Senate Democrat Investigates Trump’s Cryptocurrency Ventures for Potential Ethics Violations
Senator Richard Blumenthal is investigating U.S. President Donald Trump's cryptocurrency activities for potential corruption and conflicts of interest. Key aspects include:
- Blumenthal, head of the Senate Permanent Subcommittee on Investigations, sent inquiries to executives from Fight Fight Fight LLC and World Liberty Financial.
- The investigation focuses on Trump-affiliated entities including Fight Fight Fight LLC (behind the TRUMP memecoin), CIC Digital LLC (issuer of Trump NFTs), and DTTM Operations LLC (manages Trump's IP rights).
- Letters outline concerns over connections with foreign nationals and compliance with government ethics.
- Questions posed include investment sources, revenue generated, and records of financial dealings.
- Blumenthal lacks subpoena power as Democrats are in the Senate minority.
- Democratic lawmakers have raised objections regarding Trump's crypto ventures, impacting legislative discussions on stablecoin bills.
- Senator Chris Murphy proposed a bill banning the issuance of memecoins by the president and senior officials.