US Democratic House lawmakers ask Treasury secretary to probe WLFI

JH Kim

Summary

Democratic lawmakers in the US House of Representatives said they asked Treasury Secretary Scott Bessent to investigate the Trump family’s DeFi project, WLFI.
They said they are seeking an official probe into potential conflicts of interest related to WLFI and its potential impact on national security, particularly a $500 million deal.
They said the request was made as political controversy surrounding WLFI grows, with attention focused on the Treasury’s response.

According to CNBC on the 19th (local time), Democratic lawmakers in the US House of Representatives sent a letter to Treasury Secretary Scott Bessent requesting an investigation into World Liberty Financial (WLFI), a Trump family DeFi project.

The lawmakers called for an official probe into potential conflicts of interest linked to WLFI and its implications for national security. In particular, a $500 million deal between the Trump family and the United Arab Emirates (UAE) royal family was flagged as a concern.

Rep. Gregory Meeks criticized the deal, saying, "The $500 million deal the Trump family signed with the UAE royal family not only risks causing national financial instability but also poses a serious security issue," adding, "History will record whether the Treasury secretary will be loyal to the American people or to the forces behind him."

The request comes as political controversy surrounding WLFI continues to intensify, with attention now focused on whether and how the Treasury will respond.