On Day 2 of Anti-Crypto Corruption Week, Ranking Member Maxine Waters and Committee Democrats are shining a light on Trump’s shady crypto venture, World Liberty Financial. Drawing from the New York Times’ exposé : Secret Deals, Foreign Investments, Presidential Policy Changes: The Rise of Trump’s Crypto Firm.

World Liberty Financial (WLF), a self-described Decentralized Finance cryptocurrency firm, largely owned by Donald Trump and his family, has blurred the line between presidential power and private profit. Since Trump’s return to the White House, the company has profited from favorable policy changes and aggressive international fundraising, raising over $550 million – with 75% of coin sales revenue flowing to the Trump family.

Who’s Involved?

Founded by Trump’s sons with business partners Zachary Folkman, Chase Herro, and Zach Witkoff, World Liberty pitched secretive “mutual investment” deals requiring large payments for Trump brand association. Some firms declined, calling it unethical.

Fraudulent Stablecoin Launch:

World Liberty Financial announced its stablecoin, USD1, right after Trump endorsed the GENIUS Act, stablecoin legislation the House is rushing through Congress now. Partners include Binance, whose founder is seeking a Trump pardon.

A Vessel for Political and Regulatory Influence:

As discussed on day 1, Trump reversed his anti-crypto stance. He then moved immediately to stacking his Administration with crypto-friendly appointees and dissolving Biden-era enforcement task forces (*More on this on Day 4. *). He declared crypto “the future” and launched a U.S. “crypto reserve,” causing price surges in coins held by World Liberty and other Trump Administration insiders.

That’s not all. In late 2024, crypto billionaire and businessman, Justin Sun invested $30 million in WLF, eventually increasing his stake to $75 million, making him the largest investor in the token. Following this investment, WLF announced it would use Sun’s technology to power its stablecoin. Soon after, the SEC paused its fraud investigation into Sun and his companies, which had been ongoing since 2023. This is the textbook definition of quid pro quo.

For more on Justin Sun, check out this story from the Guardian and Mother Jones.
WLF is another vehicle for Trump to profit and he’s not even trying to hide it.

To stop Trump’s WLF scheme, Members of Congress must vote “NO” on the so-called “CLARITY” and “GENIUS” Acts which give Trump a greenlight to continue this scam. Congress should also pass Ranking Member Waters’ “Stop TRUMP in Crypto Act of 2025.”

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