Several Democrats in the United States Senate have called for an immediate hearing to investigate whether the $500 million investment of Emirates officials in the Tromp family encryption project World Liberty Financial (WLFI) affected the subsequent policy decisions of the Trump Government towards the Emirates.

In a joint letter dated 23 June, members of Parliament stated that the deal gave investors associated with the United Arab Emirates 49 per cent of their interest in WLFI and paid $218 million in advances to entities associated with the Tromp family and its senior Middle East diplomat, Steve Witkov. According to parliamentarians, such an arrangement could constitute an unprecedented foreign government influence.

The deal is done before the job.

The joint letter stated that the deal had been completed four days before Trump took office last year, and that the signatories included persons close to the Abu Dhabi royal family. Members of Parliament also mentioned that Sheikh Tahnon bin Zayed Al Nahyan, National Security Adviser of the United Arab Emirates, had been accused of supporting the arrangement.

The parliamentarians who requested it included Elizabeth Warren, Richard Blumenthal, Gary Peters, Richard Debin and Ron Wilden. They asked for hearings by various Senate committees and for a sworn statement from government officials as to whether they were aware of the payments and whether there was a conflict of interest between those payments and subsequent policies.

Members of Parliament named a number of pro-UAE policies

In his letter, the members of Parliament cited a number of subsequent decisions taken by the Trump Government. One was the approval in May 2025 to sell $1.4 billion of weapons to the United Arab Emirates. The second is the United States Treasury's “Pilot of Known Investors” project to expedite the processing of United States Foreign Investment Review Committee (CFIUS) approvals, which the United Arab Emirates has been promoting previously.

The letter also mentioned that the Department of Commerce of the United States had removed restrictions on the export of chips from the Biden period, which had enabled the United Arab Emirates to obtain more advanced chips. According to parliamentarians, UAI G42 was allowed to receive 35,000 Nvidia Blackwell chips, with a value of over $1 billion.

Stable currency dispute is magnified.

It was also mentioned that concerns surrounding foreign influence were not the first to emerge. Prior to that, a large investment by the UAE State-owned background investment company MGX had increased the market value of the Trump stabilization currency by nearly $2 billion in a short period of time.

Members of Parliament requested that government officials in Trump explain during the hearing when they were informed of the payments made to the family of the President and to the families of his chief diplomat for Middle East affairs and how the Government would respond to external challenges to policy independence.

Additional information:CoinDesk stated that WLFI and the Government of the United Arab Emirates had been contacted on the matter and that the report had not been publicly commented upon by the time it was published.