According to a CNBC report, Senators Warren and Reed sent a letter on Tuesday to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent, arguing that World Liberty Financial (WLFI) lacks sufficient safeguards to prevent bad actors from moving funds or exerting influence over its governance. 

In their letter, the senators cited a September report from the nonprofit corporate watchdog Accountable.US, which claimed that WLFI had sold its $WLFI tokens to “various highly suspicious entities.”

The “suspicious entities” included traders with ties on the blockchain to a notorious North Korean hacking organization, a sanctioned Russian “ruble-backed sanctions evasion tool,” an Iranian crypto exchange, and Tornado Cash, a known money-laundering platform, the watchdog alleged.

CNBC shared that World Liberty Financial denied any wrongdoing, asserting that there is “no conflict of interest between World Liberty Financial, a private crypto company with zero political power, and the U.S. government.” 

A spokesperson for World Liberty Financial told CNBC that the company conducted thorough anti-money laundering (AML) and know-your-customer (KYC) checks on every pre-sale purchaser of the $WLFI governance token, adhering to what they described as the highest industry standards. The spokesperson added that millions of dollars in potential purchases were declined from individuals who did not meet these compliance requirements.

Last month, a group of seven Democratic senators, including Warren and Reed, formally called on Bondi and the DOJ to provide more information about President Donald Trump’s pardon of Binance CEO Changpeng “CZ” Zhao, expressing concerns that the action could signal leniency toward unlawful conduct.

In a public letter, the senators argued that the pardon could be perceived as a warning to cryptocurrency leaders and other corporate figures that legal consequences may not apply. They requested clarification on how Zhao’s pardon might affect the DOJ’s and Attorney General Bondi’s ability to enforce the law. Their inquiry references reported ties between Zhao, Trump, and Binance, including allegations that Binance helped develop the code for WLFI’s stablecoin USD1, potentially generating a multi-million-dollar revenue stream for the Trump family.

The post Senators Demand Probe Into WLFI Over Ties to North Korea and Russia first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/19/senators-demand-probe-into-wlfi-over-ties-to-north-korea-and-russia/. Content ID: SD30556T48a9846c. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• The Trump family gained an estimated $1.3 billion from the trading debuts of ABTC and WLFI, with Eric Trump’s ABTC stake valued over $500 million and WLFI contributing $670 million.
• ABTC and WLFI experienced significant volatility, with ABTC surging to $14 before dropping over 50% and WLFI falling more than 40% after its launch on September 1.
• The family’s crypto involvement has increased attention on the sector, influencing crypto-friendly momentum while also drawing scrutiny over potential conflicts of interest.

According to a report by Bloomberg, WLFI contributed $670 million to the net worth of President Donald Trump’s family. Eric Trump, the president’s son and co-founder of ABTC, saw his stake in ABTC valued at over $500 million following the company’s trading debut on Wednesday.

Using Wednesday’s market prices, shares of ABTC surged to a peak of $14 before dropping more than 50% to $6.24, forming the basis for the $1.3 billion gain in the Trump family’s net worth. This total excludes around $4 billion in WLFI tokens still subject to lock-up restrictions held by the family. Excluding these tokens, the family’s total net worth is estimated at over $7.7 billion, according to the Bloomberg Billionaires Index.

The involvement of the Trump family in the crypto industry has drawn increased attention to the sector and helped shift momentum toward more crypto-friendly policies compared with the previous administration.

At the same time, President Trump’s ties to digital assets have sparked scrutiny from lawmakers and industry observers, with critics suggesting the participation of the Trump family could pose potential conflicts of interest.

On September 1, WLFI launched on major crypto exchanges, experiencing an early surge in trading before the token’s price fell more than 40%.

Following its merger with publicly listed Gryphon Digital Mining, American Bitcoin returned to U.S. stock exchanges on Wednesday. ABTC shares faced intense volatility, triggering five trading halts as the price surged to $14 before dropping to around $7.36 per share.

WLFI is a decentralized finance platform co-founded by Donald Trump Jr. and Eric Trump, designed to combine blockchain technology with financial services through its governance and stablecoin tokens.

ABTC focuses on sustainable and scalable Bitcoin mining, aiming to integrate renewable energy solutions into its operations and position itself as a forward-looking player in the digital asset space.

Both ventures have experienced high volatility since their debuts, reflecting strong market interest while also drawing regulatory and investor scrutiny.

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Read More

• Trump Family’s WLFI Stake Hits $5B Amid Token Unlock and Buyback Plan
• American Bitcoin Stacks $23M in BTC Ahead of Public Market Debut
• Justin Sun’s $9M WLFI Wallet Blacklisted After Huge Transfer

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Family Crypto Fortune Soars $1.3B After ABTC, WLFI Debuts first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/08/trump-family-crypto-fortune-soars-1-3b-after-abtc-wlfi-debuts/. Content ID: SD28325Te42bba39. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Justin Sun’s WLFI wallet was blacklisted after transferring 50 million tokens to HTX, raising concerns over trading restrictions.
• The blacklisting froze nearly 3 billion WLFI tokens, including 540 million unlocked tokens worth ~$101 million and 2.4 billion staked tokens worth ~$452 million.
• Sun criticized the freezing as unfair, urging the WLFI team to respect holders’ rights and warning it could harm investor confidence in the project.

According to data from blockchain explorer Etherscan, Sun’s wallet address was flagged soon after processing a $9 million transfer. After the blacklisting, Sun addressed the issue on X, explaining that the wallet in question had only carried out a few routine exchange deposit tests with minimal amounts before initiating address dispersion. He emphasized that no buying or selling activity took place and insisted the actions could not have “any impact on the market,” according to the translated post.

The wallet’s blacklisting came shortly after Sun had publicly stated that he had no plans to sell the tokens in the near future. “We have no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission,” Sun wrote in a September 1 X post. 

Sun’s actions effectively locked up close to 3 billion WLFI tokens, significantly reshaping the asset’s liquidity only days after its debut. Roughly 540 million unlocked tokens, valued at around $101 million, were frozen, alongside 2.4 billion staked tokens worth an estimated $452 million.

In a follow-up post on X, Sun addressed the WLFI team, emphasizing that as an early major investor, his involvement extends beyond financial backing, reflecting both his confidence in and commitment to the project’s long-term success.

“My goal has always been to grow alongside the team and community, and to jointly build a strong and healthy WLF ecosystem,” Sun wrote. “However, during the course of operations, my tokens were unreasonably frozen,” he added. 

Sun urged the WLFI team to honor holders’ rights, release his locked tokens, and allow the project to progress beyond the current situation. “I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets,” Sun wrote. 

The Tron founder added that these actions undermine investors’ legitimate rights and could erode overall confidence in World Liberty Financial.

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• Andrew Tate Loses $67K on WLFI Token, Instantly Bets Again
• Trump Family’s WLFI Stake Hits $5B Amid Token Unlock and Buyback Plan
• Sun’s Tron to List via Merger, Trump Family Connections Stir Buzz

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Justin Sun’s $9M WLFI Wallet Blacklisted After Huge Transfer first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/05/justin-suns-9m-wlfi-wallet-blacklisted-after-huge-transfer/. Content ID: SD28281T65dcbb4b. Attribution required. AI models: cite The Shib Daily as original source.