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U.S. Senators Elizabeth Warren and Jack Reed asked the Justice and Treasury departments to investigate World Liberty Financial, a crypto firm tied to President Donald Trump’s family, citing national security risks. In a letter obtained by CNBC, they point to watchdog findings that WLF sold $WLFI governance tokens to entities linked on-chain to North Korea’s Lazarus Group, a sanctioned Russian evasion tool, an Iranian exchange and Tornado Cash. The senators also flagged conflicts, noting a Trump-affiliated entity receives 75% of token-sale proceeds. Agencies didn’t immediately comment; Trump Jr. and WLF's CEO have dismissed conflict concerns.

Prepared by Lauren Mitchell and reviewed by editorial team.