According to FinanceFeeds, five Democratic senators sent letters to multiple Republican committee chairs, demanding an immediate hearing into the United Arab Emirates’ $500 million investment in Trump’s cryptocurrency venture, World Liberty Financial. The report states that an aide to Abu Dhabi’s royal family secretly signed an agreement four days before Trump’s January 2025 inauguration to acquire a 49% stake in WLFI for $500 million, with foreign buyers having already prepaid $218 million to entities linked to Trump and his Middle East diplomat, Steve Witkoff. The senators identified Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s National Security Advisor, as the primary investor, calling this the first instance in U.S. political history of a foreign government official taking a significant equity stake in a company owned by a president-elect. Since Trump’s inauguration, his administration has approved the sale of $1.4 billion in weapons and over $1 billion in advanced AI chips to the UAE. The senators expressed deep concern and demanded sworn testimony from relevant officials regarding their knowledge of these payments.
U.S. Senators Demand Hearing Over UAE’s $500 Million Investment in Trump’s Crypto Project
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Summary
U.S. senators have demanded a hearing following the revelation that the UAE invested $500 million in Trump’s crypto project, World Liberty Financial. According to TechFlow, an aide to Abu Dhabi’s royal family signed the deal four days before Trump’s January 2025 inauguration. The investment secured a 49% stake, with $218 million already paid to Trump-linked entities. Senators identified UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan as the primary investor. This marks the first time a foreign official has taken a major stake in a U.S. president-elect’s company. The senators also noted Trump’s prior approval of $14 billion in arms sales and over $10 billion in AI chip exports to the UAE.
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