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Gerald Connolly, the senior Democratic member of the U.S. House of Representatives Oversight Committee, has called for the cessation of President Donald Trump’s proposed strategic Bitcoin 
$81,187 reserve initiative. In a letter to the U.S. Treasury Department, Connolly expressed concerns about serious conflicts of interest arising from Trump’s plan. He believes that attempting to implement a Bitcoin reserve without congressional approval could harm American taxpayers and has urged an immediate halt to the initiative, demanding Congress be informed on the matter.
Claims of Conflict of Interest in Trump’s Crypto Projects
Connolly pointed out that the cryptocurrency projects backed by President Trump are leading to conflicts of interest. One such project, World Liberty Financial, which Trump directly endorsed, was launched last year but has since seen its value plummet from approximately $380 million to just $76 million. Furthermore, the sale of the project…
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