Senate Democrats have demanded committee hearings into the national security risks posed by President Donald Trump’s crypto holdings, citing new disclosures that unnamed third parties hold a stake in his family’s crypto firm.

The July 10 statement was issued by the ranking members of five Senate committees. They asked their respective panels to examine whether the United Arab Emirates or unknown investors hold influence over the President’s decisions.

Trump’s Crypto Holdings Disclosures Fuel Fresh Oversight Push

The lawmakers are Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden. Each serves as the top Democrat on a committee with jurisdiction over finance, security, or the judiciary.

Their statement responded to Trump’s latest federal financial disclosures. The senators said that the Trump family’s crypto ventures generated about $1.4 billion in the first year of his second term.

BeInCrypto’s report showed Trump’s meme coin earned roughly $636 million, while World Liberty Financial (WLFI) added about $515 million from token sales and $65 million from equity.

The senators noted that the filing listed unnamed “Third Parties” holding a WLF stake. That detail followed reports of a UAE-linked vehicle buying a 49% stake for roughly $500 million.

Democrats Link Holdings to Policy Moves

The senators argued the disclosures deepen concerns about Trump shaping crypto policy while profiting from the sector. They pointed to legislative pushes and moves to ease oversight of digital assets.

The lawmakers also cited the disbanding of the Justice Department’s National Cryptocurrency Enforcement Team. They framed that step as evidence of weakened enforcement.

“We call on our respective Committees to hold hearings to investigate the national security implications of President Trump’s cryptocurrency holdings, including the influence of the UAE or unknown third parties on President Trump’s actions,” the statement read.

The demand builds on a June request from the same senators regarding World Liberty Financial’s reported ties to Abu Dhabi. In a statement shared with BeInCrypto, the White House denied any link between its UAE artificial intelligence agreement and the crypto firm, saying that Trump’s assets are held in a trust run by his children.

Whether Republican committee chairs grant the hearings will determine if the dispute advances beyond statements.

Source: BeInCrypto