As Donald Trump’s administration has cut regulations for the cryptocurrency industry, the crypto firm World Liberty Financial, in which the Trump family has a large financial stake, has grown quickly by launching its own “stablecoin” and another digital token, prompting watchdogs and experts to warn of Trump’s conflicts of interest and economic hazards.
Some key congressional Democrats and watchdogs are raising new red flags about the US president’s growing conflicts of interest involving cryptocurrencies and risks to investors and the economy posed by multiple deregulatory crypto actions at federal agencies.
