Senators set March 5 deadline for Treasury confirmation on whether security review is proceeding
Two U.S. Senators have formally requested Treasury Secretary Scott Bessent to initiate a national security review of a foreign investment transaction.
The request centers on a reported $500 million stake purchase by a UAE-backed entity in World Liberty Financial, a cryptocurrency venture associated with the Trump family.
Senators Elizabeth Warren and Andy Kim raised concerns about potential foreign access to sensitive financial data through the transaction.
The reported agreement grants the UAE-backed investment vehicle approximately 49 percent ownership in World Liberty Financial. This transaction occurred just four days before the presidential inauguration in January 2026.
According to reports, Sheikh Tahnoon bin Zayed Al Nahyan, who serves as the UAE’s national security adviser, backed the investment.
The Wall Street Journal characterized the transaction as unprecedented in American political history. The deal structure reportedly directs $187 million to entities linked to the Trump family.
These entities include DT Marks DEFI LLC and DT Marks SC LLC. The investment makes the foreign fund the largest shareholder in the cryptocurrency platform.
Under the reported terms, two of five board seats would go to executives who also hold positions at G42. This company, associated with Sheikh Tahnoon, has previously faced scrutiny from U.S. intelligence agencies. The dual roles have prompted questions about potential conflicts and foreign influence.
The Senators highlighted World Liberty Financial’s privacy policy in their correspondence. The platform acknowledges collecting wallet addresses, device identifiers, and IP addresses from users. Additionally, the company gathers approximate location data inferred from IP addresses.
Service providers working with World Liberty Financial may collect additional sensitive identifiers. These include driver’s license numbers and passport information. The platform may receive this information through its partnerships and operational activities.
Furthermore, World Liberty Financial has applied for a trust bank charter. The company has stated its goal of creating
This move could expand the company’s access to financial information from U.S. citizens. The combination of sensitive data collection and significant foreign ownership has triggered national security considerations.
The Committee on Foreign Investment in the United States typically reviews transactions involving foreign control of U.S. businesses.
The committee also examines investments that could provide foreign entities access to sensitive personal data. Warren and Kim requested confirmation about whether the transaction received proper review.
The Senators set a March 5, 2026 deadline for Treasury’s response. Their letter includes six specific questions about the review process. These questions address whether the transaction qualified as a covered transaction requiring examination.
