BEARISH 📉 : Trump’s Crypto Venture World Liberty Financial Faces House Probe

World Liberty Financial Under House Probe

World Liberty Financial, linked to the Trump family, is under investigation by the US House for a $500 million deal with an Abu Dhabi-linked entity.
The deal includes a 49% acquisition in Trump's crypto venture and involves the USD1 stablecoin.
Rep. Ro Khanna has requested documents related to this transaction, expressing concerns about potential conflicts of interest and national security.
The probe also scrutinizes WLFI's use of USD1 in a $2 billion transaction with Binance.
Khanna questions if $187 million from the UAE deal was directed to Trump-affiliated businesses.

Political Reactions and Ethical Concerns

Democrats are pushing for stricter ethics in the crypto market structure bill following the Abu Dhabi deal.
Sen. Cory Booker emphasizes the need for ethical provisions due to perceived corruption linked to the Trump administration.
This situation tests bipartisan cooperation on advancing the crypto legislation.