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Congress members to investigate Trump’s cryptocurrency project ties to Arab sheikhs., 2026/02/05 14:22:20
The U.S. House of Representatives has initiated an investigation to determine the extent of the connection between President Donald Trump’s family crypto project, World Liberty Financial (WLFI), and the ruling royal family of the United Arab Emirates.
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Congressman Ro Khanna, a Democrat and member of the House’s special committee on the Chinese Communist Party (a temporary commission examining the influence of China on U.S. interests), has sent an official letter to WLFI. The legislator stated that the committee has commenced a parliamentary investigation and is demanding the submission of documents regarding the company’s ownership, payment details, and internal communications, particularly with Arab partners, by March 1.
Khanna justified the request by citing potential conflicts of interest and national security risks for the U.S.: it is alleged that the stablecoin USD1 issued by World Liberty is involved in transactions related to the UAE’s procurement of AI chips.
In his correspondence, the congressman seeks confirmation from WLFI regarding the details of UAE investments: whether $187 million has been deposited into accounts associated with the Trump family and if there have been additional payments to affiliates of the company’s co-founders. The company has also been asked to provide information about capitalization, profit distribution, documents related to the appointment of board members, and due diligence materials concerning the Arab partner, Aryam Investment 1.
The congressman also aims to clarify the role of Trump’s stablecoin in a $2 billion investment deal with the cryptocurrency exchange Binance and is requesting an explanation from WLFI regarding how USD1 was selected, the revenue generated from the deal, and whether company employees participated in discussions concerning a potential presidential pardon for Binance founder Changpeng Zhao.
The parliamentary investigation was prompted by reports that an entity linked to the UAE royal family secretly negotiated to acquire a 49% stake in World Liberty Financial for $500 million shortly before Trump’s inauguration. According to The Wall Street Journal, the USD1 stablecoin, pegged to the dollar, was utilized for investments by the Arab company MGX in the Binance exchange.
