Trump’s projects are facing the encryption of the investigation on fraud, bribery and conflicts of interests

Senior Democrats in the House of Representatives launched an investigation into President Donald Trump’s projects for encryption, citing concerns about the collection of illegal donations, foreign influence, and misuse of political power.

In line with this, they requested all SARS activity reports associated with Trump’s fundraising efforts.

Allegations

in letter Treasury Secretary Scott Bessin, Democrats Gerald Connely, Joseph Morel and Jimmy Raskin, senior members of three committees in the House of Representatives, said:

“We write about the possible misuse of some of the political trends collection projects for fraudulent, corrupt, or other others.”

The investigation aims to win the republican donation platform, multiple political action committees, including Elon Musk’s America Pac, World Liberty Financial (WLF), and Coins Meme associated with the president and first lady.

Legislators were specifically interested in selling the distinctive symbol for World Liberty. After failing to achieve goals to collect initial donations, WLF received a $ 75 million purchase from JUSTIN Sun. The founder of Tron has been under scrutiny at SEC since 2023, but he recently obtained a temporary stop in the case with discussions continuing with the organizers, which raised the doubts of bribery.

Democrats in the House of Representatives also mentioned Trump and Memi. According to them, the regular entities of the president control 80 % of the previous offer and have received more than $ 100 million in trading fees.

It is also said that foreigners, who claim that some Chinese citizens have achieved great profits to sell the M and M and investors at more than two billion dollars later lost. These patterns have nurtured potential internal trading accusations, pump and discharge activity.

The message also addresses concerns about national security and foreign influence, given that the currency buyer is still unknown and most of the distinctive WLF symbols have been sold to foreign investors. Konoli and his partners argued that this room is left for non -citizens to gain influence over American policy.

In March 2025, WLF announced plans to launch Stablecoin called USD1. Later, a fund backed by Abu Dhabi revealed that it will use Stablecoin to invest in two billion dollars on the Binance Crypto Stock Exchange, which was previously convicted of violating the anti -money laundering laws.

The message highlights that the timing and nature of this deal shows the risks of Trump’s conflict of his interest in the ethics of confusing business and presidential power.

Trump faces continuous scrutiny

The three legislators are demanding that all the relevant srackers be provided from January 1, 2023, until the present time to their committees by May 30. Their request comes amid increasing pressure from Democrats who seek to organize political participation in encryption.

Last week, Representative Richie Torres has submitted a draft law to ban chiefs sitting and members of Congress from the benefit of Meme and Stablecoins. In April, Senator Elizabeth Warren and Adam Chef called for ethics after a dinner hosted by Trump’s exclusive invitations to senior Solana currency holders.

Separately, the Congress voted on the law of the genius, a draft law aimed at organizing Stablecoins, pointing to struggles that have not been resolved linked to Trump encryption transactions.