Abu Dhabi · US Senate · Donald Trump · United Arab Emirates · Democrats · Republicans · Cointelegraph
Senate Dems urge probe into $500 million crypto agreement between Trumps, UAE
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Democrats want the Senate to hold hearings on the dealings between the Trump administration, World Liberty Financial and Abu Dhabi royalty.
Key facts
- The pardon came after Binance accepted a $2 billion investment from an Abu Dhabi fund in early 2025 and agreed for the funds to be paid in World Liberty Financial’s stablecoin, USD1
- A group of US Senate Democrats is urging Senate Republican leaders to hold hearings into a reported $500 million deal between the Trump family’s crypto firm and Abu Dhabi royalty
- Donald Trump (right) meeting with Tahnoon bin Zayed Al Nahyan (centre) at the White House in March 2025
- Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin and Ron Wyden signed the letter
Summary
A group of US Senate Democrats is urging Senate Republican leaders to hold hearings into a reported $500 million deal between the Trump family’s crypto firm and Abu Dhabi royalty. In a letter on Tuesday, the Democrats told Republicans, who control the Senate, lead its committees and decide on hearings, that they should “immediately hold hearings” into the deal and have Trump administration officials testify about it under oath. The Wall Street Journal reported in January that an Abu Dhabi investment company backed by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, signed a deal in January 2025 to buy a 49% stake in World Liberty Financial, the crypto platform tied to US President Donald Trump.