Senate Democrats seek probe into $500M UAE deal

• A group of Senate Democrats urged Republican leaders to investigate a reported US$500 million deal involving World Liberty Financial and Abu Dhabi investors.
• The lawmakers raised concerns about potential conflicts of interest between the Trump administration's policy decisions and the Trump family's crypto business interests.
• Democrats are seeking Senate hearings and testimony under oath from Trump administration officials.

A group of US Senate Democrats called on Senate Republican leaders to hold hearings into a reported US$500 million deal between World Liberty Financial (CRYPTO:WLFI) and an Abu Dhabi-backed investment company, citing concerns about potential conflicts of interest.

The request follows reports that an investment firm backed by Sheikh Tahnoon bin Zayed Al Nahyan acquired a 49% stake in World Liberty Financial in January 2025, before the Trump administration approved major arms and artificial intelligence chip agreements with the United Arab Emirates later that year.

“We 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 after investing in the Trump family crypto company,” said the Democratic senators.

The lawmakers argued that Congress should investigate whether the reported investment influenced subsequent actions taken by President Donald Trump or members of his administration, while also expressing concerns about changes to crypto enforcement policies.

The senators requested immediate hearings and testimony under oath from administration officials, while World Liberty Financial's USD1 stablecoin and related crypto assets were unchanged following the announcement.

Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin and Ron Wyden signed the letter, continuing a broader series of inquiries into World Liberty Financial's business activities and regulatory treatment.

The latest request follows earlier Democratic efforts to examine the UAE investment, the dismissal of a fraud case involving World Liberty Financial supporter Justin Sun, and a separate review of presidential pardons linked to crypto industry figures including Binance co-founder Changpeng Zhao.

At the time of reporting, World Liberty Financial price was $0.05879.