Warren Questions U.S. AI Chip Policy Toward UAE, Involving Two World Liberty Investments Totaling $2.5 Billion
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 department's decision to grant UAE-linked entities greater access to AI chip exports after they 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-linked company used World Liberty's USD1 stablecoin to complete a $2 billion investment in crypto exchange Binance.
The U.S. Department of Commerce previously reclassified the UAE as Country Group A:5, allowing it to receive more license-free exports, including advanced chips. The department also stated it would "actively review" license applications involving exports of chips and servers to MGX, the 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, Warren and several other senators had already requested a hearing regarding 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-linked company used World Liberty's USD1 stablecoin to complete a $2 billion investment in crypto exchange Binance.
The U.S. Department of Commerce previously reclassified the UAE as Country Group A:5, allowing it to receive more license-free exports, including advanced chips. The department also stated it would "actively review" license applications involving exports of chips and servers to MGX, the 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, Warren and several other senators had already requested a hearing regarding the $500 million World Liberty Financial transaction.
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