Senate Democrats Demand Investigation Into $500M Trump Crypto Deal With Abu Dhabi-Backed Firm

According to Senate Democrats, US lawmakers are calling for a formal congressional investigation into a reported $500 million investment by an Abu Dhabi-backed firm that acquired a 49% stake in World Liberty Financial, a crypto platform linked to President Donald Trump, in January 2025. The senators are urging Senate Republican leaders to hold hearings and require Trump administration officials to testify under oath about the transaction.

Democrats raised concerns that the UAE may have received favorable treatment after the investment, pointing to subsequent US approvals of arms and artificial intelligence chip agreements with the UAE. The lawmakers also questioned recent changes to crypto enforcement, citing exemptions for certain crypto service providers and the disbanding of the Department of Justice's cryptocurrency enforcement unit.