Trump’s World Liberty Financial Under Fire as Warren Seeks Probe of UAE Crypto Deal

United States Senator Elizabeth Warren has called for an investigation into the secret investment by a UAE Royal entity into World Liberty Financial. She alleged shades of corruption in the transaction and asked for urgent action.

Warren Continues Probe into World Liberty Financial

In a fresh probe by WSJ, an entity in the United Arab Emirates acquired a 49% stake in WLFI for $500 million. This acquisition was made only days before Trump became the President of the United States of America.

The deal is connected to a firm that is supported by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser Eric Trump signed the agreement that added about $187 million to the Trump family business.  Also, $31 million was added to Steve Witkoff’s firm.

Right after the World Liberty Financial agreement, the United States government agreed to allow the UAE to purchase most of the advanced AI chips from Nvidia. In light of the new information, Senator Elizabeth Warren hit at the firm with “corruption” claims. This came after she shared concerns about the WLFI bank bid.

“This is corruption, plain and simple. The Trump Administration must reverse its decision to sell sensitive AI chips to the United Arab Emirates,” She said in a release. “Officials must testify in front of Congress on mounting evidence that they sold out American national security in order to benefit the President’s crypto company.”

According to the White House, there are no conflicts of interest in the World Liberty Financial deal. They also said that the President only has the best interests of U.S. citizens at heart.

Trump Crypto Business Faces More Scrutiny

This is not the first time that the President’s crypto firm has been checked. For instance, Warren shared her concerns about the WLFI’s bid to be a trust charter bank. She then called for the OCC to stop the review of the application.

Apart from World Liberty Financial, the TRUMP meme coin has fell from its previous highs. This led tomajor losses for most of its investors. At the time, developers had taken profit of more than $800 million.

Legislators are also concerned about the conflicts of interest. They also said a potential rug pull could happen in the future. The Trump family currently holds 80% of the meme coin’s circulation. This could be a major concern in the case of a sell-off.