Senators Elizabeth Warren and Elissa Slotkin are demanding an ethics investigation into recent crypto dealings linked to officials in the Trump administration. Their concerns center on a series of transactions involving White House adviser Steve Witkoff and David Sacks, who served as the administration’s AI and crypto czar. At issue are two interconnected deals: first, the U.S. allowed the UAE to import advanced American AI computer chips; second, an Emirati government-backed investment firm injected $2 billion into World Liberty Financial, a crypto project controlled by the Trump family and Witkoff’s relatives.

The senators’ request, delivered in a formal letter to ethics authorities, urges an examination of whether these officials violated government ethics rules. Warren and Slotkin argue that these maneuvers may have benefited Trump’s associates and family while posing national security risks, especially given the UAE’s ties to China. They underscore that transactions such as these—where chip exports and crypto investments overlap—are troubling and warrant full scrutiny.

Further intensifying their stance, Warren and Slotkin stress that they will not support pending digital asset legislation until these possible conflicts of interest are clarified. Their votes could prove pivotal as Congress debates new regulations for the crypto market.

The probe is part of broader congressional scrutiny of Trump’s crypto ventures. Previous inquiries have revealed that the Trump family retains significant control and profit from World Liberty Financial, sparking calls for more transparency and safeguards. Legislative efforts like the COIN Act seek to bar presidents and executive officials from promoting or issuing specific cryptocurrencies while in office.

As pressure mounts, the outcome of these ethics investigations may influence not only future crypto policy but also the standards for government officials engaging in emerging digital markets.