$2 billion UAE crypto deal tied to Trump faces review

Close-up editorial collage of Senators Elizabeth Warren and Elissa Slotkin with neutral expressions, centered against a bright backdrop blending a glowing blue AI chip and radiant gold crypto coin motifs, faint UAE skyline and desert dunes in the distance, warm-cool color contrast, clean high-key lighting, crisp modern style.

Two Democratic senators asked inspectors general to investigate two United Arab Emirates deals tied to Trump administration officials. They raised ethics questions about a chip export plan and a $2 billion crypto investment.

Calls for investigations and the deals at issue

Senator Elizabeth Warren and Senator Elissa Slotkin sent a letter to acting inspectors general at the Commerce and State Departments. They also sent it to the Office of Government Ethics.

According to The New York Times, the request followed a Times investigation last week into two Trump-era transactions with Emirati royals. The senators wrote that the “pattern of these transactions is deeply troubling.”

One deal involved a plan to let the Emirates import American-designed artificial intelligence computer chips. White House staff raised national security concerns about that plan, the Times reported.

The other deal involved a government-backed Emirati firm that sent $2 billion to a cryptocurrency company. The company was created by the Trumps and the family of Steve Witkoff, an adviser.

Ethics questions around Steve Witkoff and responses

Role, timing, and official response

Steve Witkoff served as a State Department employee for the first six months of this year. He then transferred to a White House job.

The senators asked whether any officials violated ethics rules tied to these transactions. They directed their questions to oversight offices at State, Commerce, and the Office of Government Ethics.

David Warrington, the White House counsel, responded in a statement to the Times. He said, “Mr. Witkoff, like all administration officials, takes seriously his compliance with the government ethics rules.”

The Times linked the senators’ letter to its reporting on the deals. The letter asked inspectors general to review conduct by Trump administration officials related to the Emirati chip and crypto agreements.

The Times attributed the chip deal to a United States plan that faced internal concerns. It also described the $2 billion crypto investment by a government-backed Emirati firm into a company tied to the Trumps and Witkoff’s family.

The senators’ letter seeks clarity on ethics compliance during the approval and funding of these deals. It cites the potential influence of Emirati royals and the involvement of current or former officials.

The New York Times reported the request for inquiries on Sept. 24, 2025, and linked to the senators’ document.

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