Powered by Yahoo Scout. Yahoo is using AI to generate key points from this article. This means the info may not always match what’s in the article. Reporting mistakes helps us improve the experience.
Key takeaways Powered by Yahoo Scout. Yahoo is using AI to generate key points from this article. This means the info may not always match what’s in the article. Reporting mistakes helps us improve the experience.
The White House has denied that the Trump administration's AI agreement with the United Arab Emirates had any connection to World Liberty Financial.
This comes after Senate Democrats called for hearings into the Trump family-backed crypto firm's reported ties to Abu Dhabi.
In comments provided to BeInCrypto, White House spokeswoman Anna Kelly said the UAE AI agreement was designed to deepen a strategic technology partnership between Washington and Abu Dhabi.
Five Senate Democrats asked Republican committee chairs this week to hold hearings into World Liberty Financial and foreign crypto deals linked to Trump, his family, and Special Envoy Steve Witkoff.
The request followed reports that a UAE-linked investment vehicle agreed to buy a 49% stake in World Liberty Financial for roughly $500 million shortly before Trump returned to office.
The lawmakers said the timing raised questions about whether foreign-linked money flowing into a Trump family crypto venture overlapped with later US policy decisions involving the UAE.
The White House framed the UAE agreement as a national security and industrial policy move, rather than a private business matter.
That point goes to the center of the dispute.
Democrats argue that the UAE's role in World Liberty Financial deserves scrutiny because the administration later approved sensitive technology and policy benefits involving Abu Dhabi.
The White House says the AI agreement advanced US strategic interests and included safeguards for American technology.
White House Counsel David Warrington also rejected the suggestion that Trump's private business interests affected official policy.
World Liberty Financial has become a political flashpoint because it sits at the intersection of crypto, foreign capital, and Trump family business interests.
The reported UAE-linked investment has drawn attention because Abu Dhabi has also played a growing role in AI, semiconductors, and digital assets. UAE-backed MGX was separately linked to a $2 billion Binance deal that used World Liberty Financial's USD1 stablecoin.
Democrats have used those connections to argue that Congress should examine whether foreign actors gained influence through crypto-linked transactions.
The White House says that the argument is politically motivated.
The senators have also focused on Steve Witkoff, Trump's Special Envoy for Peace Missions, because of his family's connection to World Liberty Financial.
Warrington said Witkoff complied with ethics rules and had stepped away from the company.
A source close to Witkoff, speaking on background, said his children run World Liberty Financial and that he had no role in the company.
Democrats want sworn testimony and committee hearings into whether World Liberty Financial's foreign-linked deals created conflicts inside the administration.
The White House says the UAE AI agreement had no connection to the firm and that both Trump and Witkoff were separated from relevant business interests.
For now, the fight has moved from crypto markets into congressional oversight.
Read the Original story White House Denies Trump Crypto Link to UAE AI Deal After Senate Democrats Demand Hearings by Mohammad Shahid at beincrypto.com