Senators ask Bessent to probe $500M UAE stake in Trump-linked WLFI
Elizabeth Warren and Andy Kim call on Treasury’s Scott Bessent to review a UAE-backed investment in the Trump-linked crypto firm over national security concerns.
Two US senators are pressing the Treasury Department to investigate a reported foreign investment in a crypto venture tied to the Trump family, raising concerns about national security, foreign influence and access to sensitive financial data.
In a Friday letter to Treasury Secretary Scott Bessent, Massachusetts Senator Elizabeth Warren and New Jersey Senator Andy Kim asked the government to determine whether the Committee on Foreign Investment in the United States (CFIUS) should investigate a deal in which a UAE–backed investment vehicle agreed to purchase a 49% stake in World Liberty Financial (WLFI) for roughly $500 million.
The lawmakers wrote that the transaction reportedly occurred days before Donald Trump’s inauguration and would make the foreign fund the firm’s largest shareholder and its only publicly known outside investor. They asked Bessent, who chairs CFIUS, to confirm whether the committee was notified and, if necessary, conduct a “comprehensive, thorough, and unbiased investigation.”
Read more
