People walk past an advertisement feature Donald Trump with Solana, XRP, USDC Bitcoin in Hong Kong.
Two U.S. Senators are pressing the Department of Justice and the Treasury to investigate a crypto company closely tied to the family of U.S. President Donald Trump over alleged links to illicit actors in North Korea and Russia.
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.
The senators cited a September report from a 501(c)(3) nonprofit corporate watchdog called Accountable.US, which said World Liberty Financial had sold its $WLFI tokens to “various highly suspicious entities.”
Those entities included traders with ties on the blockchain to a notorious North Korean hacking organization, a sanctioned Russian “Ruble-backed sanctions evasion tool,” an Iranian crypto exchange and Tornado Cash, a known money laundering platform, the watchdog alleged.
CNBC has contacted World Liberty Financial for comment on the letter and relevant reports.
