Two US senators are calling for a federal investigation into a reported $500 million foreign investment in a cryptocurrency venture linked to the Trump family. Senators Elizabeth Warren and Andy Kim expressed national security concerns about the deal, which involves a United Arab Emirates-backed fund acquiring a major stake in World Liberty Financial.
Two U.S. senators are pressing the Treasury Department to investigate a reported foreign investment in a cryptocurrency venture tied to the Trump family. In a Friday letter to Treasury Secretary Scott Bessent, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim raised concerns about national security and foreign influence.
The lawmakers detailed a transaction where a UAE-backed investment vehicle agreed to purchase a 49% stake in World Liberty Financial (WLFI) for roughly $500 million. They stated the deal occurred days before Donald Trump’s inauguration and would make the foreign fund the firm’s largest shareholder.
The investment was reportedly backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser. The agreement allegedly directed about $187 million to entities linked to the Trump family and granted board seats to executives connected to G42, a company previously scrutinized by U.S. intelligence agencies.
Warren and Kim argued the deal could allow a foreign government to gain influence over a U.S. company handling sensitive financial and personal data. They noted the firm’s privacy disclosures indicate it collects wallet addresses, IP addresses, device identifiers, and approximate location data.
They requested the Committee on Foreign Investment in the United States (CFIUS) determine if it should investigate the transaction. The lawmakers asked Bessent to confirm whether the committee was notified and, if necessary, conduct a comprehensive investigation.
Last year, Senators Warren and Jack Reed also called for an investigation into alleged links between World Liberty Financial’s token sales and sanctioned foreign actors. They cited claims that WLFI governance tokens were bought by blockchain addresses tied to North Korea’s Lazarus Group, as well as Russian- and Iranian-linked entities.
Earlier this month, U.S. President Donald Trump said he was unaware of the reported multimillion-dollar investment. “My sons are handling that — my family is handling it,” Trump told reporters, adding, “I guess they get investments from different people.”
