Rep. Meeks Confronts Treasury Secretary Bessent Over World Liberty Financial Crypto Scheme
During a hearing before the House Financial Services Committee, Rep. Gregory Meeks confronted Treasury Secretary Scott Bessent about the World Liberty Financial crypto scheme. Meeks highlighted the significant losses suffered by investors in the scheme and raised concerns about potential conflicts of interest involving foreign investors and the president's family. He pressed Bessent to commit to pausing and intensifying scrutiny of any bank charter or licensing application related to World Liberty Financial until reviews of conflicts of interest and foreign influence were completed and shared with Congress. Bessent declined to make that commitment, leading to a heated exchange between the two.
Meeks expressed frustration with Bessent's response, accusing him of failing to fulfill his responsibilities as Secretary of the Treasury and of being a "flunky" for the president. Despite the chair's attempts to maintain order, Meeks continued to demand a clear answer from Bessent and criticized him for allegedly covering up for the president and not working in the best interests of the American people. The exchange underscored the tensions surrounding the World Liberty Financial crypto scheme and the need for transparency and accountability in financial matters.