{"id":20505,"date":"2025-04-03T19:46:59","date_gmt":"2025-04-03T19:46:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20505"},"modified":"2025-04-03T19:46:59","modified_gmt":"2025-04-03T19:46:59","slug":"lawmakers-urge-sec-to-preserve-records-on-trump-linked-crypto-firm","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20505","title":{"rendered":"Lawmakers Urge SEC to Preserve Records on Trump-Linked Crypto Firm"},"content":{"rendered":"
\n

Two Democratic legislators have requested the U.S. Securities and Exchange Commission (SEC) to preserve and disclose records related to World Liberty Financial (WLFI).<\/p>\n

In an April 2 letter, Senator Elizabeth Warren and Representative Maxine Waters raised concerns about potential conflicts of interest arising from the Trump family\u2019s involvement in the project.<\/p>\n

Concerns Over Trump Family\u2019s Influence<\/h2>\n

The lawmakers specifically questioned<\/a> whether the family\u2019s financial ties to WLFI might influence the SEC\u2019s activities under acting Chair Mark Uyeda. The letter states that the inquiry seeks to determine \u201cwhether this conflict of interest may be interfering with its mission to protect investors and maintain fair and orderly markets.\u201d<\/p>\n

Last month, World Liberty Financial reported <\/a>over $500 million in exempt securities sales of its governance token, WLFI. According to the document, the president\u2019s family holds a 75% claim on net revenues from token sales and 60% from the project\u2019s operations, currently entitling them to about $400 million in fees.<\/p>\n

Warren and Waters called the Trumps\u2019 stake in WLFI \u201can unprecedented conflict of interest\u201d that could influence the government\u2019s oversight of the crypto industry. They further argued it gives them \u201can obvious incentive\u201d to direct federal agencies, including the SEC, toward crypto policies benefiting the president\u2019s family.<\/p>\n

SEC\u2019s Decision on Sun\u2019s Case<\/h2>\n

The letter also scrutinized the regulator\u2019s February decision to pause its case against Justin Sun, who has invested<\/a> $75 million into WLFI. The two politicians asked the agency to preserve \u201call internal memoranda justifying the initial enforcement decision,\u201d including records of meetings and communications between its officials and representatives of Sun or the Trump family.<\/p>\n

Additionally, they requested that the financial watchdog maintain records of \u201ccommunications, suggestions, or directives\u201d from the White House or the Trump family regarding WLFI or Sun\u2019s case.<\/p>\n

They also asked whether it had consulted with ethics officials concerning the Trump family\u2019s crypto investments and requested copies of any policies in place to prevent undue influence from the president\u2019s kin.<\/p>\n

According to the document, the American people have a right to know if financial markets are regulated fairly or if decisions are being made to serve personal interests.<\/p>\n

The inquiry follows an April 2 House Financial Services Committee session on stablecoin regulation. The government has stated its intent to prioritize stablecoin regulation and integration.<\/p>\n

During the session, Waters opposed the bill unless it included provisions preventing Trump or his affiliates from owning a stablecoin issuer, arguing that it \u201csets a dangerous precedent benefiting the president and his insiders.\u201d Her comments followed WLFI\u2019s March 25 announcement<\/a> of its plan to launch USD1, a U.S. dollar-pegged stablecoin.<\/p>\n

The post Lawmakers Urge SEC to Preserve Records on Trump-Linked Crypto Firm<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Two Democratic legislators have requested the U.S. Securities and Exchange Commission (SEC) to preserve and disclose records related to World Liberty Financial (WLFI). In an April 2 letter, Senator Elizabeth Warren and Representative Maxine Waters raised concerns about potential conflicts of interest arising from the Trump family\u2019s involvement in the project. Concerns Over Trump Family\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20505","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20505"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20505\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}