A U.S. House investigation is probing whether World Liberty Financial, a Trump-associated crypto venture, and its dollar-pegged token became entangled with foreign sovereign capital and U.S. technology policy.
The move follows a Wall Street Journal report that an Abu Dhabi-linked entity secretly agreed to buy a 49% stake in World Liberty Financial for $500 Million shortly before President Donald Trump’s inauguration in early 2025.
Rep. Ro Khanna (D-Penn), ranking member of the House Select Committee on the Chinese Communist Party – a temporary U.S. House panel that investigates and studies how China affects U.S. interests – has sent a formal letter demanding ownership records, payment details and internal communications from the company, framing the inquiry around potential conflicts of interest, national-security risks tied to AI chip export controls and the role of World Liberty’s $USD1 stablecoin in a separate $2 Billion Binance investment.
Khanna’s letter asks World Liberty to confirm details of the reported Emirati investment, including whether $187 million flowed to Trump family entities and whether additional payments were made to affiliates of the company’s co-founders.
The House investigation also requested capitalization tables, profit distributions, board appointment records, and due diligence materials tied to Aryam Investment 1, the vehicle identified in press reports.
A significant portion of the inquiry focuses on $USD1, World Liberty’s dollar-pegged stablecoin, which was used to settle MGX’s $2 billion investment in the crypto exchange Binance.
Khanna and lawmakers are seeking documentation on how $USD1 was selected, the revenue generated by the transaction, and whether company personnel were involved in discussions regarding the later presidential pardon of Binance founder Changpeng Zhao.
The House committee also instructs the company to preserve electronic communications and internal compliance policies related to conflicts of interest, export controls, and dealings with entities tied to the United Arab Emirates or China.
World Liberty has until March 1 to deliver the requested records.