Warren Asks Commerce Dept: Show Me the AI Chips, Hide Me the Crypto Receipts �

Senator Elizabeth Warren has asked the US Commerce Department to explain its policy toward the United Arab Emirates following the country's investments in President Donald Trump's family-backed cryptocurrency venture, World Liberty Financial. According to a Wednesday CNBC report, Warren sent a letter to Commerce Secretary Howard Lutnick requesting clarification on the US government giving the UAE greater access to advanced AI chips after two investments linked the country to the Trump family's crypto business.

The Massachusetts lawmaker cited two transactions: an Abu Dhabi entity backed by Sheikh Tahnoon bin Zayed Al Nahyan that reportedly made a $500 million investment in World Liberty Financial in January, and a separate company linked to the UAE that settled a $2 billion investment in crypto exchange Binance using World Liberty Financial's USD1 stablecoin. "The Department's actions raise significant questions about the potential influence the President's cryptocurrency business interests may be having on the agency's operations and our national security," Warren said, according to CNBC.

Warren's letter followed a Commerce Department decision to reclassify the UAE into Country Group A:5, granting the country broader license-free export access that includes advanced semiconductors. The department also said it would "favorably review" license applications involving chips and servers for MGX, the UAE entity involved in the $2 billion Binance investment.

The inquiry is part of a broader Democratic effort to examine potential foreign influence over US crypto policy. In June, a group of senators including Warren called for hearings into the $500 million World Liberty Financial deal. Lawmakers have also raised questions about Trump's pardon of former Binance CEO Changpeng Zhao.