Ro Khanna launches investigation into Trump family dealings with Emirati entities

WASHINGTON, Feb. 06 (YPA) – US Representative Ro Khanna, the top Democrat on the House Select Committee on China, has launched an investigation into a deal made by a digital currency company owned by former President Donald Trump’s family with an investment firm linked to a senior Emirati official.

 In a formal letter, Khanna requested details about a $500 million investment made by Sheikh Tahnoun bin Zayed Al Nahyan in January last year, shortly before Donald Trump officially took office.

According to media reports, the deal granted the Emirati side a 49% stake in the cryptocurrency project World Liberty Financial, launched by Trump, Steve Witkoff, and their children in late 2024. Witkoff currently serves as the US Special Envoy to the Middle East, raising questions about potential conflicts of interest—particularly after the Trump administration approved the export of 500,000 advanced AI chips to the UAE.

Khanna stressed in his letter that export controls are complex, and emphasized that “subordinating strategic policy to personal financial interests is unacceptable.”

The letter also points to a separate MGX investment of $2 billion into Binance that used World Liberty Financial’s USD1 stablecoin for settlement, a move Khanna said likely boosted revenues tied to the firm.

Meanwhile, congressional hearings have seen clashes between Democratic lawmakers and administration officials.

Representative Gregory Meeks stated that pumping hundreds of millions into a company controlled by the president’s family is a national security concern.

Senator Elizabeth Warren called for a reversal of AI chip export decisions, describing the situation as “blatant corruption.”

@E.Y.M