Warren presses Lutnick on UAE access to US tech after Trump’s $500M crypto deal

Senator Elizabeth Warren wants Commerce Secretary Howard Lutnick to explain why the US just made it easier for UAE firms to access advanced American AI technology, right after a UAE-linked entity dropped $500 million on a crypto company tied to the Trump family. The deal, the decision, and the dollars In January 2026, entities linked to Sheikh Tahnoon bin Zayed Al Nahyan acquired a 49% stake in World Liberty Financial for $500 million. World Liberty Financial is a crypto venture with direct ties to the Trump family. Of that half-billion, $187 million was wired upfront to Trump family entities. On July 10, the Commerce Department announced a favorable review of exports involving MGX, a UAE-based investment firm. That decision effectively eased export controls on advanced AI chips headed to UAE companies including MGX and G42. The senator’s math on Trump’s personal windfall from the arrangement lands at $263 million in financial gains from the World Liberty Financial deal alone. Trump’s total earnings from crypto ventures clock in at approximately $1.4 billion, according to financial disclosures. The stablecoin connection MGX reportedly used USD1, a stablecoin issued by World Liberty...