Senate Democrats urge hearing on Trump family's crypto ties to Abu Dhabi

U.S. Senate Democratic leadership is strongly urging their Republican counterparts to hold a hearing into alleged ties between President Donald Trump's family crypto business and the Abu Dhabi royal family, The Block reported. In a letter, senior Democratic senators including Elizabeth Warren and Gary Peters argued that the stake in the Trump family's DeFi project, World Liberty Financial (WLF), could pose a threat to national security. The Wall Street Journal previously reported that an investment institution led by Abu Dhabi's Deputy Prime Minister, Sheikh Tahnoon bin Zayed Al Nahyan, secretly acquired a 49% stake in WLF just before President Trump's inauguration. Several months later, the Trump administration announced a framework permitting the export of artificial intelligence (AI) semiconductors to the United Arab Emirates (UAE). Democrats contend that Congress must investigate whether this investment agreement influenced the administration's policy decisions. With the Republican Party currently holding the majority in Congress, they have full authority over whether to convene a hearing. The allegation is also a significant hurdle for the passage of the Clarity Act, fueling demands to add conflict of interest and ethics provisions to the bill.