Senate Democrats have called for hearings on the national security risks posed by President Donald Trump’s cryptocurrency holdings, citing new disclosures that unnamed third parties own a stake in his family’s cryptocurrency company.
The July 10 statement was issued by senior members of five Senate committees. They asked their committees to study whether the United Arab Emirates or unknown investors had influence on the president’s decisions.
Disclosures about Trump’s cryptocurrency holdings are fueling a new push for oversight
The lawmakers are Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden. Each serves as the top Democrat on a committee with jurisdiction over financial, security or judicial matters.
Their statement came in response to Trump’s latest federal financial disclosures. The senators said the Trump family’s cryptocurrency projects generated about $1.4 billion in the first year of his second term.
The BeInCrypto report showed Trump coin meme He earned approximately $636 million, While World Liberty Financial (WLFI) added about $515 million in token sales and $65 million in shares.
The senators noted that the dossier listed unnamed “third parties” with a stake in WLF. These details followed reports that a UAE-linked company had purchased a 49% stake for approximately $500 million.
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Democrats link holdings to policy moves
The senators said the disclosures deepen concerns about Trump shaping cryptocurrency policy while profiting from the sector. They pointed to legislative movements and moves to facilitate oversight of digital assets.
The lawmakers also pointed to the dissolution of the Department of Justice’s National Cryptocurrency Enforcement Team. They portrayed the move as evidence of poor implementation.
“We call on our relevant committees to hold hearings to investigate the national security implications of President Trump’s cryptocurrency holdings, including the influence of the United Arab Emirates or unknown third parties on President Trump’s actions.” statement He reads.
Demand builds on June Asked by the same senators Regarding reported relationships between World Liberty Financial and Abu Dhabi. In a statement shared with BeInCrypto, the White House denied any connection between the UAE AI agreement and the cryptocurrency company, saying Trump’s assets are held in a fund managed by his children.
Whether Republican committee chairs agree to hold the hearings will determine whether the dispute advances beyond the data stage.
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