World Liberty Monetary, the crypto enterprise tied to President Donald Trump and his household, is pushing again towards scrutiny from U.S. Senator Richard Blumenthal, the main Democrat on a panel answerable for investigating corruption and mismanagement.
“WLFI is just not working within the shadows,” according to a letter the corporate’s attorneys 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 targeted his own letter at co-founder Zach Witkoff — set to appear 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 Battle Battle Battle LLC, the corporate behind the TRUMP memecoin. Since he is not within the majority occasion, Blumenthal’s probe would not carry the complete drive of the Senate’s Everlasting Subcommittee on Investigations, a panel housed inside the Committee on Homeland Safety and Authorities Affairs.
The WLFI response mentioned Blumenthal’s request “comprises inaccuracies and basic flawed inferences that we’ll not deal with in full,” however the attorneys provided the instance that WLFI has no affiliation with Battle, Battle, Battle LLC.
“The corporate rejects the false selection between innovation and oversight,” the letter mentioned. “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 website 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 by way of a merger.
“Now we have come to like the crypto neighborhood, and I feel the crypto neighborhood has actually come to like us,” he instructed 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 manner by way of Congress. Even so, a stablecoin regulation invoice is anticipated to come up for a key vote next week.
Learn Extra: Eric Trump Says He Got Into Crypto Amid Political Attack, Calls Bitcoin ‘Digital Gold’