Senior House Democrats have submitted a formal request to the US Treasury Department, seeking the disclosure of all suspicious activity reports related to President Donald Trump's cryptocurrency ventures. In a letter addressed to Treasury Secretary, Representatives Gerald Connolly, Joe Morelle, and Jamie Raskin, who are ranking members of key House committees, have urged an immediate investigation into Trump's blockchain initiative, World Liberty Financial, and the $TRUMP memecoin, citing potential breaches of campaign finance laws, bribery statutes, and securities regulations. The lawmakers aim to assess whether legislative action is necessary to prevent violations of anti-corruption laws, campaign finance rules, and consumer protection regulations in connection with fundraising activities by federal officeholders and candidates.
This inquiry comes as part of a broader effort to examine potential financial misconduct linked to current or prospective federal officials, including deceptive campaign fundraising practices and illicit foreign influence. The request specifically focuses on the Trump family's launch of World Liberty Financial and the $TRUMP memecoin, as well as Elon Musk's America PAC, and whether these entities are misusing Trump's name to solicit donations under false pretenses.