Trump’s Crypto Empire Has 5 Senate Democrats Demanding A National Security Investigation

Five ranking Senate Democrats sent a letter to Republican-controlled committee chairs on Friday demanding hearings into President Donald Trump’s crypto holdings, citing national security concerns raised by his 2025 financial disclosure and questions about foreign investment in his family’s crypto ventures. 

The senators behind the letter are Elizabeth Warren of Massachusetts, Richard Blumenthal of Connecticut, Gary Peters of Michigan, Dick Durbin of Illinois, and Ron Wyden of Oregon. 

World Liberty Financial At The Center 

In the letter, they pointed to Trump’s financial disclosure showing his family’s crypto ventures generated approximately $1.4 billion in income during the first year of his second term — what they described as the vast majority of his total earnings for the period.

The central focus of their concerns is World Liberty Financial (WLFI), according to CNBC. A group tied to Sheikh Tahnoon bin Zayed Al Nahyan — the United Arab Emirates’ (UAE) national security adviser — reportedly purchased a 49% stake in the company, a transaction the senators’ letter referenced directly. 

The disclosure also listed unidentified “Third Parties” among World Liberty’s backers, prompting the senators to call for an examination of whether the UAE or other foreign investors had any influence over administration policy decisions.

Trump pushed back on the allegations in a CNBC interview at the White House last week, saying there was “nothing illegal” or “wrong” with his family’s involvement in crypto. He said his son Eric Trump oversees his assets and that outside firms manage his investments.  “I tell my kids, stay away from as much as you can stay away from, but they also have a life,” the president said.

Crypto Investigations Keep Piling Up For Trump

Friday’s letter builds on a series of earlier Democratic attempts to investigate World Liberty’s foreign ties that have so far gone nowhere in a Republican-controlled Congress. 

Representative Ro Khanna of California launched a House inquiry in February into the reported UAE investment, seeking records about the transaction and whether it was connected to subsequent changes in US restrictions on advanced AI chip exports. World Liberty dismissed that inquiry as politically motivated.

Senate Democrats separately sought hearings in June after reports emerged that UAE officials paid $218 million to entities tied to the Trump family and to the family of Steve Witkoff, the US special envoy to the Middle East.

CNBC reported that those senators also questioned whether that arrangement influenced subsequent administration decisions on AI chip exports and arms sales to the UAE. As of this writing, neither the White House nor Trump have issued a direct response to Friday’s letter. 

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