,,iii #aaith ,,congress #ast ,session ,s4 ,,res4 #bdc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #ba1 #bjbe ,mr4 ,blumenthal submitted the following resolution2 which was referred to the ,committee on ,homeland ,security and ,governmental ,affairs ,,resolution ,condemning the financial entanglements of ,world ,liberty ,financial1 ,inc4 with ,president ,donald ,j4 ,trump1 the ,trump family1 and the ,trump ,administration4 ,whereas ,world ,liberty ,financial1 ,inc4 7referred to in this preamble as ,,wlfi71 which is owned in part by ,president ,donald ,j4 ,trump and members of the ,trump family1 launched in ,september #bjbd with the promise of driving the mass adoption of stablecoins and decentralized finance2 ,whereas the ,trump family took greater control over ,,wlfi during the period immediately preceding the inauguration of the ,president1 asserting a claim of more than #ge percent of net revenues from token sales and #fj percent from the operations of the firm2 ,whereas ,,wlfi started attracting new attention from investors after the #bjbd election1 raising #eej1jjj1jjj from the governance token issued by ,,wlfi1 with half of those investors spending more than #a1jjj1jjj each2 ,whereas the financial ties of ,president ,trump to ,,wlfi allow and invite anyone in the world1 including foreign governments and unscrupulous individuals1 to directly enrich the ,president and the ,trump family1 while hiding potential payoffs in the pseudonymity of the blockchain2 ,whereas ,justin ,sun1 who was facing a civil fraud case beginning in #bjbc from the ,securities and ,exchange ,commission over allegations of market manipulation and unregistered asset sales1 has invested #ge1jjj1jjj in ,,wlfi and announced that his blockchain project1 ,,tron1 would be a partner on the ,,wlfi stablecoin named ,,usd#a2 ,whereas the ,securities and ,exchange ,commission under ,president ,trump has paused the litigation against ,justin ,sun1 and ,justin ,sun is now seeking to favorably settle2 ,whereas reporting indicates that the blockchain project ,,tron of ,justin ,sun has become a preferred payment platform for ,hamas and ,hezbollah to evade ,united ,states sanctions2 ,whereas ,,wlfi has reportedly used the ,trump name to solicit substantial investments from cryptocurrency startups1 asking for between #aj1jjj1jjj and #cj1jjj1jjj in investment in the governance token issued by ,,wlfi1 while ,,wlfi would buy a smaller amount of the digital coins of the startup in return and pocket the difference for ,,wlfi2 ,whereas ,,dwf ,labs1 a ,dubai-based cryptocurrency firm suspected of engaging in market manipulation1 has invested #be1jjj1jjj in the governance token issued by ,,wlfi1 making it one of the largest holders of the governance token2 ,whereas1 on ,may #a1 #bjbe1 ,,mgx ,fund ,management ,limited1 an investment firm established and backed by the government of the ,united ,arab ,emirates1 announced an agreement to use the ,,wlfi stablecoin to complete a #b1jjj1jjj1jjj deal with ,binance ,holdings1 ,ltd42 ,whereas1 as a result of the deal between ,,mgx ,fund ,management ,limited and ,binance ,holdings1 ,ltd41 ,president ,trump and the ,trump family could stand to receive hundreds of millions of dollars from a foreign state2 ,whereas representatives of the ,trump family have reportedly held talks with ,binance ,holdings1 ,ltd4 about investing in the ,united ,states arm of ,binance ,holdings1 ,ltd42 ,whereas ,binance ,holdings1 ,ltd4 pleaded guilty to violating anti-money-laundering laws in #bjbc1 and the founder of ,binance ,holdings1 ,ltd41 ,changpeng ,zhao1 has served #d months in prison after pleading guilty to related charges2 ,whereas the ,securities and ,exchange ,commission under ,president ,trump has paused a civil lawsuit against ,binance ,holdings1 ,ltd42 ,whereas ,binance ,holdings1 ,ltd4 executives have reportedly met with officials of the ,department of the ,treasury to discuss loosening ,united ,states ,government oversight on the company2 ,whereas ,binance ,holdings1 ,ltd4 founder ,changpeng ,zhao is reportedly seeking a formal pardon from the ,trump ,administration2 ,whereas ,president ,trump has used the ,federal ,government to enrich cryptocurrency firms through the creation of a ,strategic ,bitcoin ,reserve and ,united ,states ,digital ,asset ,stockpile and used the ,white ,house to promote cryptocurrencies2 ,whereas ,,wlfi business partners and other cryptocurrency interests donated millions of dollars to the inauguration fund of ,president ,trump2 ,whereas the financial entanglements of ,,wlfi with the ,president1 the ,trump family1 and the ,trump ,administration present unprecedented conflicts of interest1 national security risks1 and constitutional violations2 ,whereas the acceptance of a substantial payment from a foreign government could unduly influence the foreign policies of the ,united ,states2 ,whereas the ,foreign ,emoluments ,clause contained in clause #h of section #i of article ,i of the ,constitution of the ,united ,states provides that no present1 emolument1 office1 or title1 of any kind1 may be accepted by the ,president of the ,united ,states from a king1 prince1 or foreign state without the consent of ,congress2 ,whereas the ,founders included the ,foreign ,emoluments ,clause in the ,constitution of the ,united ,states1 by unanimous agreement of the ,state delegations1 to ensure the ,president would remain loyal to the ,nation and the public interest2 ,whereas the ,foreign ,emoluments ,clause of the ,constitution of the ,united ,states has long been understood to be directed against every kind of influence by foreign governments upon officers of the ,united ,states1 in the absence of consent by ,congress2 ,whereas the ,president of the ,united ,states has a constitutional and statutory obligation to uphold the public trust2 and ,whereas the violation of the ,foreign ,emoluments ,clause of the ,constitution of the ,united ,states undermines public trust and the integrity of public office in the ,united ,states3 ,now1 therefore1 be it ,that the ,senate-- 7#a7 condemns the financial entanglements of ,world ,liberty ,financial1 ,inc4 with ,president ,donald ,j4 ,trump1 the ,trump family1 and the ,trump ,administration for-- 7,a7 potentially enabling the violation of ,government ethics requirements2 7,b7 facilitating investments from foreign governments and financial transactions with foreign nationals under ,federal prosecution2 and 7,c7 posing unacceptable conflicts of interest2 7#b7 affirms that the agreement between ,,mgx ,fund ,management ,limited and ,world ,liberty ,financial1 ,inc4 is a violation of the ,foreign ,emoluments ,clause of the ,constitution of the ,united ,states because ,president ,donald ,j4 ,trump did not seek the consent of ,congress for such agreement2 and 7#c7 demands the transfer of any proceeds from any such agreement nevertheless received by ,president ,donald ,j4 ,trump in violation of the ,foreign ,emoluments ,clause contained in clause #h of section #i of article ,i of the ,constitution of the ,united ,states to the ,united ,states ,government4