Senate Democrats Demand Hearings on Trump Family Crypto Project's Ties to Abu Dhabi Royal Family

Odaily星球日报讯 U.S. Senate Democrats sent a letter to Republican leadership, demanding immediate hearings on the potential relationship between the Trump family's crypto project, World Liberty Financial, and the Abu Dhabi royal family.

An earlier report by The Wall Street Journal stated that a investment entity backed by Abu Dhabi royal family member Sheikh Tahnoon bin Zayed Al Nahyan secretly acquired a 49% stake in World Liberty Financial. The project is a DeFi and stablecoin initiative, with Trump and his three sons listed as advisors.

The report said the agreement was signed by Eric Trump four days before Trump's presidential inauguration in January 2025. The deal was valued at $500 million, with half paid upfront. Approximately $187 million flowed to entities controlled by the Trump family, while at least $31 million went to entities associated with the family of World Liberty co-founder Steve Witkoff. Witkoff was later appointed as the U.S. Special Envoy for the Middle East, and his son, Zach Witkoff, currently serves as CEO of World Liberty.

The Trump side stated that he was not aware of the $500 million investment and is not directly involved in the day-to-day operations of World Liberty Financial. Democrats believe the matter involves potential conflicts of interest between the president's family business interests, foreign capital, and government diplomatic roles, and have therefore called on the Republican-led Senate to launch an investigation promptly.