Trump’s WLFI Slides 8% as Senators Tell Bessent To Review World Liberty’s UAE Stake

The WLFI token has fallen by about 8% as investors price in recent developments of its parent firm. U.S Senators have asked the U.S House Secretary Scott Bessent to look into the UAE stake in World Liberty.

WLFI Price Declines as Senators Seek World Liberty Probe

The Trump-linked firm’s altcoin has fallen by 8% in the past 24 hours amid new developments regarding the $500 million investment of the UAE in the company.

Two Democratic members of the U.S. Senate Banking Committee wrote a letter to Scott Bessent to investigate the possible national security implications of a reported investment in World Liberty.

Bessent, who leads the Committee on Foreign Investment in the United States, was asked by Senators Elizabeth Warren and Andy Kim to examine whether a CFIUS review is required for the 49% UAE interest in the company. They said, if so, they should conduct a full and objective investigation.

Warren had previously expressed concerns about the company. The crypto firm was incorporated two months before Trump’s victory in the U.S. presidential election in November 2024.

They pointed out that CFIUS had a clear mandate to review transactions that could provide access to sensitive data. They pointed out that World Liberty Financial collects personal information from users and asked whether the UAE or China could gain access to this information.

The senators also pointed out that U.S. intelligence is concerned that G42 may have provided technology to help China’s military. G42 has been under bipartisan review for its ties to Chinese companies such as Huawei.

Political Pressure Continues as Expansion Grows

The new review request adds to the growing list of questions being asked of the firm. Last week, Bessent was questioned about the firm during a House Financial Services Committee hearing. In the meeting, they asked him to hold off on a pending bank charter application related to the firm.

The WLFI firm had applied in January for a national trust bank charter from the OCC. This came after the OCC had said it would continue to process the World Liberty Bank application.

Meanwhile, the firm has continued growing despite the consistent backlash. They announced last Thursday plans to enter the forex market with a new platform named “World Swap.”

Co-founder of the firm, Zak Folkmann, shared that fu,rther details on this would be shared at its Mar-a-Lago event later this week. This came as the USD1 continued to grow in adoption as it recently crossed $5 billion in market cap.