Warren Questions U.S. AI Chip Policy Toward UAE, Involving Two Investments Totaling $2.5 Billion Linked to World Liberty
2026-08-05 21:22
Odaily News: U.S. Senator Elizabeth Warren has asked the U.S. Department of Commerce to explain its policy toward the UAE, following the U.S. granting the UAE greater access to AI chip exports after UAE-linked entities invested in World Liberty Financial, a crypto project backed by the Trump family.
In a letter to Commerce Secretary Howard Lutnick, it was noted that an Abu Dhabi entity invested $500 million in World Liberty Financial in January; another UAE-affiliated company used World Liberty's USD1 stablecoin to complete a $2 billion investment in the crypto exchange Binance.
The U.S. Department of Commerce previously reclassified the UAE as Country Group A:5, granting it access to more license-free exports, including advanced chips. The department also stated it would "actively review" license applications involving the export of chips and servers to MGX, a UAE entity that completed the $2 billion Binance investment.
Warren stated that the Commerce Department's actions raise serious questions about whether the president's crypto business interests could influence agency operations and national security. In June, several senators, including Warren, had already requested a hearing on the $500 million World Liberty Financial transaction.
In a letter to Commerce Secretary Howard Lutnick, it was noted that an Abu Dhabi entity invested $500 million in World Liberty Financial in January; another UAE-affiliated company used World Liberty's USD1 stablecoin to complete a $2 billion investment in the crypto exchange Binance.
The U.S. Department of Commerce previously reclassified the UAE as Country Group A:5, granting it access to more license-free exports, including advanced chips. The department also stated it would "actively review" license applications involving the export of chips and servers to MGX, a UAE entity that completed the $2 billion Binance investment.
Warren stated that the Commerce Department's actions raise serious questions about whether the president's crypto business interests could influence agency operations and national security. In June, several senators, including Warren, had already requested a hearing on the $500 million World Liberty Financial transaction.
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