What happened? A member of the US House of Representatives from Virginia, Democrat Gerald Connolly, called on the State Operations Committee to investigate whether Donald Trump's crypto projects contradict his presidential duties. In a letter to the committee's chairman, Republican James Comer, he noted that Trump could already profit from his DeFi platform World Liberty Financial and the TRUMP meme token, which violates ethical standards and creates risks to national security.

What else is known? Connolly is particularly concerned about World Liberty Financial, as its largest investor is the founder of the TRON blockchain and the head of the HTX and Poloniex exchanges, Justin Sun, who was previously accused of securities fraud by the Securities and Exchange Commission (SEC).

Such financial ties raise "serious concerns about national security" in connection with the possibility of foreign influence on US policy, the congressman added.