The U.S. Senate is calling for an investigation into the UAE's $500 million investment in Trump's crypto business

In the U.S. Senate, Democratic Party representatives are calling for a hearing on secret investments in “World Liberty Financial,” a cryptocurrency project linked to Donald Trump’s family. 

A foreign company linked to the head of intelligence in the United Arab Emirates signed a $500 million deal just days before the president’s inauguration. 

Lawmakers are concerned that, just a few months after signing this contract to purchase a 49% stake in the firm, the Trump administration granted the UAE access to cutting-edge American artificial intelligence chips. Senators point to an obvious conflict of interest, as the secret transaction generated at least $187 million in direct profits for entities affiliated with the Trump family. Lawmakers also raised additional suspicions regarding the idea of issuing dollar bills featuring the image of the current U.S. president, which is currently being reviewed by the U.S. Department of the Treasury for legality.

This was reported by the American financial publication The Wall Street Journal.