Trump’s Lawyer Responds to Allegations of Conflict of Interest
Donald Trump’s attorney for the World Freedom Financial Cryptograph project has addressed claims about possible conflicts of interest raised by the Democratic president of the Senate Research Subcommittee.
In a letter dated May 15, the legal representatives asserted, “We have used strict diligence to ensure compliance with applicable legal and regulatory obligations at every stage.” The Crypto Project also distanced itself from any connection to the company behind Trump Memocoin and its CEO, Bilzanker.
This month, Connecticut Senator Richard Blumenthal, a prominent Democrat on the subcommittee, reached out for more information regarding the project. In a letter to World Liberty co-founder Zach Witkoff, Blumenthal criticized the initiative for potentially generating significant financial gains for the founder and the Trump family. This correspondence followed reports of a private dinner with President Trump and an exclusive White House tour for top holders of Trump’s Memocoin, scheduled for May 22.
Blumenthal remarked, “This highly inadequate response conveniently avoids the fact that foreign and other governments can enrich and compromise the president through the world’s Liberty Financial.” He expressed concerns over World Liberty Financial’s lack of transparency about President Trump’s financial ties to the company, stating, “It raises serious concerns. I will continue to demand transparency from Americans.”
Democratic senators are increasingly worried about potential conflicts of interest involving Trump and the cryptocurrency space. Recently, Senators Elizabeth Warren and Jeff Merkley urged World Liberty to keep records of its communications with the Trump administration, particularly concerning its new stubcoin, USD1. They are especially focused on a deal that President Trump announced, where Abu Dhabi’s MGX invested $2 billion in the cryptocurrency exchange Binance before he traveled to the Middle East.
On Friday, World Liberty announced plans to collaborate with ChainLink to facilitate cross-chain transfers of the USD1 Stablecoin across Ethereum, BNB chains, and other networks.
The legal representation for World Liberty Financial and Witkoff includes Teresa Goody Gillen and Jonathan R. Barr from the law firm Baker & Hostetler LLP. Notably, Goody Gillen had been considered for a position leading the Securities and Exchange Commission under Trump.
Reports suggest that Binance, which had previously pleaded guilty to money laundering and sanctions violations, registered Goody Gillen as a lobbyist in late March. She has a background in working alongside enterprises involved in regulatory enforcement, and public records indicate her registration is tied to Binance and its founder, Zhao.
