Senate Democrats Call for Hearings Into Trump’s Crypto Holdings and UAE Ties

TLDR

• Five Senate Democrats are calling for hearings into Trump’s crypto holdings and possible foreign influence
• Trump reported around $1.4 billion in crypto-related income in 2025, including from his memecoin and World Liberty Financial
• A UAE-linked group reportedly bought a 49% stake in World Liberty Financial
• Democrats want to know if foreign investors influenced U.S. crypto policy, including the CLARITY Act
• A CBDC ban is set to become law after Trump declined to sign or veto a bipartisan housing bill containing the measure

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Five Senate Democrats are demanding hearings into President Donald Trump’s cryptocurrency holdings, raising questions about foreign influence and national security.

🟡 Exclusive: Top Democrats slam Trump over crypto ahead of vote:

“The disclosures heighten concerns about the president pushing Congress to pass crypto legislation in favor of the very industry he’s cashing in on,” Senators Elizabeth Warren, Richard Blumenthal, Gary Peters,…

— Semafor (@semafor) July 10, 2026

The push came after Trump’s 2025 financial disclosure became public on June 30. It showed he earned at least $2.24 billion in revenue last year, with over $580 million tied to crypto.

That includes around $515 million from World Liberty Financial token sales, $65 million from equity in its holding company, and $635 million in royalties linked to his memecoin business.

The five senators behind the request are Elizabeth Warren of Massachusetts, Richard Blumenthal of Connecticut, Gary Peters of Michigan, Dick Durbin of Illinois, and Ron Wyden of Oregon.

They are ranking members on five Senate committees and subcommittees. As members of the minority party, they cannot hold hearings without Republican support.

UAE Ties at the Center of Concerns

Their letter points to a reported 49% stake in World Liberty Financial purchased by a group tied to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser.

The senators also flagged unidentified “Third Parties” listed in Trump’s disclosure. They want to know whether those parties, or the UAE, had any influence over U.S. policy decisions.

Earlier this year, Rep. Ro Khanna launched a House inquiry into the UAE investment, asking whether it was connected to changes in U.S. restrictions on AI chip exports. World Liberty called that inquiry politically motivated.

Trump defended his earnings in a CNBC interview, saying there was “nothing illegal” about it. He said his son Eric oversees his assets and that outside firms manage his investments.

The White House says Trump’s assets are held in a trust managed by his children and do not create conflicts of interest.

CLARITY Act Timeline Under Pressure

The Democrats’ letter also takes aim at the Digital Asset Market Clarity Act, which the Senate is expected to vote on this month.

Senate rules require 60 votes to break a filibuster, meaning Republicans need some Democratic support to pass the bill.

Some Republicans, like Senator Cynthia Lummis, are pushing for the bill to pass. But Rep. French Hill, who chairs the House Financial Services Committee, admitted Trump’s crypto ties made passing legislation “more complicated.”

Separately, a bill banning the Federal Reserve from issuing a central bank digital currency until December 31, 2030, is set to become law. Trump canceled the signing ceremony but did not veto it, allowing it to pass automatically after 10 days.

Republicans, who control both chambers, have not scheduled hearings in response to Democratic requests.