U.S. Senators demand investigation into Trump's encryption project, suspected of being linked to illegal actors in North Korea and Russia.

On November 18, according to CNBC, two U.S. senators are urging the Justice Department and the Treasury Department to investigate a crypto company closely linked to President Trump's family, which is suspected of having ties to illegal actors in North Korea and Russia. On Tuesday, U.S. Senators Elizabeth Warren (Democrat, Massachusetts) and Jack Reed (Democrat, Rhode Island), minority members of the Senate Banking, Housing, and Urban Affairs Committee, expressed concerns in a letter to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent, stating that the crypto company World Liberty Financial, controlled and operated by the Trump family, may pose national security risks. The letter obtained exclusively by CNBC shows that the senators noted that World Liberty Financial lacks adequate safeguards to prevent bad actors from transferring funds or affecting corporate governance. The letter cited a report released in September by the nonprofit oversight organization Accountable.US, which stated that World Liberty Financial has sold its WLFI Token to “various highly questionable entities.” The oversight organization claimed that these entities include traders linked to the notorious North Korean hacker organization on-chain, a sanctioned Russian “ruble-backed sanction evasion tool,” an Iranian crypto exchange, and the notorious money laundering platform Tornado Cash.