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Senators Demand Probe into Trump Family Crypto Deal
(MENAFN) Senate Democrats Jeff Merkley and Elizabeth Warren have formally requested an urgent investigation into a reported billion-dollar cryptocurrency deal involving the Trump family, raising serious concerns about potential foreign influence and constitutional violations.
The senators' letter, addressed to the acting director of the Office of Government Ethics, Jamieson Greer, focuses on a reported $2 billion investment by the Emirati state-backed firm MGX into the crypto exchange Binance, utilizing a digital coin created by World Liberty Financial (WLF), a venture linked to the Trump family.
Eric Trump's announcement of the USD1 stablecoin's role in backing MGX's Binance investment has triggered alarms from the lawmakers. They argue that the deal could render the U.S. government "highly vulnerable" to foreign influence and create a quid pro quo scenario, thereby jeopardizing national security.
Merkley and Warren allege that the Trump and Witkoff families, with Steve Witkoff serving as Trump's special envoy to the Middle East, stand to "likely indirectly" gain hundreds of millions of dollars from this transaction.
The senators' letter paints a stark picture: "In short, a crypto firm whose founder needs a pardon and a foreign government spymaker coveting sensitive U.S. technology plan to pay the Trump and Witkoff families hundreds of millions of dollars." They are now calling for immediate scrutiny into the ethics and legality of this arrangement.
The senators' letter, addressed to the acting director of the Office of Government Ethics, Jamieson Greer, focuses on a reported $2 billion investment by the Emirati state-backed firm MGX into the crypto exchange Binance, utilizing a digital coin created by World Liberty Financial (WLF), a venture linked to the Trump family.
Eric Trump's announcement of the USD1 stablecoin's role in backing MGX's Binance investment has triggered alarms from the lawmakers. They argue that the deal could render the U.S. government "highly vulnerable" to foreign influence and create a quid pro quo scenario, thereby jeopardizing national security.
Merkley and Warren allege that the Trump and Witkoff families, with Steve Witkoff serving as Trump's special envoy to the Middle East, stand to "likely indirectly" gain hundreds of millions of dollars from this transaction.
The senators' letter paints a stark picture: "In short, a crypto firm whose founder needs a pardon and a foreign government spymaker coveting sensitive U.S. technology plan to pay the Trump and Witkoff families hundreds of millions of dollars." They are now calling for immediate scrutiny into the ethics and legality of this arrangement.
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