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The recent allegations that US President Donald Trump’s cryptocurrency project, World Liberty Financial, made a secret deal with a company owned by the Sheikh of Abu Dhabi continue to dominate the headlines.
Donald Trump stated a few days ago that he was unaware of the agreement.
However, the US House of Representatives has launched an investigation into $WLFI, a cryptocurrency project linked to President Donald Trump.
According to Coindesk, the House of Representatives has requested that World Liberty Financial provide documentation regarding its ownership structure, fund flows, and stablecoin usage.
In this context, a request led by US Democratic Representative Ro Khanna sought detailed property, payment, and governance records to determine the accuracy of the agreement between $WLFI and the UAE company, and whether the $187 million paid under the agreement went to Trump family assets.
Specifically, a request was made to clarify the transaction structure with “Aryam Investment 1,” which was identified as a UAE-linked investment firm.
This investigation comes after the Wall Street Journal (WSJ) reported that an investment firm linked to the United Arab Emirates (UAE) had purchased shares in the company.
The House of Representatives also requested information regarding the use cases of “$USD1,” a dollar-pegged stablecoin issued by World Liberty Financial. $USD1 was used as a payment method in a $2 billion investment transaction involving Binance, and the House is seeking information about the profit structure of the transaction and the reasons for the token’s selection.
World Liberty Financial must submit the requested documents to the House of Representatives by March 1st. The company has yet to issue an official statement.
*This is not investment advice.