House Democrats Press Treasury for Trump Crypto and Musk PAC Scrutiny

Top House Democrats are escalating efforts to uncover potential financial misconduct tied to high-profile crypto ventures. Representatives Gerald Connolly, Joe Morelle, and Jamie Raskin have demanded Treasury release suspicious activity reports linked to Donald Trump’s World Liberty Financial, Elon Musk’s America PAC, and alleged scam PACs.

The lawmakers cite multiple red flags: questionable campaign finance practices, foreign influence risks, and securities fraud concerns. World Liberty Financial’s non-transferable tokens—reportedly backed by $75 million from SEC-charged entrepreneur Justin Sun—face particular scrutiny for offering no clear utility.

This MOVE signals growing regulatory attention on political-adjacent crypto projects. The involvement of Sun, a controversial figure in digital asset circles, adds international compliance dimensions to the probe.