“Why—beyond the obvious benefit of gaining favor, directly or indirectly, with the Trump administration—did you select USD1, a newly launched, untested cryptocurrency with no track record?” the senators asked.
Responding, World Liberty Financial’s lawyers claimed MGX was simply investing in “legitimate financial innovation,” CBS News reported, noting a Trump family-affiliated entity owns a 60 percent stake in the company.
Trump has denied any wrongdoing in the MGX deal, ABC News reported. However, Warren fears the GENIUS Act will provide “even more opportunities to reward buyers of Trump’s coins with favors like tariff exemptions, pardons, and government appointments” if it becomes law.
Although House supporters of the bill have reportedly
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