Democratic Senators Call for Investigation into World Liberty Financial’s Alleged North Korean Links

Senators Elizabeth Warren and Jack Reed have requested the U.S. Department of Justice and the Department of the Treasury to investigate World Liberty Financial, a company associated with the Trump family, for possible connections to unlawful activities linked to North Korea and Russia. This follows a report suggesting that the crypto firm dealt with suspicious buyers and networks engaged in money laundering.

Key Takeaways

Senators Elizabeth Warren and Jack Reed have called for an investigation into World Liberty Financial.
The investigation is focused on the company's alleged connections to illicit actors in North Korea and Russia.
A report claims the firm sold tokens to questionable buyers associated with money laundering and hacking.
World Liberty Financial has denied any wrongdoing or conflict of interest.
Donald Trump and his sons have roles in the company, attracting regulatory scrutiny.

Senators Demand Investigation into World Liberty Financial

Democratic Senators Elizabeth Warren (D-MA) and Jack Reed (D-RI) are urging the Department of Justice (DOJ) and the U.S. Department of the Treasury (UST) to investigate World Liberty Financial due to its alleged connections to illicit activities in North Korea and Russia. This call comes from a report by CNBC that was released on Tuesday.

Elizabeth Warren and Jack Reed Push for Probe

According to CNBC, Senators Reed and Warren sent a letter to Attorney General Pam Bondi and Treasury Secretary Scott Bessent on November 12, pushing for the probe. In their correspondence, they referenced a report from the nonprofit watchdog Accountable.US from September 2025. This report alleged that "the Trump family crypto firm sold tokens to dozens of suspicious buyers who interacted with a large money-laundering platform, an Iranian crypto exchange, and even North Korean hackers."

The Accountable.US report posed a critical question: “Why did the Trump family crypto firm accept funds from individuals with clear ties to enemies of the United States and those facilitating money laundering?”

Despite these allegations, World Liberty Financial has refuted any claims of conflict of interest or misconduct outlined in the CNBC report.

World Liberty Financial Under Scrutiny

Former U.S. President Donald Trump, who has promoted a favorable regulatory environment for cryptocurrency, is noted as “co-founder emeritus” on World Liberty Financial's website. His sons, Donald Jr. and Eric, are designated as the platform’s “Web3 ambassadors,” while Barron is labeled as its “DeFi visionary.”

Senator Elizabeth Warren has frequently criticized Trump and his involvement in the crypto sector. Recently, she and Senator Jeff Merkley (D-OR) sent a letter to the CEOs of MGX and Binance. They requested that these companies maintain and provide documentation related to their use of World Liberty Financial’s USD1 stablecoin.

“To assist us in understanding how President Trump’s financial interest in USD1 may have influenced your companies’ choices to utilize this stablecoin instead of other payment methods not connected to the U.S. President, we seek further information and documents from MGX and Binance,” the senators stated.

As of now, it remains uncertain whether Warren’s current push for an investigation into World Liberty Financial’s operations will yield any results.