Congressional Democrats are calling for a detailed investigation into former President Donald Trump’s involvement in cryptocurrency ventures. The push stems from concerns over potential conflicts of interest and ethical issues tied to Trump’s business dealings during and after his presidency.

A letter from Representative Gerald E. Connolly, the Ranking Member of the House Committee on Oversight and Reform, highlighted Trump’s ventures, including World Liberty Financial (WLF), a platform aimed at facilitating cryptocurrency borrowing, lending, and investing. Connolly emphasized that WLF’s operations, particularly its reliance on token sales and investments from foreign entities, warrant scrutiny due to potential ethical violations.

The letter pointed out a $30 million investment in WLF by a foreign entrepreneur under investigation for securities fraud. This investment reportedly revitalized WLF after a period of lackluster performance, raising questions about its underlying purpose and whether it served as a channel for unethical financial practices.

Another concern highlighted in the letter is the sale of the $Trump token, a cryptocurrency bearing Trump’s likeness. The token, launched by an affiliate of the Trump Organization, is described in disclosures as having no investment value, raising further alarms about its role in facilitating financial transfers to the former president and his family.

“Such ventures appear singularly designed to allow individuals to funnel money directly to President Trump,” Connolly wrote, underscoring the need for bipartisan oversight into the matter.

The call for an investigation also extends to other members of Trump’s circle, including his son-in-law Jared Kushner. Kushner’s private equity firm has reportedly received billions in investments from Gulf nations, raising concerns over potential influence on U.S. foreign policy.

The Democrats’ push for an investigation aligns with their broader efforts to enforce the Presidential Ethics Reform Act, which emphasizes transparency, financial disclosure, and limits on self-dealing.

Republicans have yet to respond formally to the request.