Svmuu News: U.S. Senate Democrats have sent a letter to Republican leadership demanding an immediate hearing on the potential ties between the Donald Trump family’s crypto project, World Liberty Financial, and the Abu Dhabi royal family.
This follows a report by The Wall Street Journal stating that an investment entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, secretly acquired a 49% stake in World Liberty Financial. The project is a DeFi and stablecoin initiative, with Donald Trump, and his three sons listed as advisors.
According to the report, the agreement was signed by Eric Trump on Donald Trump four days before ’s presidential inauguration in January 2025. The deal was valued at $500 million, half of which had already been paid in advance.Approximately $187 million flowed to entities controlled by the Donald Trump family, while at least $31 million went to entities linked to the family of World Liberty co-founder Steve Witkoff. Witkoff was later appointed U.S. Special Envoy to the Middle East, and his son, Zach Witkoff, currently serves as CEO of World Liberty.
Donald TrumpHe stated that he was unaware of this $500 million investment and was not directly involved in the day-to-day operations of World Liberty Financial. Democrats believe this matter involves a potential conflict of interest between the president’s family’s business interests, foreign capital, and government diplomatic positions, and have therefore called on the Republican-led Senate to launch an investigation as soon as possible.