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Democrats call for investigation into Trump family crypto deal over potential foreign influence

  • Congressional Democrats are divided on cryptocurrency regulations, with some supporting industry growth and others opposing it.
  • Senators Jeff Merkley and Elizabeth Warren requested an investigation into a possible conflict involving a crypto deal between Trump-affiliated World Liberty Financial and state-backed Emirati firm MGX, citing national security risks and potential violations of the Constitution.
  • Merkley announced plans to introduce a bill that would prohibit presidents and lawmakers from endorsing cryptocurrencies, emphasizing the need to address possible corruption due to the Trump family's crypto ventures.
  • Concerns have grown among Senate Democrats regarding pending cryptocurrency legislation that may benefit Trump, as they fear it could facilitate foreign influence and money laundering.
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Benzinga broke the news in New York, United States on Monday, May 5, 2025.
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