- Democratic lawmakers request ethics probe into Trump-linked World Liberty Financial’s $2 billion UAE investment and AI chip export deals.
- Senators question whether U.S. officials improperly advanced private crypto interests, citing possible conflicts involving the Trump family and close advisers.
On September 23, Democratic Senators Elizabeth Warren and Elissa Slotkin urged the inspectors general of the Commerce and State Departments to investigate possible ethics violations tied to World Liberty Financial, a crypto company linked to the Trump family. Their request centers on a $2 billion investment from a state-backed Emirati firm and raises questions about whether U.S. officials used their positions for private benefit.
The letter outlines concerns over two deals announced in May. One involved U.S. approval for the United Arab Emirates to import American-designed artificial intelligence chips. The other involved the UAE’s $2 billion commitment to World Liberty Financial, which was co-founded by members of the Trump family and relatives of adviser Steve Witkoff. Witkoff briefly served at the State Department before moving into a White House role, where he reportedly advocated for the chip exports.
According to the senators, the transactions intersect in ways that could compromise U.S. national security, given the UAE’s ties to China. Although no direct quid pro quo has been proven, they argue the timing and structure of the deals warrant deeper scrutiny. The letter also highlights the role of David Sacks, the administration’s so-called “AI and crypto czar,” who joined chip discussions despite colleagues’ warnings about potential conflicts.
The investigation request builds on a prior inquiry from September 17, when Warren and other Democrats pressed Sacks about the limits of his temporary appointment. It also follows earlier action in April, when Warren and Representative Maxine Waters sought Securities and Exchange Commission records on World Liberty Financial.
World Liberty Financial, controlled 75% by the Trump family in its token sales and 60% of operations, has already generated $57 million in profits despite a partial divestment. Congressional Democrats argue such ventures blur the line between public office and private enrichment, reviving debate over whether elected officials should participate in crypto enterprises while in power.
