Senator Elizabeth Warren has asked the U.S. Commerce Department to explain its AI chip export policy toward the United Arab Emirates, after UAE-linked entities invested a combined $2.5 billion into World Liberty Financial, the crypto project backed by the Trump family. In a letter to Commerce Secretary Howard Lutnick, Warren cited an Abu Dhabi entity's $500 million investment in World Liberty in January, as well as a $2 billion investment in crypto exchange Binance that she said was completed by UAE-affiliated firm MGX using World Liberty's USD1 stablecoin. The Commerce Department had previously placed the UAE in Country Group A:5, a status that expands access to license-free exports, including advanced chips. The department has also said it would "actively review" license applications covering chip and server exports to MGX, the entity that carried out the Binance investment. Warren said these actions raise serious questions about whether the president's crypto business interests could influence agency operations and threaten national security. In June, Warren and other senators had already requested hearings on the $500 million World Liberty investment.
Senator Elizabeth Warren has asked the Commerce Department to explain its AI chip export policy toward the United Arab Emirates, after UAE-linked entities invested in Trump-family-backed crypto project World Liberty Financial and Washington subsequently granted the UAE broader access to advanced AI chips. The investments in question total $2.5 billion.
In a letter to Commerce Secretary Howard Lutnick, Warren cited a $500 million investment made in January by an Abu Dhabi entity into World Liberty. She also flagged a separate $2 billion investment in crypto exchange Binance, which was carried out by UAE-affiliated company MGX using World Liberty's USD1 stablecoin.
The Commerce Department had earlier reclassified the UAE into Country Group A:5, a category that gives the country wider access to license-free exports, including advanced chips. The department has also said it would "actively review" license applications for chip and server exports to MGX, the entity behind the $2 billion Binance investment.
Warren said the actions raise serious questions about whether the president's crypto business interests could affect federal agency operations and threaten national security. In June, Warren and several other senators already demanded hearings on the $500 million World Liberty deal.
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