World Liberty Financial (WLFI), a crypto company tied to former President Donald Trump’s family, is under scrutiny from House Democrats after reports that an entity linked to an Abu Dhabi royal invested $500 million in the firm.
Representative Ro Khanna (D-Calif.), who has criticized public officials’ exposure to crypto, announced on social media that he has opened an investigation into the UAE investment in WLFI and urged a U.S. attorney to probe the deal. Khanna said the inquiry concerns public trust and transparency.
The reported investment was backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser since 2016. According to reports, the investment gave Tahnoon a 49% stake in WLFI and included efforts to obtain access to advanced artificial intelligence chips.
As part of the probe, Khanna sent a letter to WLFI CEO Zach Witkoff requesting answers to 16 questions and documents related to the investment agreement with Tahnoon. He also sought records on WLFI’s revenue and profit distribution and policies addressing conflicts of interest tied to the transaction.
President Trump has denied personal involvement in the deal, saying his family is handling WLFI matters and that his sons are managing the company’s affairs.
Khanna warned the arrangements could violate multiple U.S. laws and the Constitution, asserting that the integrity of policymaking is critical to competing with geopolitical rivals such as China.
This investigation follows Khanna’s prior efforts to limit officials’ crypto exposure. In October, he introduced legislation to prohibit the president, members of Congress and their immediate families from trading cryptocurrency, citing conflict-of-interest and foreign-influence concerns.
The controversy highlights broader tensions in Washington over crypto regulation, amid delayed progress on federal frameworks like the CLARITY Act, which aims to clarify rules for digital assets including stablecoins and spot trading.
Cointelegraph notes its commitment to independent, transparent journalism and encourages readers to verify information independently in line with its editorial policy.
