US Senate Democrats Seek Probe of $500 Million Crypto Agreement Between Trumps and UAE

Hearings on the relationships between the Trump administration, World Liberty Financial, and members of Abu Dhabi’s royal family are being sought by Democratic lawmakers in the Senate.

A group of Democratic senators in the United States is calling on Republican leaders in the Senate to hold hearings regarding a reported $500 million agreement involving the Trump family’s cryptocurrency company and members of Abu Dhabi’s royal family.

In a letter sent on Tuesday, Democratic lawmakers told Senate Republicans, who hold control of the chamber, oversee its committees, and determine whether hearings are scheduled, that hearings should be “immediately” convened on the deal and that testimony from Trump administration officials should be given under oath.

The Wall Street Journal reported in January that a deal had been signed in January 2025 by an Abu Dhabi investment firm supported by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, to acquire a 49% stake in World Liberty Financial, the crypto platform associated with US President Donald Trump.

Democrats Raise National Security Concerns Over Trump-Linked UAE Crypto Investment

Several months later, in May 2025, a major agreement involving arms sales and artificial intelligence chips was reached between the Trump administration and the UAE. Democratic senators argued that the deal was pursued “despite concerns raised by US national security officials that China could access the chips.” Trump, meanwhile, has stated that he had no knowledge of the World Liberty transaction.

The letter represents the latest effort by Democrats to scrutinize the activities of World Liberty Financial and examine whether links exist between the firm and decisions made by the president. The perceived conflict of interest created by the Trump family’s extensive crypto ventures has been criticized by both supporters and opponents of Trump, particularly as efforts to ease regulations on the digital asset sector continue to be pursued.

“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,” the Democrats wrote.

“Congress has a responsibility to investigate the details of the reported investment and whether it influenced subsequent actions by President Trump and the Trump Administration,” they added.

The senators said they are also worried about what they described as the Trump administration’s efforts to weaken enforcement, including the exemption of crypto service providers from certain financial regulations and the dismantling of the Justice Department’s cryptocurrency enforcement unit.

The letter was signed by Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin and Ron Wyden.

An investigation into the UAE deal had previously been called for by Senator Elizabeth Warren, who in February urged Treasury Secretary Scott Bessent to determine whether the transaction should undergo review by the Committee on Foreign Investment in the United States.

Earlier this year, pressure was applied by Democratic lawmakers on Securities and Exchange Commission Chair Paul Atkins over the decision to dismiss a fraud case involving Justin Sun, a prominent supporter of World Liberty Financial.

In May, an investigation into President Trump’s pardons, including the one granted to Binance co-founder Changpeng Zhao, was launched by Democratic Senator Peter Welch and Representative Dave Min.

The pardon was granted after a $2 billion investment from an Abu Dhabi fund had been accepted by Binance in early 2025, with the company also agreeing that the funds would be settled using World Liberty Financial’s stablecoin, USD1.