A group of five Democratic senators has urged the Republican chair of a Senate committee to convene an immediate hearing into reports that the United Arab Emirates invested $500 million in a cryptocurrency company linked to the Trump family.
According to reports cited by Huo Xing Cai Jing, the investment relates to World Liberty Financial (WLFI), a cryptocurrency firm associated with former U.S. President Donald Trump. The lawmakers are seeking scrutiny over the timing and nature of the deal, as well as its potential implications for U.S. policy and foreign influence.
Reports indicate that an aide to a senior member of Abu Dhabi’s ruling family signed an agreement to acquire a 49% stake in WLFI just four days before Trump’s inauguration in January 2025. The transaction was reportedly valued at $500 million, with an initial payment of $218 million already directed to entities linked to Trump and Steve Witkoff, who later became the administration’s envoy for Middle East affairs.
The senators identified the investor as Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s National Security Advisor and a prominent figure in the country’s investment and technology sectors.
The request for a Senate hearing comes amid growing scrutiny of foreign investments connected to politically affiliated business ventures. Lawmakers have pointed to several decisions made by the Trump administration that benefited the UAE following his return to office in January 2025.
Among those measures were the approval of a $1.4 billion arms sale to the UAE in May 2025 and authorization later in the year for Abu Dhabi-based technology company G42 to acquire more than 100 million advanced U.S.-made artificial intelligence chips valued at over $1 billion.
The senators argue that a congressional review is necessary to determine whether any conflicts of interest or national security concerns may have arisen from the reported investment and subsequent policy decisions.
