U.S. Democratic Congresswoman Calls on the Treasury Department to Investigate Potential Conflicts of Interest and National Security Risks Involving WLFI

On February 20, according to CNBC, dozens of Democratic members of the U.S. House of Representatives sent a letter to U.S. Treasury Secretary Janet Yellen, requesting an investigation into potential conflicts of interest and national security issues related to Trump family’s cryptocurrency project, World Liberty Financial. The letter was led by Democratic Representative Gregory Meeks of New York and was signed by an additional 40 members. During a hearing, Meeks described Yellen as a “follower” of Trump and questioned the investment of last year’s $500 million by a member of the UAE royal family in World Liberty Financial. In a statement released alongside the letter, Meeks said, “The $500 million transaction involving the Trump family and the UAE royal family not only concerns national financial stability but also involves serious national security implications.” At the time of the investigation request, World Liberty Financial was applying for a national banking license, which is reviewed and issued by the Office of the Comptroller of the Currency, an independent agency under the U.S. Department of the Treasury responsible for regulating the banking industry.