Top Senate Democrats are urging Republican leaders, who control the chamber, to hold hearings on reported ties between President Donald Trump’s family crypto venture and Abu Dhabi royalty.
On Tuesday, Democratic senators sent a letter to Republican leadership urging them to “immediately hold hearings on these urgent matters.” Republicans currently control both the House and Senate, giving them sole authority to decide whether such hearings will take place.
Earlier this year, the Wall Street Journal reported that an Abu Dhabi investment vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan secretly acquired a 49% stake in World Liberty Financial — the DeFi and stablecoin project that lists President Trump and his three sons as advisors — in an agreement signed by Eric Trump four days before his father's January 2025 presidential inauguration.
Half of that $500 million stake was paid upfront, with $187 million going to Trump family-controlled entities and at least $31 million going to entities affiliated with the family of Steve Witkoff, the real estate mogul who co-founded World Liberty and was later named U.S. Special Envoy to the Middle East. Witkoff's son Zach is the current CEO of World Liberty.
