Five Senate Democrats demand hearings on the $500M UAE investment in Trump's World Liberty Financial, citing $1.4B arms sales and Nvidia chip transfers to UAE after the deal.
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Five Senate Democrats are demanding congressional hearings into a $500 million investment in World Liberty Financial by a UAE royal four days before Trump's inauguration. The deal, reported by the Wall Street Journal in January, has drawn scrutiny because of what the senators call a pattern of U.S. policy decisions that followed and benefited the Gulf state.
Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Richard Durbin, and Ron Wyden sent a letter Tuesday requesting sworn testimony from administration officials. They addressed the chairs of five Senate committees. The investment gave Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser, a 49% stake in World Liberty Financial, the crypto venture co-founded by President Trump and his family. Tahnoon paid $218 million upfront to entities tied to the Trump family and Steve Witkoff, Trump's lead diplomat for the Middle East and Russia.
The senators pointed to two decisions after the deal closed. In May 2025, the administration approved $1.4 billion in arms sales to the UAE despite congressional concerns about weapons reaching armed groups in Sudan. The Department of Commerce authorized the transfer of 35,000 advanced Nvidia Blackwell chips – worth roughly $1 billion – to G42, a UAE artificial intelligence company also chaired by Tahnoon. U.S. intelligence officials had warned that China could access the chips through G42, the senators wrote.
The letter describes the arrangement as unprecedented in U.S. political history: a foreign government official taking a major ownership stake in an incoming president's business. The senators asked the committee chairs to explain what administration officials knew about payments to the president's family and Witkoff's family, and how they plan to restore public confidence that policy is being made in the national interest.
For traders, the political risk to Trump-linked crypto ventures now sits at the Senate committee level. The request for sworn testimony could force disclosure of the relationship between the Trump family and UAE entities. That could affect World Liberty Financial's token or its stablecoin project, which received a separate $2 billion investment from UAE-backed MGX in 2025 – a deal that boosted the stablecoin's market cap overnight, as Unchained has reported.
The immediate catalyst is the committee responses. If the chairs decline to hold hearings, the risk fades. If hearings proceed, testimony could reveal coordination, which would likely increase regulatory scrutiny on the Trump family's crypto activities and potentially on the broader sector.
The senators asked for a prompt response. No date has been set for a hearing.
Related reading: NVDA stock page
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