PANews reported on May 15, according to The Block, that Democratic members of the U.S. House of Representatives have officially requested the Treasury to submit a suspicious activity report regarding the Trump family's crypto project World Liberty Financial (WLF) and its related Meme coins. The investigation focuses on: the $75 million investment by TRON founder Justin Sun in WLF and its connection to the SEC's suspension of the lawsuit, the compliance of the use of WLF's stablecoin USD1 in Binance's $2 billion transactions, and the potential benefits associated with Trump Meme coin holders being invited to the presidential dinner. This investigation also involves the political action committee supported by Musk and the Republican fundraising platform WinRed.
Democratic Congressman Ritchie Torres proposed legislation last week to prohibit the President and members of Congress from profiting from Meme coins. Senator Elizabeth Warren and others have called for an investigation into Trump's relationship with Binance. The Treasury has not yet responded to this.
