Elizabeth Warren Calls Trump Crypto Deal with UAE “Corruption Plain and Simple”

TLDR

• A UAE intelligence official bought a 49% stake in Trump-linked crypto company World Liberty Financial for $500 million days before Trump’s inauguration
• The deal sent $187 million to Trump family entities and $31 million to entities tied to Trump’s Middle East envoy Steve Witkoff
• The transaction happened months before the Trump administration approved advanced AI chip sales to the UAE
• Senator Elizabeth Warren called the deal “corruption” and demanded congressional hearings on national security concerns
• The White House denied any conflicts of interest and said Trump has no involvement in business deals

An entity backed by the United Arab Emirates’ top intelligence official purchased a 49% stake in World Liberty Financial for $500 million. The deal happened just days before Donald Trump took office as president.

Sheikh Tahnoon bin Zayed Al Nahyan is the UAE’s national security adviser. He is known as the “Spy Sheikh” and is a major power broker in the region.

The Wall Street Journal reported the details of the secret transaction. Eric Trump signed the agreement on behalf of World Liberty Financial.

The deal sent $187 million directly to Trump family entities. At least $31 million went to entities connected to Steve Witkoff.

Witkoff is a Trump ally who was recently appointed as Middle East envoy. The White House later stated that Witkoff has divested from World Liberty Financial.

Timing of Deal Raises Questions

The crypto investment came months before a major policy decision. The Trump administration approved the sale of advanced U.S. AI chips to the UAE.

The Biden administration had previously restricted these chip sales. The restrictions were based on national security concerns related to Sheikh Tahnoon’s AI company G42.

Senator Elizabeth Warren serves as ranking member of the Senate Banking Committee. She issued a statement calling the arrangement “corruption, plain and simple.”

Warren demanded that the Trump administration reverse its decision to sell AI chips to the UAE. She also called for congressional testimony from multiple officials.

The senator wants Steve Witkoff, David Sacks, and Commerce Secretary Howard Lutnick to testify. She asked Congress to investigate whether officials profited from the deal.

Warren and Representative Elissa Slotkin previously called for an investigation. They wanted to know if Trump, his family, and senior officials were profiting from foreign crypto deals.

White House Denies Wrongdoing

Kelly said Trump’s assets are held in a trust managed by his children. She stated there are “no conflicts of interest” in the arrangement.

She added that Witkoff is working to “advance President Trump’s goals of peace around the world.” White House counsel David Warrington also addressed the controversy.

This is not the first time World Liberty Financial has faced scrutiny. Warren previously raised concerns about the company’s application for a trust charter bank.

The Trump family’s involvement in crypto ventures continues to draw attention from lawmakers. World Liberty Financial remains under congressional review as questions about the UAE deal persist.

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