Elizabeth Warren (Elizabeth Warren) and Jack Reed (Jack Reed) are calling for an investigation into the crypto company affiliated with the Trump family, World Liberty Financial (WLF). The senators noted that the company sold tokens to questionable buyers, including North Korean hackers, Russian sanctioned entities, and users of Tornado Cash.
Among WLF’s leadership are Eric Trump, Donald Trump Jr., and Barron Trump. DT Marks DEFI LLC, connected to the president and his family, holds 22.5 B WLFI, valued at over $3 B, and receives 75% of the revenue from token sales. Senators pointed out that this arrangement creates a financial conflict of interest.
In their letter, the senators referred to a report by the nonprofit watchdog Accountable.US, which stated that in January 2025 the company sold tokens to a trader linked to the North Korean hacker group Lazarus Group for a total of $10.000.
WLFI tokens were also purchased by individuals and organizations under Russian sanctions. At the same time, WLF allowed token holders to participate in platform governance.
WLF representatives said the company conducts strict anti-money laundering and client identification checks and rejects buyers who fail the controls. The company plans to launch new products soon, including tokenized assets.
Senators warned that expanding the company’s activities without oversight could increase the risk of illicit financial activity. Their letter requests that the Treasury and Justice Department assess national security risks and provide information on actions taken against WLF by December 1, 2025.
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