Citing a watchdog report alleging illicit financial connections, Senators Elizabeth Warren and Jack Reed are urging federal agencies to investigate World Liberty Financial, a cryptocurrency firm with close ties to the Trump family.

In a letter sent on November 12, the two Democratic senators called on the Department of Justice (DOJ) and the U.S. Department of the Treasury (UST) to probe the company. The request stems from a September 2025 report by the nonprofit group Accountable.US, which claimed the firm sold tokens to dozens of suspicious buyers. According to the report, these buyers had interacted with a major money-laundering platform, an Iranian crypto exchange, and even North Korean hackers.

The Accountable.US report questioned why the Trump family’s firm would accept money from individuals and entities with clear connections to U.S. adversaries. In response to the allegations, World Liberty Financial has denied any conflict of interest or wrongdoing.

Scrutiny Mounts on Trump Family’s Crypto Venture

World Liberty Financial’s website lists former President Donald Trump as its “co-founder emeritus.” His sons, Donald Jr. and Eric, are named “Web3 ambassadors,” while his youngest son, Barron, serves as the firm’s “DeFi visionary” for its work in Decentralized Finance (DeFi).

Senator Warren has been a vocal critic of Trump’s involvement in the digital asset industry. In June, she and Senator Jeff Merkley sent a letter to the CEOs of MGX and Binance, requesting communications related to their use of World Liberty Financial’s stablecoin, USD1. The senators sought to understand if Donald Trump’s financial stake in the token influenced the companies’ decision to adopt it over other alternatives.

It remains unclear whether this latest call for an official investigation into World Liberty Financial’s business dealings will be successful.