin Sun, the founder of Tron, is a foreign entrepreneur who has been accused of securities fraud by the Securities and Exchange Commission. He continued by saying that financial entanglements such as this one give rise to grave national security concerns over the possibility of foreign influence on US policies.
By purchasing World Liberty’s eponymous token, Sun has invested $75 million in the company. According to Connolly, this enabled the Trump family’s business to achieve its self-imposed income threshold, which might lead to money flowing directly to President Trump.
Allowing such practices to persist unchecked would signal to the American people that the Oversight Committee is unwilling or unable to enforce the standards it claims to uphold,
Connolly
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