Trump Crypto Deals Prompt Senators to Seek Federal Investigation

• Senators push probe into Trump crypto deals tied to UAE investments and AI exports.
• Officials’ undisclosed ties to USD1 raise national security and ethics concerns.
• Lawmakers stress inquiry’s role in shaping future crypto market legislation.

Trump crypto deals are at the center of a new congressional push for oversight into possible conflicts of interest involving senior administration officials. Senator Elizabeth Warren (D-Mass.), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, and Representative Elissa Slotkin (D-Mich.) have formally requested federal reviews of two former Trump advisers, David Sacks and Steve Witkoff.

The lawmakers sent letters to the acting inspectors general of the Departments of Commerce and State, as well as to the acting director of the Office of Government Ethics. They asked the agencies to examine how the officials may have influenced U.S. policy on sensitive artificial intelligence technology exports while standing to benefit financially from related cryptocurrency ventures.

Officials Linked to UAE Investment and USD1

The request follows reporting that detailed connections between the Trump family’s cryptocurrency enterprise, World Liberty Financial, and a $2 billion investment by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security advisor. That investment was tied to USD1, a stablecoin backed by the Trump family.

According to the senators, Witkoff has retained financial interests in the Trump-affiliated company, while his son brokered the UAE-backed deal. At the same time, Sacks manages a venture capital fund supported by Emirati financing, with additional exposure to infrastructure tied to USD1. These arrangements, the lawmakers wrote, demonstrate how Trump crypto deals intersected with government decision-making.

National Security Concerns and Crypto Legislation

The senators pointed to the Trump administration‘s decision to ease restrictions on exports of advanced AI systems to the UAE. They said Sacks and Witkoff defended the deal publicly but failed to disclose their financial ties to Emirati leadership or their potential gains from the USD1 investment.

Their letter warned that such undisclosed financial stakes created national security concerns and raised ethical issues about the overlap of personal profit and public duty. They argued that Trump’s crypto deals showed how senior officials could shape policy while maintaining direct business benefits.

Call for Thorough Investigation

Warren and Slotkin asked the oversight bodies to conduct a full review of the circumstances and provide clarity on the roles of both officials. They emphasized that understanding these ties is crucial as Congress drafts legislation on digital asset market structure.

The senators concluded by stating that the scope of conflicts in this case is significant compared with historical examples, urging immediate and comprehensive evaluation. They said the findings will be necessary to prevent crypto-related corruption from undermining U.S. national security.