PANews reported on January 23 that according to Cointelegraph, U.S. Democratic Congressman Gerald Connolly of Virginia called on the U.S. House of Representatives Oversight and Government Reform Committee to investigate whether President Trump's cryptocurrency business conflicts with his presidential duties. In a letter to the committee's Republican chairman James Comer on January 21, Connolly said that Trump may have profited from his World Liberty Financial (WLFI) platform and Meme coin TRUMP, which may violate ethical standards and bring national security risks; Trump's WLF platform is "particularly disturbing" because its largest investor, Tron founder Justin Sun, is a foreign entrepreneur, and the U.S. Securities and Exchange Commission (SEC) has accused him of securities fraud. He added that such financial "entanglements" have raised "serious national security concerns" that foreign forces may influence U.S. policies.

“If such conduct is allowed to continue unchecked, it will signal to the American people that the oversight committee is unwilling or unable to enforce the standards it purports to uphold,” Connolly wrote. He also said that without the committee’s intervention, Trump was unlikely to comply with “any provision” of the Presidential Ethics Reform Act, which requires, among other things, financial disclosures and conflict-of-interest checks.