The White House denied that the Trump administration’s artificial intelligence agreement with the United Arab Emirates had any connection to World Liberty Financial.
This comes after Senate Democrats called for hearings In the Trump family-backed cryptocurrency company’s reported ties to Abu Dhabi.
In comments provided to BeInCrypto, White House spokeswoman Anna Kelly said that the UAE AI agreement aims to deepen the strategic technology partnership between Washington and Abu Dhabi.
“The Trump administration’s historic agreement is designed to strengthen the US-UAE AI partnership to ensure the global AI ecosystem is built using American chips and using American models, all while ensuring significant Emirati investment in the United States,” Kelly said.
Democrats are pushing for hearings
Five Senate Democrats asked Republican committee chairs this week to hold hearings on global cryptocurrency deals, World Liberty Financial linked to Trump, his family, and special envoy Steve Witkoff.
The request followed reports that an investment vehicle linked to the UAE had agreed to buy a 49% stake in World Liberty Financial for approximately $500 million shortly before Trump returned to office.
The timing raises questions about whether foreign-linked funds flowing into a Trump family cryptocurrency project are interfering with subsequent US policy decisions related to the UAE, the lawmakers said.
The White House rejected this connection directly.
“This has everything to do with what is best for the United States and nothing to do with World Liberty Financial — President Trump’s assets are in a fund managed by his children, and Special Envoy Witkoff has fully divested from the company,” White House spokeswoman Anna Kelly said.
The White House says the artificial intelligence deal serves American interests
The White House framed the UAE agreement as a national security and industrial policy move, rather than a private trade matter.
Kelly said the agreement “contains historic commitments by the UAE to continue aligning its national security systems with the United States, including strong protections to prevent the diversion of US-origin technology.”
This point goes to the center of the conflict.
Democrats say the UAE’s role in World Liberty Financial deserves scrutiny because the administration later approved sensitive technology and political benefits related to Abu Dhabi.
The White House says the artificial intelligence agreement strengthened American strategic interests and included guarantees for American technology.
Questions of ethics remain at the center
White House counsel David Warrington also rejected the suggestion that Trump’s private business interests influenced official policy.
“The President has no business dealings that would affect his constitutional responsibilities,” Warrington said. “President Trump is performing his constitutional duties in a morally sound manner, and to suggest otherwise is either uninformed or malicious.”
World Liberty Financial has become a political flashpoint because it sits at the intersection of cryptocurrencies, foreign capital, and the Trump family’s business interests.
The UAE-linked investment has drawn attention because Abu Dhabi has also played an increasing role in artificial intelligence, semiconductors and digital assets. UAE-backed MGX was separately linked to a $2 billion Binance deal that used World Liberty Financial’s USD1 stablecoin.
Democrats have used these links to argue that Congress should examine whether foreign actors have gained influence through cryptocurrency-related transactions.
The White House says the argument is politically motivated.
“These Democrats are intent on promoting the same tired narrative they have used to attack President Trump, his family, and his administration for a decade, even after Americans rejected their lies by re-electing the president to office,” Kelly said.
Witkopf denies his role in the G42 talks
Senators also focused on Steve Witkoff, Trump’s special peace envoy, because of his family’s connection to World Liberty Financial.
Warrington said Witkoff complied with ethics rules and moved away from the company.
“Mr. Witkoff, like all administration officials, takes very seriously his compliance with government ethics rules. As a special envoy for peace missions, he is not and has not been involved in any official matters that could affect his financial interests. He has also drawn down World Liberty Financial, despite his ability and willingness to resign,” Warrington said.
A source close to Witkoff, speaking on background, said his children run World Liberty Financial and that he has no role in the company.
The source said: “Steve’s sons run World Liberty Financial. Steve has nothing to do with it. He started the business one year before the presidential election. As we have said many times, Steve was not involved in the negotiations related to the G42. He was only briefed on these discussions, which is entirely appropriate given his role at the time as special envoy to the Middle East. Like President Trump, all of Special Envoy Witkoff’s actions were in the interests of the American people.”
Comments leave the underlying conflict unresolved.
Democrats want sworn testimony and committee hearings on whether World Liberty Financial’s foreign-related deals created conflicts within the administration.
The White House says the UAE AI agreement has no connection to the company, and that Trump and Witkoff are separate from relevant business interests.
For now, the battle has moved from the cryptocurrency markets to congressional oversight.
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