Democratic Congresswoman Maxine Waters (D-CA) upheld World Liberty Financial, an upcoming crypto lending platform promoted by Donald Trump and his sons, as an example of heightened risks that consumers face when engaging in decentralized finance (DeFi) on Capitol Hill Tuesday.
Last week, Twitter (aka X) accounts belonging to Tiffany Trump (Donald's daughter) and Republican National Committee Chairwoman Lara Trump (Donald’s daughter-in-law) were hacked. Under the control of bad actors, their accounts touted a fake token linked to World Liberty Financial’s launch in an attempt to scam potential buyers.
“Because of the prominence of those behind the project, bad actors took advantage of the opportunity to scam potential users,” Waters said. “Lawmakers have a responsibility to consider strong protections to prevent such scams from moving forward.”
