Trump's crypto projects need to be investigated

Through the World Liberty Financial crypto project, Donald Trump's family is a major, highly profitable player in the market.

Through the World Liberty Financial crypto project, Donald Trump's family is a major, highly profitable player in the market. The company has now raised about $500 million through selling its own tokens. A full 75 percent of net proceeds flow directly to the Trumps.

That has sparked growing criticism, especially since the SEC has not taken action yet against possible conflicts of interest. Democratic lawmakers Elizabeth Warren and Maxine Waters demand transparency. In an open letter to SEC Commissioner Mark Uyeda, they question the agency's independence.

“The Trump family's financial involvement with World Liberty Financial represents an unprecedented conflict of interest that could endanger the Trump administration's watchdog role over the crypto sector,” they write.

And further: “The American people have a right to know whether their financial markets are regulated fairly and independently, or whether decisions are being made to benefit the personal financial interests of the president's family.”

Warren and Waters are calling on Uyeda to secure all documents and communications related to World Liberty Financial, Trump and his family, as well as correspondence with the SEC.

Last week, World Liberty Financial announced the launch of its own stablecoin. Warren also criticized this strongly. On X (formerly Twitter) she wrote: “This is Donald Trump's latest trick to enrich himself.”