Two Democratic lawmakers, Senator Elizabeth Warren and Representative Maxine Waters, have urged acting SEC Chair Mark Uyeda to preserve information related to World Liberty Financial (WLFI), a crypto firm backed by the Trump family. In their April 2 letter, they expressed concerns that the Trump family's financial interests in WLFI might create conflicts of interest that could improperly influence SEC oversight of the cryptocurrency industry. They called for transparency regarding Trump's crypto initiatives, which they believe could lead to regulatory decisions favoring his family's financial interests. The letter came shortly after WLFI announced its cryptocurrency activities and in light of Trump's recent engagement with several crypto projects. Warren and Waters emphasized the need for accountability to ensure that American financial markets are regulated impartially. They also highlighted the potential danger of Trump profiting from government actions due to his familial ties to WLFI, which aligns with his broader cryptocurrency initiatives. As Trump's appointee to the SEC, Uyeda has overseen investigations into crypto firms linked to campaign contributions made to the president, adding to concerns over regulatory integrity amidst these conflicts of interest.

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