Elizabeth Warren Calls for Hearings Over UAE Stake in Trump-Era Crypto Firm

Senator Elizabeth Warren is calling for congressional hearings following new reporting that alleges a major foreign investment tied to the United Arab Emirates intersected with U.S. national security decisions during the Trump administration. The controversy centers on World Liberty Financial, a crypto company formed during Donald Trump’s presidency, and a secretive deal involving one of the UAE’s most powerful figures.

According to a Wall Street Journal investigation, an entity backed by Sheikh Tahnoon bin Zayed Al Nahyan—UAE national security adviser and head of several influential intelligence and technology initiatives—quietly acquired a 49% stake in World Liberty Financial for approximately $500 million. The transaction reportedly occurred just days before Donald Trump’s inauguration, raising questions about timing, transparency, and potential conflicts of interest.

The report claims the deal directed roughly $187 million to Trump family-related entities and at least $31 million to businesses associated with Steve Witkoff, a longtime Trump ally who was later appointed as a Middle East envoy. The Journal also noted that the investment preceded U.S. approval of advanced artificial intelligence chip sales to the UAE, technology previously restricted under the Biden administration due to national security concerns linked to Tahnoon’s AI firm, G42.

In response, Warren, the ranking member of the Senate Banking Committee, described the situation as “corruption, plain and simple,” calling for testimony from senior administration officials. She argued that sensitive U.S. technology may have been leveraged to benefit private crypto interests tied to the former president. Warren and Rep. Elissa Slotkin have previously urged investigations into whether Trump, his family, or close associates profited from foreign crypto deals connected to U.S. tech access.

The White House has denied any wrongdoing. Spokeswoman Anna Kelly told the Journal that President Trump’s assets are held in a trust managed by his children and that there are “no conflicts of interest.” White House counsel David Warrington added that Trump had no involvement in business decisions affecting his constitutional duties, while emphasizing that Witkoff had divested from World Liberty Financial and complied with ethics rules.

The allegations continue to fuel debate over crypto regulation, foreign influence, and national security as lawmakers push for greater oversight.