The US House Select Committee on the Chinese Communist Party has launched an investigation into World Liberty Financial (WLF) following reports that an Emirati royal secretly acquired a 49% stake in the Trump family-linked crypto project for $500 million.
Representative Ro Khanna, the committee’s ranking member, initiated the inquiry on Wednesday to determine if the deal influenced US policy regarding the export of advanced artificial intelligence (AI) chips to the United Arab Emirates (UAE). The probe focuses on a potential “pay-for-play” scheme, as the investment was reportedly finalized just four days before President Donald Trump’s 2025 inauguration.
Exclusive: The top Democrat on a House committee overseeing U.S.-China competition has launched a probe into a $500 million investment by an Abu Dhabi royal in a Trump family cryptocurrency company https://t.co/JLeZuYS2eQ
— The Wall Street Journal (@WSJ) February 4, 2026
Lawmakers question potential national security risks
Representative Khanna’s investigation seeks to uncover whether the $500 million commitment from Aryam Investment, a firm backed by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan, paved the way for the UAE to bypass strict AI chip export controls. Documents suggest that out of an initial $250 million payment, $187 million was transferred to Trump family entities, while $31 million went to businesses tied to Steve Witkoff, the US Special Envoy to the Middle East. Shortly after these transactions, the Trump administration approved the sale of 500,000 high-end AI chips to the UAE, a move previously blocked due to fears of technology diversion to China.
The committee has requested comprehensive documentation from WLF by March 2026, specifically targeting the project’s facilitation of a $2 billion investment into the Binance exchange by Emirati AI firm MGX.
White House denies conflicts of interest
In response to the growing scrutiny, President Trump stated on Monday that he has no knowledge of the investment and is not involved in the project’s daily operations. He noted that his sons, Eric and Donald Trump Jr., manage such business decisions while he focuses on geopolitical issues in Russia and Ukraine. White House spokespeople added that the President’s assets are held in a trust managed by his children, asserting that no ethical violations or constitutional breaches have occurred.
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