I don't know about you, but I read this news immediately with 'two plus!!'... That is, firstly, with interest. Secondly, not without a smile!!!

Lawmakers are calling on the Treasury to investigate Trump's cryptocurrency fraud, Musk's PAC, and the Republican Party's fundraising fraud.

The House Democrats are urging the U.S. Treasury to investigate Donald Trump's cryptocurrency transactions, Elon Musk's political action committee (PAC), and the Republican Party's fundraising platforms for possible fraud, bribery, and foreign influence.

In a letter sent to Treasury Secretary Scott Besant, leading Democrats from three influential House committees requested all suspicious activity reports (SARs) related to Trump's cryptocurrency ventures, Elon Musk's PAC, and the Republican Party's fundraising platform WinRed.

Earlier this year, President Donald Trump launched the meme coin $TRUMP through World Liberty Financial (WLFI). He promoted it on his social media accounts and at campaign events, resulting in a sharp increase in the coin's price and attracting thousands of investors.

However, lawmakers are increasingly concerned that more than 80% of the total token supply is held in digital wallets controlled by Trump and his allies. This means they can manipulate the price and supply for their benefit at the expense of regular investors who lack insider information or control.

Lawmakers also noted that the very first investors in the meme coin $TRUMP made millions of dollars by selling their tokens at peak prices before the market crash, leaving ordinary investors who bought them later with huge losses.

The letter also highlights the proposed new stablecoin USD1, which plans to raise $2 billion through a deal with Binance, a global cryptocurrency exchange, and MGX Capital (which controls 90% of the token's ownership).

This proposal raises constitutional concerns as significant foreign ownership could violate the emoluments clause of the U.S. Constitution, which prohibits U.S. government officials from accepting gifts or financial benefits from foreign governments in ways that could influence elections or political decisions.

In short, USD1 could potentially open the doors for foreign governments or investors to exert undue influence on the political and financial systems of the U.S.

To this end, lawmakers want the Treasury to review suspicious activity reports related to World Liberty Financial and its digital wallets to trace the source and movement of funds, verify the true owners behind those wallets, and ensure that all operations fully comply with U.S. laws to prevent money laundering, foreign interference, and other financial crimes.

America PAC of Elon Musk spent more than $250 million on political campaign advertising, giveaways to voters, and messaging that strongly supports Republican candidates in several races, forcing Democratic lawmakers to send an official letter demanding a thorough investigation.

Lawmakers suggest that these large-scale expenditures may have influenced the elections in ways that do not comply with existing campaign finance laws, and they wonder whether America PAC coordinated its spending and messaging directly with Republican candidates' campaigns or concealed the identities of its donors.

The letter cites public examples showing that Musk's America PAC encouraged voters with prizes and conducted aggressive propaganda through social media, which, lawmakers warn, violates legal boundaries by 'paying' or bribing voters to support certain candidates.

Aside from concerns about Musk's PAC, lawmakers emphasize that the Treasury should investigate WinRed, the dominant online fundraising platform used by the Republican Party to raise millions of dollars in donations, to confirm whether it has verified donor identities, filtered out legitimate or foreign contributions, and ensured that all processed funds comply with U.S. campaign finance laws.

Democrats specifically pointed to the potential for improper connections between Musk's America PAC activities and public endorsements or promotional events involving Musk's companies, such as Tesla.

Lawmakers have reached out to the Financial Crimes Enforcement Network (FinCEN) of the Treasury Department, asking them to review suspicious activity reports (SARs) related to Elon Musk's America PAC, the Republican Party's WinRed platform, and other affiliated organizations to confirm their investigations and track real suspicious financial violations, uncover any hidden or illegal donations, and ensure full compliance with the law.


#TradeWarEases

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After reading this news, the words of Korney Chukovsky immediately came to my mind:

'...the wolves, in fright, devoured each other...' (and so on)

The most heartwarming thing for me was how they (the victims in this case, after being ousted from power and the redistribution of resources - the Democrats), immediately became more meticulously 'turning to the letter of the law!!' 🙄, and demanding legislative scrutiny, forgetting how before that (under Biden!!), they themselves engaged in approximately the same (+/-) abuses in power!!!

It very much reminds me of Ukraine, where, before each of the coups (2001, 2004, 2013-2014), buying votes for voters - 'FOR buckwheat!!', the people's so-called 'Chosen Ones!!', with foam at the mouth, denounce their predecessors in power... 🤫

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And what thoughts does all this provoke in you, dear readers..??!