Ranking Member Elizabeth Warren of the U.S. Senate Committee on Banking, Housing and Urban Affairs and Ranking Member Jack Reed of the Senate Committee on Armed Services wrote to Treasury Secretary Scott Bessent and Acting Attorney General Todd Blanche requesting an investigation into World Liberty Financial, the Trump family crypto company. The letter cites Wall Street Journal reporting that WLF partnered with a crypto venture whose flagship project had been led by individuals sanctioned by the Trump Administration for ties to the Prince Group, and argues that crypto market structure legislation should include protections tied to national security, illicit finance, and law enforcement. The senators wrote that the reporting raises questions about whether WLF maintains meaningful sanctions and counter-illicit finance controls and whether it adequately vets partner firms, transaction counterparties, and platform users. They also pointed to reports that WLF sold tokens throughout 2025 to buyers conducting business with North Korean state-sponsored hackers, sanctioned Russian money-laundering entities, and other illicit actors, giving those holders a role in WLF governance. Citing the new reporting and WLF's failure to respond to an earlier inquiry, they requested written responses by May 26, 2026 on considerations around potential enforcement actions against companies that fail to maintain adequate controls.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-05-14
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member requests investigation into World Liberty Financial over reported sanctions and illicit finance control failures
Ranking Members Elizabeth Warren and Jack Reed have asked the U.S. Treasury and Justice Department to investigate World Liberty Financial, citing reports of partnerships and token sales involving sanctioned and other illicit actors. The senators question whether the firm maintains adequate sanctions and counter-illicit finance controls and properly vets partners, counterparties, and users, and seek information on how authorities are considering enforcement actions against companies that fail to maintain such controls.