Trump's crypto company WLFI faces another storm: Warren calls for investigation into $500 million secret investment in the UAE

On February 2nd, U.S. Senator Elizabeth Warren publicly called on Congress to investigate a major transaction involving an entity with UAE royal background and Trump family’s crypto company World Liberty Financial (WLFI). She believes the investment raises obvious corruption suspicions and demands immediate intervention from relevant authorities.

According to The Wall Street Journal, an entity related to UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan invested approximately $500 million to acquire 49% of WLFI. The deal was signed just days before Trump took office as President of the United States, generating about $187 million in income for the Trump family, with an additional approximately $31 million related to his ally Steve Witkoff.

What further fuels controversy is that shortly after the WLFI transaction was completed, the U.S. agreed to sell a large amount of advanced AI chips from Nvidia to the UAE. Several lawmakers believe the timing of both events is highly coincident, potentially indicating a quid pro quo. Elizabeth Warren stated in a declaration, “This is outright corruption. The government must revoke this chip sale decision and explain to Congress whether national security was sacrificed for the President’s crypto company.”

The White House denied any misconduct, stating that presidential decisions are prioritized based on American citizens’ interests and emphasizing that there is no conflict of interest in the WLFI deal.

In fact, this is not the first time Trump’s crypto business has been questioned. Previously, Warren opposed WLFI’s application for trust charter bank status and demanded the U.S. Office of the Comptroller of the Currency halt its review. Additionally, Trump-themed meme coins, such as TRUMP, experienced significant declines after issuance, causing losses to investors, while insiders reportedly cashed out over $800 million.

Currently, the Trump Organization still controls about 80% of the token, which has a three-year lock-up period. Legislators worry that once the lock-up ends, the market could be impacted again, further fueling discussions around “Trump Cryptocurrency Scandal,” “WLFI UAE Investment Investigation,” “U.S. Crypto Regulatory Political Risks,” and other hot topics.