41 Democratic representatives on the U.S. House Financial Services Committee, led by their leader Gregory Meeks, sent a letter to Treasury Secretary Scott Bessent questioning World Liberty Financial’s (WLFI) National Trust Bank charter application. The letter expressed concerns about systemic risks, foreign ownership, and political pressure, noting that a royal member from the United Arab Emirates purchased approximately half of WLFI for 500 million dollars, with 187 million dollars of that related to Trump-linked entities. It inquired about measures to prevent foreign government officials or politically connected investors from influencing the U.S. financial system through the charter process.
Democrats’ letter to Treasury Secretary Scott Bessent. Source: Meeks.house.gov
WLFI Political Controversies and Risks
Democrats emphasized that digital asset trust structures create risks when combined with untested liquidity and resolution frameworks. They questioned whether Executive Order 14215, which increases White House oversight, could affect the OCC’s independence. Although the WLFI token rose 23% following the announcement of a Trump-linked Mar-a-Lago event, current pressures continue. Senate Banking Committee Democrat Elizabeth Warren also demanded that Bessent and Fed Chair Powell not provide bailouts to crypto markets.
WLFI Technical Analysis and Price Status
WLFI is currently trading at $0.12 level (24h: -%0.17). RSI at 44.77 is neutral, overall trend is downward (Supertrend: Bearish, EMA20: $0.1175). Click for detailed WLFI analysis.
- Supports: S1 $0.1049 (Strong, -%9.72), S2 $0.0961 (Strong, -%17.30)
- Resistances: R1 $0.1163 (Strong, +%0.09), R2 $0.1434 (Strong, +%23.41)
Watch volatility on WLFI futures. Nearby resistance may be tested.
Source: https://en.coinotag.com/democrats-question-wlfi-bank-application
