Senate Democrats target Trump’s World Liberty over $500M UAE deal
Democratic senators have called on Senate Republicans to open hearings into a reported $500 million investment in World Liberty Financial by an Abu Dhabi-backed entity and examine whether the transaction influenced decisions made by the Trump administration.
- Senate Democrats have urged Republican leaders to hold hearings into a reported $500 million UAE linked investment in World Liberty Financial and require Trump administration officials to testify.
- Lawmakers questioned whether the investment influenced later U.S. policy decisions involving arms sales and AI chip access for the United Arab Emirates.
- The latest request adds to months of scrutiny over World Liberty Financial, including probes into foreign ownership, regulatory filings, and the company’s federal bank charter application.
A letter sent Tuesday by Democratic senators urged Republican leaders, who control Senate committees and hearing schedules, to immediately convene hearings and require Trump administration officials to testify under oath about the investment and its aftermath.
The lawmakers cited reporting by The Wall Street Journal that Aryam Investment 1, an Abu Dhabi-based company backed by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, acquired a 49% stake in World Liberty Financial through an agreement signed in January 2025.
The senators wrote that they were concerned by events that followed the investment, including a May 2025 agreement under which the Trump administration approved major arms sales and access to advanced artificial intelligence chips for the UAE.
The letter noted that some U.S. national security officials had previously expressed concerns that China could gain access to the technology.
“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 U.S. national security after investing in the Trump family crypto company,” the lawmakers wrote.
They added that Congress has a responsibility to determine whether the investment affected decisions taken by President Donald Trump or his administration.
Long-running scrutiny of World Liberty Financial
The latest request builds on months of congressional scrutiny surrounding World Liberty Financial, a crypto venture launched with support from Trump and members of his family before the 2024 election.
In February, Senators Elizabeth Warren and Andy Kim asked Treasury Secretary Scott Bessent to determine whether the reported UAE investment should undergo review by the Committee on Foreign Investment in the United States. Their letter questioned whether federal authorities had been notified of the transaction and whether the deal received a formal national security assessment.
Warren later challenged Comptroller of the Currency Jonathan Gould during a Senate Banking Committee hearing over a reported application by World Liberty for a federal bank charter. She asked whether the company had disclosed the foreign investor’s stake in filings submitted to regulators. Gould declined to discuss the contents of any pending application and said the Office of the Comptroller of the Currency would follow established procedures.
The dispute continued in June after NOTUS reported that World Liberty’s application for a federal trust bank charter was expected to receive approval. Former OCC officials told the outlet that approval appeared likely. If granted, the charter would allow the company to issue and redeem its USD1 stablecoin, manage reserves, provide digital asset custody, and operate under a single federal regulator.
Public disclosures in later reporting showed that 75% of proceeds from WLFI token sales are directed to DT Marks DEFI LLC, an entity controlled by Trump. Reuters also reported in June that the Trump family had earned more than $2.3 billion from four crypto ventures since the start of Trump’s second term, with World Liberty generating the largest share.
Additional concerns over crypto oversight
The senators’ latest letter also criticized actions taken by the administration toward crypto enforcement and regulation.
The lawmakers said they were concerned by efforts to exempt certain crypto service providers from financial regulations and by the Justice Department’s decision to dismantle its cryptocurrency enforcement team.
Congressional Democrats have also questioned other World Liberty-related developments this year. Earlier in 2026, lawmakers pressed Securities and Exchange Commission Chair Paul Atkins about the agency’s decision to drop a fraud case against Justin Sun, a major backer of World Liberty Financial.
In May, Senator Peter Welch and Representative Dave Min opened an inquiry into several presidential pardons, including one granted to Binance co-founder Changpeng Zhao. The inquiry followed a $2 billion investment in Binance from an Abu Dhabi fund and an agreement to receive the funds through World Liberty’s USD1 stablecoin.
Trump has repeatedly denied involvement in World Liberty’s day-to-day operations. Speaking to reporters in February, he said he was unaware of the reported UAE investment and stated that his sons manage the business. The White House has also rejected allegations of conflicts of interest, stating that Trump’s assets are held in a trust administered by his children and that administration decisions are made independently of family business activities.
The letter was signed by Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden.
