Elizabeth Warren and Andy Kim call on Treasury’s Scott Bessent to review a UAE-backed investment in the Trump-linked crypto firm over national security concerns. Two US senators are pressing the Treasury Department to investigate a reported foreign investment in a crypto venture tied to the Trump family, raising concerns about national security, foreign influence and access to sensitive financial data. In a Friday letter to Treasury Secretary Scott Bessent, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim asked the government to determine whether the Committee on Foreign Investment in the United States (CFIUS) should investigate a deal in which a UAE–backed investment vehicle agreed to purchase a 49% stake in World Liberty Financial (WLFI) for roughly $500 million. The lawmakers wrote that the transaction reportedly occurred days before Donald Trump’s inauguration and would make the foreign fund the firm’s largest shareholder and its only publicly known outside investor. They asked Besse...
Bitcoin developers must address the quantum risks to Bitcoin fast to avoid a successful “corporate takeover,” according to venture capitalist Nic Carter. Major Bitcoin-holding institutions may eventually lose patience with Bitcoin developers for not addressing quantum computing concerns quickly enough, according to venture capitalist Nic Carter. “I think the big institutions that now exist in Bitcoin, they will get fed up, and they will fire the devs and put in new devs,” Carter said during the Bits and Bips podcast episode published on Thursday. “I think the devs will continue to do nothing,” Carter said. Read more