Could 13, 2025
Trump and His Family Will Earn Thousands and thousands from United Arab Emirates-Linked Crypto Deal as The Administration is Set to Approve Gross sales of U.S. AI Chips to Emirati Agency With China Ties
Trump Center East Journey Comes Days After Republicans Tried to Jam By means of GENIUS Act with No Primary Protections in opposition to the President’s Crypto Corruption.
Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), rating member of the Senate Banking, Housing, and City Affairs Committee, and Chris Van Hollen (D-Md.), a member of the Committee, despatched a letter to President Trump expressing deep concern over the timing of his journey to the Center East, warning that his private monetary entanglements with international governments threaten to undermine U.S. nationwide safety.
“Your stopover within the United Arab Emirates, the place you’ll reportedly seal a deal stress-free export controls on delicate U.S. know-how, is poised to showcase a brand new stage of grifting – and it’ll come instantly on the expense of U.S. nationwide safety,” the Senators wrote.
Within the letter the lawmakers urged President Trump to divest from USD1 and any associated monetary pursuits earlier than negotiating with international governments that would use the stablecoin to affect U.S. coverage. However simply hours after the letter was despatched, The New York Instances reported that the Trump Administration is contemplating a serious deal to promote superior U.S. AI chips to G42 — an Emirati agency with deep ties to the UAE’s surveillance equipment and a historical past of cooperation with the Chinese language authorities. That is precisely the kind of battle the senators warned about.
On Could 1, Eric Trump introduced a $2 billion transaction between the UAE state-backed MGX and Binance that will probably be routed by the USD1 stablecoin related to the President.
“In essence, WLF – and you and your loved ones by extension – are receiving a minimize of this deal,” wrote the Senators.
They continued: “MGX, Binance, and WLF notably introduced their deal simply days earlier than your deliberate journey to the Center East, offering you and your loved ones with a monetary increase as you ponder key coverage selections with vital implications for the UAE and U.S. nationwide safety… Coincidental or not, MGX’s USD1 funding coincides together with your reported plan to soften U.S. export controls for superior AI chips.”
Within the letter the Senators additionally level to experiences that the Qatari Royal Family plans to give President Trump a luxurious jumbo jet through the journey — elevating much more crimson flags concerning the potential for corrupt monetary affect. However corruption is just the start of the issue: promoting massive clusters of superior AI chips to a rustic with shut ties to the Chinese language authorities dangers supercharging surveillance, enabling bioweapons and cyber warfare, and eroding America’s technological edge.
“Promoting these chips to the UAE shouldn’t be in our curiosity. But you seem poised to minimize a deal that undercuts our nationwide curiosity in pursuit of private acquire,” emphasised the Senators. “This journey seems to be a case examine in how international governments might now search to curry your favor: through the use of your stablecoin for large crypto transactions and showering you with extravagant presents,” the senators warned.
This all comes simply days after Republicans tried to ram by the GENIUS Act — laws that might broaden the stablecoin market with out essentially the most primary protections in opposition to the President’s conflicts of curiosity or international corruption.
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