Yeliz Akmaca 
Two U.S. senators are urging the Treasury Department to review a reported $500 million UAE-backed investment in a crypto firm linked to the Trump family, citing national security concerns. The request went directly to Treasury, tied to a deal allegedly completed just days before the presidential inauguration.
Confidence in crypto markets was already fragile. Now, that tension is moving through Washington corridors.
Senators press Treasury for review
Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim sent a letter to Treasury Secretary Scott Bessent requesting an urgent review of a deal in which a UAE-backed investment vehicle reportedly acquired a 49% stake in World Liberty Financial (WLFI).
According to the lawmakers, the transaction:
- was finalized shortly before Donald Trump’s inauguration.
- would make the foreign fund WLFI’s largest shareholder.
- positions it as the company’s only publicly known outside investor.
They urged CFIUS to review the deal, warning that the investment could raise national security risks tied to foreign ownership. The letter makes clear that if the deal was not formally disclosed, Treasury should initiate a “comprehensive, thorough, and unbiased” investigation.
UAE ties and Trump family connections
The senators said the investment is reportedly backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser.
The agreement allegedly directed roughly $187 million to entities linked to the Trump family and granted two board seats to executives connected to G42, a technology company previously scrutinized by U.S. intelligence agencies over concerns about possible ties to China.
Warren and Kim also raised concerns about WLFI’s data practices. The platform’s privacy disclosures indicate it collects wallet addresses, IP addresses, device identifiers, approximate location data, and certain identity records through service providers.
In effect, the lawmakers warned, a foreign government–backed fund could gain indirect access to Americans’ financial and personal information.
This is where CFIUS typically steps in. If sensitive technologies or U.S. citizen data are involved, the committee has authority to block or unwind transactions.
Treasury has been asked to respond by March 5.
Not the first warning: North Korea allegations
This is not the first time WLFI has drawn scrutiny.
Last year, Warren and Rhode Island Senator Jack Reed urged federal authorities to investigate alleged links between WLFI token sales and sanctioned foreign actors. In a November letter to the Justice Department and Treasury, they alleged that wallets linked to North Korea’s Lazarus Group, as well as Russian and Iranian entities, purchased WLFI governance tokens.
Whether that inquiry led to formal action remains unclear.
Trump: “I’m not involved, my sons are handling it”
Earlier this month, U.S. President Donald Trump said he was unaware of the reported multimillion-dollar investment connected to an Abu Dhabi royal and the WLFI platform.
Speaking to reporters, Trump said he had no direct role in the deal.
“My sons are handling that — my family is handling it,” Trump said. “I guess they get investments from different people.”
A short statement, with potentially long implications.
Why now?
A $500 million crypto investment alone would normally make headlines. But when timing, foreign government backing, Trump family ties, and access to Americans’ data intersect, the stakes change.
Washington is now asking a sharper question:
Is this simply a financial transaction or an attempt to establish strategic leverage inside the U.S. crypto sector?
CFIUS’s next move could shape not only WLFI’s future, but also how foreign capital enters American crypto markets going forward. The file is moving quietly for now though that silence may not last.
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