World Liberty Financial (CRYPTO: WLFI) has drawn new ire from Democratic lawmakers as the token plunged over 15% after a controversial governance vote.
The Southeast Asian Syndicate Connection
The Wall Street Journal recently linked WLFI to a Southeast Asian criminal syndicate. Last year, WLFI partnered with crypto firm AB, which was overseeing a blockchain-themed resort in East Timor led by two sanctioned men.
The resort’s controlling shareholder Yang Jian and General Manager Yang Yanming were sanctioned by the U.S. last October as part of a crackdown on the billion-dollar overseas crypto scam industry and the Prince Group conglomerate.
WLFI told The Wall Street Journal that it never held a relationship with the pair nor knew about the resort.
Additionally, the company downplayed the partnership to a “limited non-exclusive technology integration” and claimed its due diligence was proportional to its arrangement.
Warren Calls For Legislation
Senator Elizabeth Warren (D-Mass.) responded that Congress needs to ensure digital asset legislation protects …
