Trump Crypto Investigation Raises Ethical and National Security Concerns Over $TRUMP Coin and World Liberty Financial
Trump Crypto Investigation is gaining momentum as a US Senate subcommittee intensifies its inquiry into potential conflicts of interest involving President Donald Trump’s cryptocurrency ventures. The panel is zeroing in on Trump’s connection to the $TRUMP meme coin and World Liberty Financial (WLF), a decentralized finance platform backed by the Trump family. Lawmakers are concerned that these projects could present national security risks and influence policymaking from the Oval Office.
Sen. Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations, wrote letters to important executives linked to the projects, formally starting the Trump Crypto Investigation. Among them were Zach Witkoff, a main player at WLF, and Bill Zanker of Fight Fight Fight LLC, the company responsible for $TRUMP coin. The main issue: Might Trump’s financial interest in these projects sway presidential choices or provide opportunities for foreign influence?
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Trump’s shift from a crypto doubeter to a full-blown digital asset entrepreneur is spectacular. From formerly labelling cryptocurrencies a “scam,” Trump has now welcomed the blockchain industry. Launched in 2024, his crypto company World Liberty Financial has generated over $550 million via token sales. WLF’s tokenomics said to offer significant profit potential for the Trump family. The $TRUMP meme coin shot to a market cap of $7.7 billion only after its launch in line with this.
Trump has claimed he has not directly profited from the $TRUMP coin despite these gains and rapid expansion. Speaking during a May 4 Meet The Press interview, he said he earned no money from the coin’s performance—though it started just days before his 2025 inauguration.
Critics are still not convinced. The Trump Crypto Investigation also intends to reveal information on a $2 billion investment agreement between Binance and Abu Dhabi-based MGX, both connected to WLF. Senator Jeff Merkley and others have highlighted this as a potential channel for foreign governments to channel influence and money into the Trump orbit, therefore raising ethical and national security concerns.
Trump’s deregulatory attitude on the cryptocurrency industry adds more cause for worry. He has disbanded the National Cryptocurrency Enforcement Team (NCET), a Department of Justice body responsible for monitoring crypto criminality, since assuming office. Legislators such as Sen. Elizabeth Warren contend that these actions could open the door for unregulated crypto growth benefiting Trump’s businesses.
Political analysts say that with Republicans in control of Congress, the results of the Trump Crypto Investigation remain unknown even as it intensifies. The seriousness of the issues is shown, then, by the fact that such a high-profile investigation is ongoing. Under the prism of national interest, foreign investment, deregulation, and ethical entanglements are now being examined.
The White House has replied, claiming there are no conflicts of interest and that Trump’s children run his assets under a trust. Still, as the Bitcoin scene changes and Trump’s personal and governmental duties merge, public and institutional doubt grows increasingly more.
Under the glare of attention, the Trump Crypto Investigation could be a defining challenge of how political power and distributed money interact in the contemporary period.
