On February 26th, the SEC and Sun wrote to Edgard Ramos. Edgard Ramos is a federal judge overseeing the case and asked him to “keep this case up so that the parties can explore potential resolutions.”
“The lawsuit against Sun appeared to Ironclad,” reported industry newsletter Coingeek.
However, it doesn’t seem to bother with the new look of SEC. It’s worth mentioning that Sun purchased a WLFI worth $75 million. This is the governance token of President Donald Trump’s decentralized financial project, World Liberty Financial (WLF).
Jacob Silverman, author of “Easy Money: The Golden Age of Cryptocurrency, Casino Capitalism, and the Fraud,” said he views solar investment as a particularly open attempt to curry favors. “The president took $75 million in bribes and we all saw it,” he posted to his subsack.
In an April 29th Times article, we explore Trump’s crypto trading. “Secret trading, foreign investment, and changes in presidential policy: The rise of Trump’s crypto companies,” wrote Eric Lipton, Jaffe Belany and Ben Protes.
None of the other business efforts of the Trump family brings a conflict of interest compared to those who have emerged since the birth of world freedom. The company, which is primarily owned by Trump’s family businesses, erases centuries-old presidential norms and divides the boundaries between private and government policies without precedent in modern American history.
Lipton, Jaffe Belany and Protes discovered:
World freedom benefits directly from Trump’s official actions, including his announcement of a federal crypto stockpile, including the company’s investments.
World Liberty has sold cryptocurrency to foreign investors, including Israel and Hong Kong. According to interviews and data obtained by The Times, foreign companies have established a new pathway for currying favors to Trump.
Several investors in World Liberty coin-managed companies that the federal government has been accused of fraud. They include executives whose fraud cases have been suspended after investing millions of dollars into world freedom. Other investors and business partners, some have not been previously publicly identified, but are trying to expand in ways that require Trump administration approval.
World Liberty proposed a cryptocurrency exchange with at least five startups, using Trump’s name to sought sudden payments as part of the transaction. Even in an industry with a reputable history, the deal has sparked vigilance among veteran executives.
Trump’s cryptocurrency venture has sparked widespread criticism from Democrats. “It’s incredibly brave. The president sells access to the White House as a mechanism to enrich himself personally,” declared Sen. Chris Murphy of Connecticut. And some Republicans are beginning to raise concerns.
He asked what Trump is thinking about dinner for his meme token, Sen. Cynthia Ramis, Republican of Wyoming, and Sen. Cynthia Lumis, head of the Senate Banking Subcommittee on Digital Assets. Ramis, a strong Trump supporter, said the cryptocurrency industry is “Wild West, so when I hear about this, my reaction is:
“It may seem like a cry about the meme coin, but it’s legal,” Ramis continued.
