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Two Democratic members of the U.S. Senate Banking Committee are pressing the Treasury Department to review a reported $500 million investment by a senior United Arab Emirates official into World Liberty Financial, a cryptocurrency venture linked to President Donald Trump. Senators Elizabeth Warren and Andy Kim have formally asked Treasury Secretary Scott Bessent, who chairs the Committee on Foreign Investment in the United States (CFIUS), to determine whether the transaction requires a national security review.
According to a letter seen by Reuters, the senators requested clarity on whether CFIUS has examined the reported 49% UAE stake in World Liberty Financial and whether any recommendations were made to President Trump. They asked for responses to several questions by March 5, emphasizing the need for a “comprehensive, thorough and unbiased investigation.” The Treasury Department has not yet commented publicly on the matter.
The lawmakers argue that the deal raises significant national security concerns, particularly regarding foreign access to sensitive U.S. data and critical technology. CFIUS, an interagency panel led by the Treasury Department and including representatives from Defense, State, Commerce, Homeland Security, and Justice, reviews foreign investments for potential security risks.
The Wall Street Journal previously reported that G42, a technology company backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and head of its largest sovereign wealth fund, acquired the stake shortly before Trump began his second term in January 2025. Months later, the Trump administration approved the sale of advanced AI chips to the UAE, further intensifying scrutiny.
World Liberty Financial, founded shortly before the November 2024 election, operates the USD1 stablecoin, which is pegged to the U.S. dollar and backed by U.S. Treasuries and cash equivalents. The company lists Trump and businessman Steve Witkoff as co-founders emeritus, with operations managed by their family members.
Senators Warren and Kim also cited longstanding U.S. intelligence concerns that G42 may have supported China’s military technology efforts, adding another layer of complexity to the review request.
