TNS Elizabeth Warren Calls for Investigation into DeFi Related to Trump's Crypto Interests

U.S. Senator Elizabeth Warren, the highest-ranking Democrat on the Senate Banking Committee, has called for a new national security investigation into DeFi platforms, particularly regarding their connections to the crypto business interests of President Donald Trump. This move comes as the U.S. Senate remains deadlocked in negotiations over the crypto market framework bill, which is expected to be delayed until January.

In a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, Ms. Warren requested an examination of PancakeSwap, a major decentralized exchange operating across multiple blockchains, accusing the platform of attempting to promote tokens related to World Liberty Financial Inc., a company believed to have ties to President Trump’s interests. She also questioned whether there is any inappropriate political influence from the Trump administration on law enforcement decisions.

Warren criticized DeFi platforms for handling hundreds of millions of dollars in transactions daily without requiring user identity verification. The regulation of DeFi is currently one of the biggest points of disagreement in the crypto market structure bill, which could determine whether the crypto industry supports the final legislation. Meanwhile, the White House continues to deny allegations of conflicts of interest related to President Trump’s crypto activities.