Democrats Regain Control of the House; WLFI May Be First Target in Trump Family Crypto Probe

KuCoinFlash

Release Time: 2026/11/04 09:44:03

Summary

Democrats regain control of the House, with Robert Garcia set to investigate the Trump family’s crypto activities and business connections under scrutiny of MiCA (EU Markets in Crypto-Assets Regulation). Garcia cited over $1 billion in crypto revenue from Trump’s ventures, focusing on Donald Trump Jr.’s business moves and Kushner’s contracts. Democrats are also monitoring a $500 million stake in World Liberty Financial, tied to liquidity and crypto markets. Subpoenas and questioning of companies and donors could begin in February 2027.

Odaily Planet Daily reports that Robert Garcia will assume the chairmanship of the House Oversight Committee and stated that the committee will examine the Trump family’s cryptocurrency transactions, Donald Trump Jr.’s business dealings, and the board appointments or contract acquisitions of relatives such as Jared Kushner.

Garcia stated that Trump's cryptocurrency-related businesses have generated over $1 billion in revenue. Previously, Democrats focused on a UAE royal family member who invested approximately $500 million in World Liberty Financial last year; the company is applying for a national bank charter requiring approval from relevant U.S. Treasury departments. Democrats also plan to issue subpoenas and question related companies and donors starting in February next year.

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