Ro Khanna, the ranking Democrat on the House Select Committee on the Chinese Communist Party, formally opened an investigation into World Liberty Financial (WLFI), a cryptocurrency project co-founded by members of the Trump family.
The inquiry follows a Wall Street Journal report alleging a previously undisclosed $500 million foreign investment tied to the United Arab Emirates, raising concerns over potential conflicts of interest, national security implications, and the intersection of private crypto ventures with U.S. foreign policy decisions.
Details of the UAE-Linked Investment
According to the information, an Emirati firm known as Aryam Investment 1, backed by UAE National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, acquired a 49% equity stake in World Liberty Financial.
The agreement was reportedly finalized in January 2025, just four days before President Trump’s second inauguration, intensifying scrutiny around the timing of the transaction.
Of the reported $500 million investment:
- Approximately $187 million allegedly flowed directly to Trump family–controlled entities.
- Roughly $31 million was directed to entities linked to Steve Witkoff, currently serving as the President’s Special Envoy to the Middle East.
Focus Areas of the Congressional Investigation
Rep. Khanna’s inquiry centers on whether the foreign investment intersected with sensitive U.S. policy decisions or created conflicts of interest involving senior government officials.
One area of focus involves national security and artificial intelligence exports. Lawmakers are examining whether the WLFI investment coincided with, or influenced, the administration’s approval of a deal allowing the sale of 500,000 advanced AI chips to the UAE. The transaction benefited G42, an AI company also managed by Sheikh Tahnoon.
The investigation is also reviewing WLFI’s role in a $2 billion transaction involving Binance, particularly the use of WLFI’s USD1 stablecoin. As part of this review, lawmakers are probing whether any WLFI representatives discussed the subsequent presidential pardon of Changpeng Zhao, Binance’s founder.
To assess potential conflicts of interest, Rep. Khanna has formally requested detailed ownership records, payment flows, and internal communications from WLFI, with a submission deadline of March 1, 2026.
Responses From the Parties Involved
President Donald Trump stated that he was “unaware” of the investment, emphasizing that his sons and other family members manage the business independently.
World Liberty Financial rejected the inquiry outright. A company spokesperson described the investigation as a “baseless assault”, accusing lawmakers of harassing a private American business for political gain.
