Crypto: Senators Ask Bessent To Probe $500m Uae Stake In Trump-linked Wlfi
Elizabeth Warren and Andy Kim call on Treasury’s Scott Bessent to review a UAE-backed investment in the Trump-linked crypto firm over national security concerns.
Two US senators are pressing the Treasury Department to investigate a reported foreign investment in a crypto venture tied to the Trump family, raising concerns about national security, foreign influence and access to sensitive financial data.
In a Friday letter to Treasury Secretary Scott Bessent, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim asked the government to determine whether the Committee on Foreign Investment in the United States (CFIUS) should investigate a deal in which a UAE–backed investment vehicle agreed to purchase a 49% stake in World Liberty Financial (WLFI) for roughly $500 million.
The lawmakers wrote that the transaction reportedly occurred days before Donald Trump’s inauguration and would make the foreign fund the firm’s largest shareholder and its only publicly known outside investor. They asked Bessent, who chairs CFIUS, to confirm whether the committee was notified and, if necessary, conduct a “comprehensive, thorough, and unbiased investigation.”
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 two board seats to executives connected to G42, a technology company previously scrutinized by US intelligence agencies over concerns about ties to China, per the letter.
Related: Trump Media files for two new crypto ETFs tied to Bitcoin, Ether, Cronos
CFIUS is tasked with reviewing foreign investments that could provide access to sensitive technologies or personal data belonging to US citizens. The lawmakers requested answers by March 5.
Last year, Senators Warren and Jack Reed also called on US authorities to investigate alleged links between World Liberty Financial’s token sales and sanctioned foreign actors. In a Nov. letter to the Justice Department and Treasury, 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.
Related: Trump family’s WLFI plans FX and remittance platform: Report
Earlier this month, US President Donald Trump said he was unaware of the reported multimillion-dollar investment tied to an Abu Dhabi royal and entities connected to the World Liberty
Source: CoinTelegraph
