Trump family-linked crypto and investment firms prepare in advance to guard against investigations after Democratic midterm election victories

October 26 - According to Bloomberg, as the U.S. midterm elections approach and the likelihood of Democrats retaking at least one chamber of Congress increases, cryptocurrency, venture capital, and prediction market companies associated with Trump and his family are strengthening their legal and lobbying teams to prepare for potential congressional investigations.

Relevant companies include World Liberty Financial, a crypto project co-founded by the Trump family, prediction market platforms Polymarket and Kalshi, Zhao Changpeng, and venture capital firm 1789 Capital. Some companies have hired prominent lawyers and lobbyists, some of whom have ties to Democratic lawmakers.

Democrats have previously requested information from World Liberty Financial and 1789 Capital and asked the Department of Justice to explain how Binance co-founder Zhao Changpeng received a Trump pardon. Democratic lawmakers said that if they gain a congressional majority, they will use investigative and subpoena powers to examine whether there is a conflict of interest between the Trump family's business interests and government policy, including whether companies received government contracts or other special treatment.

The report noted that the relevant investigations still face obstacles, including some evidence and documents being located overseas and uncertainty about whether federal agencies such as the Department of Justice will take further action. The companies involved insist that their business activities comply with legal requirements.