Elizabeth Warren Demands Hearings on Trump Crypto Deal With UAE Intelligence Chief

TLDR

• Sheikh Tahnoon secretly bought 49% of Trump crypto firm for $500M.
• Eric Trump signed the deal before Trump’s 2017 inauguration.
• $187M went to Trump family entities and $31M to Trump allies.
• Deal came before approval of AI chip sales to UAE later that year.

Senator Elizabeth Warren is calling for congressional hearings after a Wall Street Journal report revealed that the UAE’s top intelligence official, Sheikh Tahnoon bin Zayed Al Nahyan, secretly acquired a 49% stake in World Liberty Financial, a crypto firm linked to the Trump family.

The $500 million deal, signed by Eric Trump, reportedly transferred millions to Trump-related entities just before the Trump administration approved advanced U.S. AI chip sales to the UAE. Warren warned the deal raises corruption and national security concerns.

Secret UAE Stake in Crypto Company Raises Questions

Senator Elizabeth Warren is urging Congress to launch hearings after new findings about a major foreign investment in a Trump-connected firm. A Wall Street Journal investigation reported that Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser, quietly acquired a 49% stake in World Liberty Financial for $500 million.

The deal was reportedly signed by Eric Trump, days before Donald Trump’s 2017 inauguration. The transaction sent $187 million to Trump family-related entities and at least $31 million to firms connected to Trump’s Middle East envoy, Steve Witkoff. This financial movement occurred months before the Trump administration approved the sale of advanced AI chips to the UAE, despite known security concerns.

Warren Alleges Corruption and National Security Risk

Warren, a senior member of the Senate Banking Committee, stated that the deal raises corruption concerns. She said, “This is corruption, plain and simple. Congress needs to grow a spine and put a stop to Trump’s crypto corruption.”

She also called for testimony from several former Trump officials, including Steve Witkoff, investor David Sacks, and former Commerce Secretary Howard Lutnick. The senator questioned whether U.S. officials compromised national security for financial gain linked to the president’s crypto interests.

Warren and Representative Elissa Slotkin previously urged an investigation into whether Trump or his close associates profited from crypto-related foreign deals tied to sensitive U.S. technology access.

White House Responds to Allegations of Conflict

White House spokeswoman Anna Kelly told the Wall Street Journal that President Trump has no involvement in these deals. She said his assets are held in a trust and managed by his children. “There are no conflicts of interest,” Kelly said.

David Warrington, legal counsel for Trump, also stated that the president did not take part in any official business that could affect his private interests. “The President has no involvement in business deals that would implicate his constitutional responsibilities,” Warrington said.

He also noted that Steve Witkoff had divested from World Liberty Financial and that he complies with ethics regulations.

AI Chip Sales Approved Months After Deal

The $500 million crypto deal was followed months later by U.S. approval of advanced AI chip sales to the UAE. The Biden administration later restricted such exports due to national security concerns about G42, the AI firm linked to Sheikh Tahnoon.

The timeline raised questions from Warren and other lawmakers about whether business interests influenced policy decisions involving sensitive technology.

Warren said, “Steve Witkoff, David Sacks, Howard Lutnick, and others must testify in front of Congress.” She stressed the need for transparency and accountability when it comes to foreign investments that intersect with national policy.

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