Senate Democrats seek hearings to determine if a $500 million investment from UAE officials in World Liberty Financial influenced Trump's policy decisions.
By Omkar Godbole|Edited by Jamie Crawley Jun 24, 2026, 7:18 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on President Donald Trump (Jesse Hamilton/CoinDesk)SummaryShow- Senate Democrats are pressing for swift hearings regarding a $500 million investment from UAE officials in Donald Trump’s family crypto enterprise, World Liberty Financial, to explore if it influenced U.S. policy toward the UAE.
- The senators claim that the arrangement, which granted UAE investors a 49% ownership stake and involved $218 million in upfront payments to entities associated with Trump and a senior Middle East diplomat, represents a significant instance of foreign influence.
- Highlighting a series of favorable decisions made by the Trump administration towards the UAE, the lawmakers are demanding sworn testimonies to investigate potential conflicts of interest and foreign influence.
Senate Democrats have urged for immediate hearings to examine the substantial investments made by UAE officials in President Donald Trump's family-owned crypto venture, World Liberty Financial, as well as the subsequent decisions from the Trump administration that appeared to favor the Gulf nation, according to a letter sent on June 23.
Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Richard Durbin, and Ron Wyden have called on various Senate committees to investigate a deal wherein associates of an Abu Dhabi royal family purchased a 49% stake in World Liberty Financial for $500 million.
This transaction was finalized just four days before Trump's inauguration last year, with reports indicating that foreign investors made an upfront payment of $218 million to entities linked to Trump and Steve Witkoff, a key Middle East diplomat for Trump.
The agreement reportedly received support from Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's National Security Advisor, marking an unprecedented moment in U.S. politics, as it involved a foreign government official acquiring a major share in a company owned by an incoming president, as noted in the letter.
CoinDesk has reached out to both WLFI and the UAE government for comments regarding this situation.
This investment raises alarms about foreign influence, particularly following a major investment from MGX, a state-backed UAE investment firm, that significantly increased the market capitalization of Trump’s stablecoin by nearly $2 billion overnight.
Interestingly, shortly after the deal, the Trump administration made policy choices that appeared to benefit the UAE, as highlighted in the letter. In May 2025, a $1.4 billion arms sale to the UAE was approved despite congressional concerns about the implications of such arms reaching armed factions in Sudan, where over 150,000 lives have been lost.
In the same month, the Treasury established a "Known Investor Pilot" program, designed to expedite investment approvals through CFIUS, a process the UAE had advocated for.
The Department of Commerce also lifted restrictions on chip exports instituted during the Biden administration, allowing the UAE to import significantly more advanced chips than previously permitted. This included authorization for G42, a UAE AI firm chaired by Sheikh Tahnoon, to acquire 35,000 Nvidia Blackwell chips, valued at over a billion dollars.
However, U.S. intelligence has reportedly found that G42 supplied U.S. technology to enhance China's missile capabilities. Although G42 has allegedly pledged to divest from its Chinese interests, there are concerns that the firm has attempted to disguise its connections to Beijing by transferring its assets to a new investment entity.
The senators have demanded that officials from the Trump administration provide sworn explanations regarding their knowledge of payments to the President's family and his chief diplomat for the region.
"They must also clarify how they plan to restore public confidence that the Administration is acting in the best interests of the American populace rather than the personal interests of the President and his close associates. We therefore request that immediate hearings be conducted on these pressing issues," the letter stated.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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