""Your failure to divest your ownership in these assets raises serious questions about your compliance with federal ethics laws and, more importantly, ability to serve the American people over your own financial interests," wrote the senators. World Liberty Financial, the crypto business Witkoff cofounded with the President in 2024, said in May that the special envoy was in "the process of fully divesting" from the project."
"Witkoff has since divested a $120 million stake in his real estate company but hasn't yet sold his crypto holdings, according to his most recent ethics disclosure, dated Aug. 13. The Trump advisor still owns cryptocurrency for World Liberty Financial as well as shares in WC Digital Fi LLC, an entity mentioned in World Liberty Financial's documentation as "an affiliate of Steve Witkoff and certain of his family members.""
Senate Democrats, led by Sen. Adam Schiff, sent Steve Witkoff a letter demanding explanation for his continued ownership of stakes in a Trump-linked cryptocurrency and other crypto entities. Witkoff cofounded World Liberty Financial with President Trump in 2024; World Liberty said in May that he was "the process of fully divesting" from the project. His August 13 ethics disclosure shows he divested a $120 million real estate stake but still holds cryptocurrency tied to World Liberty and shares in WC Digital Fi LLC, WC Digital SC LLC, and SC Financial Technologies LLC. Senators raised potential conflicts given World Liberty's ties to the U.A.E. Spokespeople for World Liberty Financial and the White House did not immediately respond to requests for comment.
Read at Fortune Crypto
Unable to calculate read time
Collection
[
|
...
]