World Liberty Monetary, the crypto enterprise tied to President Donald Trump and his household, is pushing again in opposition to scrutiny from U.S. Senator Richard Blumenthal, the main Democrat on a panel answerable for investigating corruption and mismanagement.
“WLFI shouldn’t be working within the shadows,” in response to a letter the corporate’s legal professionals despatched to the Connecticut senator. “It’s constructing a next-generation, auditable monetary infrastructure rooted in American belief, rule of regulation and financial management.”
Blumenthal had focused his personal letter at co-founder Zach Witkoff — set to seem alongside fellow co-founder Zak Folkman and Eric Trump at Consensus 2025 in Toronto on Friday — and requested concerning the possession and funding construction for Trump-affiliated entities, together with WLFI and Combat Combat Combat LLC, the corporate behind the TRUMP memecoin. Since he isn’t within the majority social gathering, Blumenthal’s probe would not carry the total drive of the Senate’s Everlasting Subcommittee on Investigations, a panel housed throughout the Committee on Homeland Safety and Authorities Affairs.
The WLFI response stated Blumenthal’s request “accommodates inaccuracies and elementary flawed inferences that we are going to not handle in full,” however the legal professionals supplied the instance that WLFI has no affiliation with Combat, Combat, Combat LLC.
“The corporate rejects the false alternative between innovation and oversight,” the letter stated. “What it opposes is the misuse of regulatory authority and uncertainty to suppress lawful innovation.”
The president’s son, Eric, who’s listed as a Web3 ambassador on the WLFI web site alongside his father, the “chief crypto advocate,” additionally appeared at Consensus 2025 on Thursday to elucidate how he entered crypto and why he launched a mining agency set to go public through a merger.
“We have now come to like the crypto neighborhood, and I feel the crypto neighborhood has actually come to like us,” he informed a crowded home in Toronto. “We’re so proud to be an enormous a part of it.”
The Trump household’s crypto ties have additionally been raised by Senate Democrats objecting to digital belongings laws working its approach by way of Congress. Even so, a stablecoin regulation invoice is anticipated to return up for a key vote subsequent week.
Learn Extra: Eric Trump Says He Bought Into Crypto Amid Political Assault, Calls Bitcoin ‘Digital Gold’
