Short Description: US Senators launch a probe into a major UAE investment in a Trump-linked crypto venture, citing national security and data privacy concerns.
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Two influential US senators are demanding a thorough investigation into a significant foreign investment connected to a cryptocurrency venture associated with the Trump family. In a formal letter to the Treasury Department, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim have urged the Committee on Foreign Investment in the United States (CFIUS) to scrutinize a massive deal reportedly backed by a United Arab Emirates (UAE) sovereign fund. The transaction, valued at roughly $500 million for a 49% stake in World Liberty Financial (WLFI), allegedly occurred just days before Donald Trump’s 2017 inauguration, raising potent questions about foreign influence and national security risks.
The core of the senators’ national security concerns centers on sensitive personal data. They argue the deal structure could grant a foreign government—via UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan—significant influence over a US company handling Americans’ sensitive financial information. WLFI’s privacy policy reportedly collects wallet addresses, IP addresses, and identity records, data CFIUS is specifically tasked with protecting from foreign access. The lawmakers also highlighted that the agreement allegedly directed $187 million to Trump-linked entities and granted board seats to executives from G42, an AI firm previously scrutinized for its ties to China.
This is not the first time Trump family crypto ventures have faced regulatory scrutiny. Last year, Senators Warren and Jack Reed called for an investigation into WLFI’s token sales, citing claims that its governance tokens were purchased by blockchain addresses linked to known sanctioned entities, including North Korea’s Lazarus Group. In response to the latest inquiry, former President Trump stated he was unaware of the specific deal and said his “sons are handling that.” The Treasury Department’s CFIUS has been requested to confirm whether it was notified of the transaction and to conduct a comprehensive review by March 5.
Short Summary: Senators Warren and Kim are pressing for a CFIUS investigation into a $500 million UAE investment in Trump-linked World Liberty Financial. They cite critical national security risks, including potential foreign access to Americans’ sensitive financial data and the involvement of entities with troubling foreign ties. The probe adds to ongoing regulatory scrutiny of the Trump family’s cryptocurrency ventures and their complex intersection with foreign investment.
