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Senators seek probe of Trump crypto venture over alleged token sales linked to North Korea and Russia
- Senators Elizabeth Warren and Jack Reed are seeking a probe of a Trump-tied crypto firm over alleged links to illicit actors in North Korea and Russia.
- A watchdog flagged $WLFI sales to “various highly suspicious entities,” raising security concerns.
- The push comes as Congress weighs rules that could limit oversight of governance tokens.
In a letter on Tuesday, U.S. Senators Elizabeth Warren, D-Mass., and Jack Reed, D-R.I., minority members on the Senate Committee on Banking, Housing, and Urban Affairs, raised concerns that World Liberty Financial, a crypto firm heavily owned and run by the Trump family, may pose national security risks.
The letter — obtained exclusively by CNBC and addressed to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent — argued that World Liberty Financial lacks adequate safeguards to prevent bad actors from moving funds or gaining influence over its governance.
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