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US Senators Seek Probe into UAE Deals Involving Trump-Linked Crypto Firm

US Senators Seek Probe into UAE Deals Involving Trump-Linked Crypto Firm

Senators Elizabeth Warren and Elissa Slotkin seek investigations into ethics violations tied to UAE multi-billion-dollar deals involving Trump’s family and Steve Witkoff, citing conflicts of interest and national security risks.

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Fact Check
The evidence unequivocally confirms the statement. A press release from the offices of U.S. Senators Jeff Merkley and Elizabeth Warren explicitly states they are requesting an 'urgent inquiry' into a 'billion-dollar business deal involving the state-backed Emirati investment firm MGX' and a 'Trump-Linked Crypto' company. This is corroborated by several news reports.
Summary

Senators Elizabeth Warren and Elissa Slotkin renewed calls for investigations into potential ethics violations by Trump administration officials in two major UAE-related transactions. One deal benefited Donald Trump and adviser Steve Witkoff’s family through World Liberty Financial, a crypto-linked firm that received $2 billion from a UAE sovereign wealth fund and controls 3.75 billion WLFI tokens valued at about $800 million. Another deal permitted exports of U.S. AI chips to the UAE despite security concerns. Federal law bars officials from participating in decisions tied to their economic interests, raising conflict-of-interest concerns that prompted the senators’ request.

Terms & Concepts
  • WLFI Tokens: Digital assets issued by World Liberty Financial, reported to be valued at $800 million and connected to Trump and Witkoff’s families.
  • AI Chips: Specialized processors used in artificial intelligence applications, which can pose national security risks if exported to foreign governments.
  • Conflict of Interest: A situation where personal or financial interests could improperly influence an official’s decision-making responsibilities.