A new cryptocurrency venture by Donald Trump and special envoy Steve Witkoff has partnered with Tron, a platform criticised for ties to Iran-supported militant groups.
World Liberty Financial, co-founded by Witkoff, raises ethical concerns among experts due to this partnership.
Tron is noted for its speed and low fees and has been linked to crypto transfers involving designated terrorist organizations, according to financial crime experts.
The platform’s founder, Justin Sun, is set to advise the Trump-Witkoff venture after Tron’s $30 million investment in World Liberty.
Israeli authorities have frequently associated Tron with militant funding, highlighting the freeze of numerous Tron wallets tied to terrorist activities.
Crypto advocate
Concerns about potential conflicts of interest and ethics surround Trump’s financial ties to World Liberty, where he is listed as a “chief crypto advocate” and is entitled to a share of revenues.
Experts worry that Witkoff’s financial stake may influence U.S. policy, despite plans for a blind trust.
Witkoff’s appointment as envoy comes as the region faces rising tensions, raising further scrutiny of his dual roles in business and government.
The role of special envoy does not needed Senate confirmation, potentially allowing Witkoff to accept outside income while serving, which complicates oversight.
Experts say that strict boundaries should exist between his diplomatic responsibilities and personal financial interests.
