Senator Warren Presses Treasury on Trump-Linked Crypto Firm Amid Senate Market Structure Bill Negotiations
On November 18, 2025, Senators Elizabeth Warren and Jack Reed sent a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi demanding information about World Liberty Financial Inc.'s (WLFI) token sales to North Korea, Russia, and other illicit actors. The letter challenges WLFI's due diligence policies and raises concerns whether its tokens facilitate sanctions evasion, money laundering, and terrorist financing.
The senators argue that WLFI's connections present conflicts of interest amid the White House's push for crypto-friendly policies that could benefit former President Trump's financial interests. This scrutiny comes as Democrats on the Senate Banking Committee are divided over crypto legislation, with Warren maintaining a hardline stance while other members negotiate a market structure bill alongside Republicans.
Lawmakers aim to mark up this crypto market structure bill in the Senate Banking Committee before the end of the year. Meanwhile, the Agriculture Committee's draft bill still contains gaps that require resolution. Crypto lobbyists have noted that closed-door talks among senators have been unusually secretive, suggesting substantive negotiation on the bill's language.
Accountable.us, a nonprofit cited in the report, has spotlighted WLFI's token sales as central to the concerns expressed by Warren and Reed. Despite some resistance from the ranking member of one committee that could jeopardize the bill's passage, the intra-party divisions give some hope for progress on crypto legislation.
