Trump-backed World Liberty Financial is at heart of crypto ‘corruption’: lawmakers
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The Trump family’s latest cryptocurrency gambit may have flown too close to the sun. Now, the bipartisan GENIUS Act, one of the most comprehensive and pivotal attempts to regulate the stablecoin industry, is at stake.
World Liberty Financial, run by President Donald Trump’s sons Don Jr. and Eric, is at the center of the storm. According to the crypto company’s website, 60% of it is owned by a Trump business entity, and the venture’s close ties to the president are clear. And a recent deal the Trump-associated business made has Capitol Hill up in arms.
On May 1, an Abu Dhabi–backed investment fund announced it would use the Trump family’s stablecoin to…
