Senator Richard Blumenthal, the rating member of the Senate Subcommittee on Investigations, reached out to each World Liberty Monetary and Battle, Battle, Battle LLC, a agency related to the $TRUMP memecoin.
Blumenthal claimed that “WLFI may be enabling the violation of government ethics requirements, seeking investments from foreign governments, facilitating financial transactions with foreign nationals under federal prosecution, and potentially violating federal laws, including the foreign emoluments clause of the constitution.”
The letter additional highlights how “the President will also directly financially benefit from WLFI’s partnership with the Emirati state-owned MGX and any other dealings with foreign governments, violating the Constitution’s ban on gifts and payments from foreign governments.”
The Block has printed World Liberty Monetary’s response, which responds to only a few of the claims in Blumenthal’s letter.
This letter claims that USD1 “is a fully reserved stablecoin backed exclusively by U.S. Treasuries and cash equivalents,” although this isn’t a indisputable fact that has but been supported by any audits or attestations.
Moreover, the letter claims that “WLFI is not operating in the shadows. It is building a next-generation, auditable financial infrastructure rooted in American trust, rule of law, and economic leadership.” Apparently not a part of this set of values is permitting governance token holders to direct the agency’s plans on this stablecoin, as no governance vote associated to this coin has occurred.
Moreover, World Liberty claims the senator’s letter incorporates an error, particularly “the unfounded assertion of non-existent relationships-for instance, WLFI has no affiliation, formal or informal, with Fight, Fight, Fight, LLC.”
Surprisingly, this assertion doesn’t exist in Blumenthal’s letter, although there’s a query in that letter that asks them to explain any relationships with this entity.
Battle, Battle, Battle, LLC is likely one of the companies behind $TRUMP, the memecoin endorsed by the “Chief Crypto Advocate” for World Liberty Monetary, Donald Trump.
Moreover, Trump-affiliated CIC Digital reportedly owns a portion of Battle, Battle, Battle, LLC, which appears as if it could represent on the very least an off-the-cuff relationship centered round World Liberty Monetary’s “Chief Crypto Advocate.”
On the very least, there exists a standard celebration who’s benefiting from overseas people and entities investing in these initiatives whereas he occupies the Oval Workplace.
Protos reached out to World Liberty Monetary on X for clarification on this relationship, but it surely didn’t instantly reply.
