The new members of Congress haven’t even taken office yet, and the reckoning has already begun: $WLFI and $TRUMP are going to have to pay, and $BNB could even be implicated.
WLFI previously made a big show of leveraging Trump’s family connections. Now it’s first in line to be investigated. Binance could also get caught up in this, given its close ties with USD1 and the fact that CZ received a pardon.
Still, BNB has a large market cap and strong fundamentals, and it has little connection to this affair, so it shouldn’t be fazed by this minor negative news.
Garcia, who is expected to take over as chair of the House Oversight Committee when Congress convenes next January, has already sent Trump’s family a message: “Get a lawyer.” Warren, who is widely expected to take over as chair of the Senate Banking Committee, has repeatedly called WLFI’s dealings corrupt.
The main issue is that WLFI and TRUMP aren’t exactly clean either:
1. The UAE’s national security adviser poured $500 million into WLFI shares, with an initial payment of about $200 million going directly to Trump’s family. The U.S. government later approved the sale of advanced AI chips to the UAE.
2. A statistical report says Trump’s family made billions of dollars from tokens such as TRUMP and WLFI.
3. Trump’s youngest son’s ties to prediction markets Kalshi and Polymarket have also drawn the attention of the Senate Permanent Subcommittee on Investigations.
WLFI previously made a big show of leveraging Trump’s family connections. Now it’s first in line to be investigated. Binance could also get caught up in this, given its close ties with USD1 and the fact that CZ received a pardon.
Still, BNB has a large market cap and strong fundamentals, and it has little connection to this affair, so it shouldn’t be fazed by this minor negative news.
Garcia, who is expected to take over as chair of the House Oversight Committee when Congress convenes next January, has already sent Trump’s family a message: “Get a lawyer.” Warren, who is widely expected to take over as chair of the Senate Banking Committee, has repeatedly called WLFI’s dealings corrupt.
The main issue is that WLFI and TRUMP aren’t exactly clean either:
1. The UAE’s national security adviser poured $500 million into WLFI shares, with an initial payment of about $200 million going directly to Trump’s family. The U.S. government later approved the sale of advanced AI chips to the UAE.
2. A statistical report says Trump’s family made billions of dollars from tokens such as TRUMP and WLFI.
3. Trump’s youngest son’s ties to prediction markets Kalshi and Polymarket have also drawn the attention of the Senate Permanent Subcommittee on Investigations.
