Key Highlights
- U.S. Senator Elizabeth Warren has called for a federal investigation into President Trump’s connection with crypto
- The probe specifically targets a $2 billion deal between World Liberty Financial and a United Arab Emirates state fund
On September 24, U.S. Senator Elizabeth Warren called for an investigation into U.S. President Donald Trump’s crypto deals with foreign countries.
A prominent United States senator has demanded an official investigation into the cryptocurrency business activities of President Donald Trump’s family. They allegedly cited ethical violations and conflicts of interest.
🚨 LATEST: Senators Elizabeth Warren and Elissa Slotkin call for probes into Trump-era officials over UAE-linked AI chip and $2B crypto deals. #Crypto #UAE pic.twitter.com/qhdLR6tuNz
— CryptoAlert (@SatoshiWatch) September 24, 2025
On September 24, Senator Elizabeth Warren of Massachusetts, along with Senator Elissa Slotkin of Michigan, sent formal letters to multiple government oversight agencies.
They are requesting investigations into whether Trump administration officials have implemented policies that financially benefit the president’s family through foreign cryptocurrency ventures.
Senators Fire a Shot at Trump’s Crypto Venture
The senators specifically referenced World Liberty Financial (WLFI), a cryptocurrency company backed by Donald Trump Jr. and Eric Trump, which recently secured a $2 billion investment from Abu Dhabi state-backed MGX.
The controversy centers around whether the Trump family’s substantial financial interests in cryptocurrency businesses might influence government policy decisions.
According to the senators’ letters, WLF’s arrangement with the United Arab Emirates could provide the Trump family with hundreds of millions of dollars in revenue while granting foreign partners access to valuable American technology.
Senator Warren described the pattern of transactions as “deeply troubling” and raised concerns about potential “quid pro quo” arrangements where foreign governments might seek to influence U.S. policy through business relationships.
Trump Faces Backlash for His Cryptocurrency Ventures
This is not the first time Senator Warren has raised concerns about cryptocurrency-related ethics issues. Earlier in 2025, she questioned the creation of Trump-themed memecoins, saying that they could serve as untraceable channels for foreign influence.
In May, she investigated WLF’s connections to cryptocurrency exchange Binance and its founder, Changpeng Zhao, who faces fraud charges from regulators.
The White House dismissed the allegations as “partisan theater,” maintaining that all business activities comply with disclosure requirements and legal standards.
President Trump has consistently defended cryptocurrency as “American innovation” that creates jobs and economic growth. At a recent rally, he characterized such investigations as “witch hunt nonsense” aimed at undermining his administration’s supportive stance toward digital assets.
The ethical questions arise amid significant regulatory changes in the cryptocurrency landscape.
The GENIUS Act, signed into law in July 2025, established the first comprehensive federal framework for stablecoins. While industry supporters view this legislation as necessary for innovation and consumer protection, critics like Senator Warren have described it as enabling potential conflicts of interest.
The requested investigation touches on several complex legal questions, including the interpretation of the Emoluments Clause of the U.S. Constitution, which prohibits federal officials from receiving gifts or benefits from foreign governments without congressional consent.
Ethics experts are divided on whether the business activities in question violate existing laws, particularly given questions about how presidential immunity might apply.
The controversy reflects broader debates about cryptocurrency regulation and political accountability. As digital assets become more integrated into the mainstream financial system, questions about appropriate oversight and potential conflicts of interest have gained prominence.
The cryptocurrency market has grown substantially under the current administration, with total market value approaching $4 trillion, making regulatory decisions increasingly significant.
Senator Warren’s action also highlights the international dimensions of cryptocurrency regulation. The involvement of foreign investors and the global nature of digital asset markets create complex jurisdictional questions for regulators.
The relationship between U.S. policy decisions and international business partnerships remains a sensitive topic, particularly when senior officials’ family members have substantial financial interests in the industry.
The agencies receiving the investigation requests, including the Office of Government Ethics and inspectors general at multiple departments, typically have 30 days to respond to congressional inquiries.
