Two Democratic senators urged Acting SEC Chair Mark Uyeda to protect records on World Liberty Financial, backed by President Donald Trump’s family.
They call for openness on how the firm is monitored by the SEC. They ask if Trump’s financial relationships are affecting decision-making by regulators. The company has close ties to Trump’s inner circle. Donald Jr. and Eric, Trump’s sons, are listed in SEC documents.
Lawmakers probe SEC over Trump crypto links
Business partner Steve Witkoff’s family is also associated with it. The company has also positioned itself as Trump-inspired. World Liberty Financial has recorded more than $500 million in token sales. It intends to issue a stablecoin named USD1. The Trump family holds a huge financial interest in this company.
They can generate $400 million from business operations and token sales, according to reports. Politicians are concerned this financial interest may influence decisions by the SEC.
There are concerns about preferential treatment. The SEC once charged Justin Sun with unregistered sales of securities and market manipulation. He went on to invest $75 million in World Liberty Financial. The suspended its case against him shortly afterward. There are calls from lawmakers for transparency about this pattern of events.
Lawmakers demand SEC transparency
Legislators ask for records of SEC decisions pertinent to the case. They are requesting details about the internal evaluation of World Liberty Financial’s compliance. They are also asking for correspondence between White House officials and SEC staff about policies on cryptocurrencies.
All documents related to Trump’s crypto company. And also seek data about measures that protect against conflict of interest. They aim for unbiased regulation of financial markets.
They reiterate the SEC’s responsibility to safeguard investors and uphold honest markets. The letter requests a reply by April 14, 2025. Lawmakers underscore that regulatory actions must benefit the public and not individual financial interests. The issue has fueled debate about political influence over financial regulation.
