House Democrats Demand Treasury Probe Into Trump’s $TRUMP Crypto Ventures and GOP Fundraising
House Democrats are urging the U.S. Treasury to investigate potential fraud and foreign influence in Donald Trump’s cryptocurrency activities, including his promotion of the $TRUMP meme coin, as well as Elon Musk’s political action committee and Republican fundraising platforms. A formal letter to Treasury Secretary Scott Bessent requests suspicious activity reports (SARs) related to these matters.
The $TRUMP token, launched via World Liberty Financial (WLFI), experienced significant price volatility after being promoted by the former president on social media and at campaign events. Lawmakers are examining the coin’s foreign funding sources and centralized control mechanisms—a MOVE that could establish regulatory precedents for politically-connected cryptocurrencies.
