The cryptocurrency company World Liberty Financial (WLFI), directly linked to President Donald Trump and his family, has officially responded to the investigation initiated by Democratic Senator Richard Blumenthal, while also denying multiple allegations from this legislator.
WLFI strikes back: "We do not operate in the shadows"
In a letter sent to Senator Blumenthal, the legal representative of the company stated that:
“not operating in the shadows, but building a new generation financial infrastructure that is auditable, based on trust, the rule of law, and America's economic leadership.”
The company's lawyer asserts that the allegations made by Mr. Blumenthal are inaccurate and misinterpreted, emphasizing that WLFI has no ties to Fight Fight Fight LLC – the company behind the controversial memecoin TRUMP.
The real goal: The Trump family and Web3 influence
Senator Blumenthal's investigation, while not carrying the full legal weight of the Senate Permanent Subcommittee on Investigations, targets individuals connected to WLFI, including Zach Witkoff, Zak Folkman, and Eric Trump – the son of the president.
All three of them will attend the Consensus 2025 event in Toronto, where Eric Trump is introduced as the "Web3 Ambassador," and Mr. Donald Trump is the "Chief Crypto Advocate" on WLFI's website.
The Trump family: “We love the crypto community”
At the event, Eric Trump shared:
“We really love the crypto community, and I think the community feels that too. We are proud to be an important part of this industry.”
Eric also revealed that he is preparing to take a crypto mining company public through a merger, as part of the Trump family's long-term strategy with the Web3 sector.
Impact on the crypto market and Binance users
Despite being under investigation, the Trump family's strong defense of WLFI shows a serious ambition to build influence in the cryptocurrency space, particularly with stablecoins, memecoins, and Web3 infrastructure.
For Binance users, this is a clear sign that crypto is becoming a major political topic, which could influence policies, laws, and even financial products related to stablecoins or altcoins. The public support of crypto by a sitting president and his family will certainly boost market confidence, but it also brings potential legal and political risks.
Risk warning: The cryptocurrency market is always fraught with volatility and lacks a clear legal framework in many countries. Investors need to be cautious of political factors, legal risks, and significant price fluctuations. Investing in crypto is not for everyone and requires careful consideration.
