Senate Dems urge probe into $500M crypto deal between Trumps, UAE
Senate Democrats are pressing Republican leaders to hold hearings on a reported $500 million deal linking the Trump family’s crypto firm, World Liberty Financial, to Abu Dhabi interests. In a letter, they asked for immediate hearings and testimony from Trump administration officials under oath. The Wall Street Journal reported that an Abu Dhabi investment company tied to UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan agreed in January 2025 to buy a 49% stake in the platform. Democrats say a major Trump administration arms and AI chip deal with the UAE followed in May 2025, despite national security concerns about China accessing the chips. They argue the sequence raises questions about whether the UAE gained favorable treatment after investing in the Trump family business. The senators also criticized moves to weaken crypto regulation and enforcement. Signers included Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin and Ron Wyden.
