Elizabeth Warren Criticizes WLFI for Directing Funds to Insiders While Retail Investors Struggle

WLFI0.86%

According to Bloomberg, Democratic Senator Elizabeth Warren recently criticized World Liberty Financial (WLFI), a cryptocurrency project backed by the Trump family, over allegations that insiders are cashing out while ordinary investors face difficulties. Warren highlighted a Bloomberg report indicating that most funds raised through private token sales were directed to entities related to the project’s founders, with investors left with limited exit options.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Hong Kong SFC Adds StableStock and HabitTrade to Warning List on May 8

According to the Hong Kong Securities and Futures Commission (SFC), the regulator added StableStock and HabitTrade to its warning list on May 8 after discovering that the unlicensed platforms were inducing the public to use their services through online videos. The platforms claimed they could

GateNews26m ago

Senator Warren Demands Meta Respond by May 20 on Stablecoin Trial Ahead of 2026 Rollout

According to Senator Elizabeth Warren, on May 8 she demanded that Meta CEO Mark Zuckerberg respond to seven detailed questions by May 20 regarding the company's plans to integrate a third-party stablecoin into its platform by the second half

GateNews49m ago

Fed Confirms $25B Tokenization Surge, Flags DeFi Risks

Federal Reserve Governor Lisa Cook delivered a landmark speech on May 8, 2026, at the Central Bank of West African States Conference in Dakar, Senegal, addressing the rapid growth of tokenized assets in the United States. Cook confirmed that tokenized assets in the U.S. have more than doubled in mar

CryptoFrontier52m ago

AUSTRAC Launches Supervision Campaigns Targeting 36 OTC Operators and 27 Crypto Exchanges

According to AUSTRAC, on May 8, the regulator launched two supervisory campaigns targeting Australia's virtual asset sector, engaging with 36 over-the-counter operators and 27 local crypto exchanges. The campaigns assess how businesses are managing anti-money laundering risks ahead of expanded regul

GateNews1h ago

South Korea Confirms 22% Tax on Cryptocurrency Gains Effective January 1, 2027

According to BlockBeats, South Korea's Ministry of Economy and Finance confirmed on May 8 that it will impose a 22% tax on cryptocurrency trading gains starting January 1, 2027, ending years of political debate over digital asset taxation. Under the revised Income Tax Law, crypto profits from

GateNews4h ago

ECB President Lagarde Warns Euro Stablecoins Pose Risks to Financial Stability and Monetary Policy

According to Bloomberg, ECB President Christine Lagarde warned that euro-denominated stablecoins pose risks to financial stability and monetary policy transmission, questioning their necessity. She stated that while such stablecoins could lower financing costs and enhance the euro's global appeal, t

GateNews4h ago
Comment
0/400
No comments