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Warren demands answers on UAE AI chip access tied to Trump crypto
The Commerce Department moved the UAE to Country Group A:5, which includes greater access to license-free exports such as advanced chips.
Senator Elizabeth Warren has reportedly asked the US Commerce Department to explain its policy toward the United Arab Emirates after the country and UAE linked entities invested in President Donald Trump’s family-backed cryptocurrency venture, World Liberty Financial, according to Cointelegraph citing CNBC.
Cointelegraph reports that Warren sent a letter to Commerce Secretary Howard Lutnick seeking answers on why the US government gave the UAE greater access to AI chips after two investments tied to the Trump crypto business. An Abu Dhabi entity backed by Sheikh Tahnoon bin Zayed Al Nahyan reportedly invested $500 million in World Liberty Financial in January, and another UAE-linked company reportedly made a $2 billion investment in crypto exchange Binance using World Liberty’s USD1 stablecoin.
Cointelegraph says Warren raised concerns that the Commerce Department’s actions could reflect possible influence from the President’s cryptocurrency business interests on agency operations and national security. The outlet adds that the Commerce Department changed the UAE’s categorization to Country Group A:5, which provides more access to license-free exports, including advanced chips.
According to Cointelegraph, the department also said it would favorably review license applications involving chips and servers to MGX, the UAE entity linked to the $2 billion Binance investment, and the probe is described as part of Democratic lawmakers’ broader efforts to examine potential influence from foreign crypto investments.