House Democrats Demand Trump-Linked Crypto SARs Amid Corruption Concerns

Three prominent House Democrats—Representatives Joseph Morelle, Jamie Raskin, and Gerald Connolly—have escalated pressure on the U.S. Treasury to disclose suspicious activity reports (SARs) tied to cryptocurrency ventures allegedly affiliated with former President Donald Trump. The May 14 letter targets World Liberty Financial, Trump-branded meme coins ($TRUMP, $MELANIA), and GOP fundraising platform WinRed, citing risks of "potential bribery and influence-peddling."

The move underscores growing scrutiny of politically adjacent crypto projects. While the letter avoids implicating specific exchanges or major assets like BTC or ETH, it highlights regulatory unease with niche tokens leveraging political branding. Treasury Secretary Scott Bessent faces a May 30 deadline to respond—a timeline suggesting Democrats view this as urgent counter-corruption infrastructure.