U.S. senators request the Foreign Investment Committee to investigate the UAE's reported stake in a cryptocurrency company owned by the Trump family

According to a report by Reuters, two Democratic senators from the U.S. Senate Banking Committee, Elizabeth Warren and Andy Kim, have written to Treasury Secretary Scott Bessent, requesting a review of a transaction involving an Emirati entity acquiring a stake in a cryptocurrency business owned by the Trump family.

It was reported that a company under the UAE National Security Advisor purchased a 49% stake in World Liberty Financial for $500 million. The two senators are calling for an investigation into whether this transaction poses national security risks. Warren and Kim are asking Bessent, who heads the Committee on Foreign Investment in the United States (CFIUS), to determine whether a CFIUS review is necessary for the UAE's acquisition of the 49% stake in World Liberty Financial, and if so, to conduct a comprehensive, thorough, and fair investigation. They have requested that Bessent respond to several questions by March 5, including whether CFIUS has reviewed the transaction in any form or submitted any recommendations to President Trump. The two senators pointed out that the transaction raises significant national security concerns regarding whether countries like the UAE could gain access to "sensitive personal information" collected by World Liberty Financial.