Two US senators are urging the Treasury Department to investigate a reported $500 million foreign investment in a crypto venture linked to the Trump family, citing concerns about national security and access to sensitive financial data. The deal involved a UAE-backed investment vehicle purchasing a 49% stake in World Liberty Financial. The transaction reportedly occurred days before Trump’s inauguration.

The UAE-backed investment, led by Sheikh Tahnoon bin Zayed Al Nahyan, would make the foreign fund the firm’s largest shareholder. The deal also allegedly directed $187 million to entities linked to the Trump family and granted board seats to executives connected to G42, a company previously scrutinized for ties to China. The structure of the deal raises concerns about foreign influence over a US company handling sensitive data.

Senators Elizabeth Warren and Andy Kim argue that the investment could expose Americans’ financial and personal information to a foreign government. The firm collects data such as wallet addresses, IP addresses, and identity records. The lawmakers have requested answers from the Committee on Foreign Investment by March 5.

Last year, Senators Warren and Jack Reed called for an investigation into alleged links between World Liberty Financial’s token sales and sanctioned foreign actors. Claims suggest that WLFI governance tokens were purchased by entities tied to North Korea’s Lazarus Group, Russia, and Iran. President Trump denies direct involvement in the reported investment, stating that his family is managing the matter, specifically his sons.

Read more at Cointelegraph: Senators Urge CFIUS Probe of $500M UAE Stake in Trump-Linked WLFI