🔍💰 DEMOCRATS AFTER TRUMP'S CRYPTO! Request suspicious activity reports.
Democratic legislators in the U.S. have sent a letter to the U.S. Treasury 🏛️💸 demanding access to suspicious activity reports (SARs) regarding crypto projects backed by Trump, as part of an investigation into his digital initiatives.
The letter, drafted by Gerald Connolly, Joseph Morelle, and Jamie Raskin, requests Secretary of the Treasury Scott Bessent all SARs filed since 2023 related to World Liberty Financial (WLF) and the Official Trump token ($TRUMP ). Financial institutions must file SARs with FinCEN for suspicious activities, such as money laundering or fraud.
The investigation seeks SARs mentioning WinRed, America PAC, Elon Musk, PACs, Trump, WLF, TRUMP, MELANIA, and Justin Sun, with a deadline of May 30 🗓️. Democrats aim to determine if legislation is needed to prevent violations of campaign finance laws, consumer protection, bribery, securities fraud, and other anti-corruption laws.
They argue that WLF could be used as a "vehicle for foreign influence" 🌍💰 due to its sale of tokens to foreign investors. Justin Sun's investment in WLF and the suspension of the SEC's lawsuit are also causes for concern. The TRUMP token is criticized for the lack of transparency regarding the identity of buyers, which could allow malicious actors to "win Trump's favor."
SARs are also requested on WinRed, Elon Musk's super PAC, and other PACs. This is the latest Democratic attack against the crypto initiatives of #TRUMP , adding to a letter to the leaders of the Department of Justice and the Treasury about Trump's ties to Binance and potential conflicts of interest.
Do you think this investigation will have a significant impact on Trump's crypto projects? 🤔
