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U.S. Senate Democrats Call for Investigation into Trump's Family Cryptocurrency Transactions
Deep Tide TechFlow News: On June 24, Cointelegraph reported that U.S. Senate Democrats sent a letter to Republican leaders on Tuesday, urging an immediate hearing regarding the $500 million investment deal between the Trump family’s crypto company World Liberty Financial and the United Arab Emirates, and requesting that Trump administration officials testify under oath.
The deal was signed in January 2025. An investment firm supported by UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan planned to acquire a 49% stake in World Liberty Financial. Five Democratic lawmakers, including Elizabeth Warren and Richard Blumenthal, said that months later, the arms and AI chip transactions between the Trump administration and the UAE raised national security concerns. They said it was necessary to investigate whether the investment affected the president’s decisions and questioned actions such as the Trump administration loosening crypto regulation and disbanding the Justice Department’s crypto enforcement team.