Trump Faces Senate Subcommittee Inquiry Over ‘Crypto Corruption’

Democratic senator Richard Blumenthal is investigating how President Donald Trump’s crypto business ventures are potentially violating federal laws. U.S. Senator Richard Blumenthal Blumenthal announced that the Senate Permanent Subcommittee on Investigations would be opening a preliminary inquiry into the launch of the president’s cryptocurrency, “Chillingly, TRUMP allows, and even invites, anyone in the world, including foreign governments and unscrupulous individuals, to directly enrich the president, while hiding potential payoffs in the pseudonymity of the blockchain,” Blumenthal said in his announcement, quoting a letter to he wrote to the developer of the Official Trump cryptocurrency, Bill Zanker.The new commander-in-chief ahead of his January inauguration launched a Solana-based meme coin called Official Trump—which trades as Democrats have alleged that the new commander in chief has profited from the virtual coin’s launch, but the president has denied this and avoided questions on the matter. The president is also associated with an Ethereum-based decentralized finance project, World Liberty Financial. Trump’s sons, Eric and Donald Jr., first Decrypt In April, President Trump also The announcements have drawn ire from Democratic lawmakers, who President Trump Edited by James Rubin