Representative Ro Khanna (D-CA-17) launched an investigation Thursday into a $500 million investment by a United Arab Emirates royal family member in World Liberty Financial, the Trump family's crypto company, raising questions about whether the deal influenced U.S. policy on advanced AI chip exports to the UAE.
Breaking: I have launched an investigation as ranking member of the Select Committee on China into a $500 million UAE investment in the Trump family’s cryptocurrency company.
The deal reportedly directed approximately $187 million to Trump family entities and $31 million to entities affiliated with Steve Witkoff's family.
Within months, the Trump administration reversed Biden-era restrictions and approved export licenses allowing the UAE access to tens of thousands of advanced AI chips previously blocked over concerns the technology could be diverted to China.
He added that regardless of policy views, “seemingly subordinating robust policy discussions to the President’s personal financial interests is unacceptable.”
Decrypt has reached out to the White House and WLFI for comment.
World Liberty Financial under scrutinyKhanna’s letter states that Sheikh Tahnoon, also known as the “Spy Sheikh,” oversees major investment and technology vehicles, including G42 and MGX.
G42 has long sought access to advanced U.S. semiconductors for AI development but has faced sustained U.S. scrutiny over alleged ties to China, he said.
When lobbying did not resolve those restrictions, the UAE appeared to pair diplomacy with large investments tied to the incoming president’s business network, the congressman noted.
Khanna wrote that, “By all accounts, this is a scandal that would receive far more scrutiny under different political circumstances.”
