- U.S. Senate Democrats are demanding hearings into a $500 million deal between the Trump family’s World Liberty Financial crypto platform and Abu Dhabi royalty.
- The senators allege a potential conflict of interest, questioning if the UAE investment influenced a subsequent major arms and AI chip deal made by the Trump administration.
- The letter highlights concerns over the administration’s moves to deregulate crypto, including exempting providers from rules and disbanding a key Justice Department enforcement team.
- This is part of broader Democratic probes into World Liberty Financial‘s dealings, including pardons for industry figures and dropped fraud cases.
U.S. Senate Democrats are urgently calling for hearings into a reported $500 million deal between President Donald Trump‘s crypto firm and Abu Dhabi royalty, according to a letter sent Tuesday. The group, led by Senators Elizabeth Warren and Richard Blumenthal, wants Republicans to compel Trump administration officials to testify under oath about the agreement.
The letter references a Wall Street Journal report that an Abu Dhabi investment company bought a 49% stake in World Liberty Financial in January 2025. Consequently, the senators are probing whether this foreign investment improperly influenced U.S. policy.
Months later, the Trump administration finalized a major arms and Artificial Intelligence chip deal with the UAE. The Democrats wrote they are “deeply concerned about this series of events, which raise questions about what more the UAE may receive — or may have already received — at the expense of US national security.”
However, President Trump has stated he was not aware of the World Liberty Financial deal. Meanwhile, critics from both parties have highlighted the perceived conflict of interest posed by the Trump family’s crypto interests during a push for sector deregulation.
The letter also criticizes the administration’s “steps to weaken enforcement” by exempting crypto service providers from regulations. Furthermore, it notes the Justice Department’s crypto enforcement team was disbanded.
This demand is the latest in a series of Democratic investigations. Earlier, Warren urged a Treasury review, while others pressed the SEC over a dropped fraud case against major backer Justin Sun.
In a related move, Democratic lawmakers launched a probe into Trump’s pardons, including that of Binance co-founder Changpeng Zhao. That pardon followed a $2 billion investment from an Abu Dhabi fund into Binance, which was agreed to be paid in World Liberty Financial‘s stablecoin.
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