Warren Slams US Decision on UAE Access to AI Tech After $500M Crypto Deal

Senator Elizabeth Warren has called on Commerce Secretary Howard Lutnick to explain why the US made it easier for UAE firms to access advanced American AI technology. The decision was announced just after a UAE-linked entity acquired a 49% stake in World Liberty Financial, a crypto venture tied to the Trump family, for $500 million.

The deal saw $187 million wired upfront to Trump family entities, with Warren estimating that this represents a personal windfall of $263 million for Trump. Her calculations put his total earnings from crypto ventures at approximately $1.4 billion.

Warren has also demanded testimony from Jeffrey Kessler, the Bureau of Industry and Security's Under Secretary, citing concerns about national security vulnerabilities. She's urged Congress not to pass crypto legislation that would allow presidential families to profit from digital asset ventures.

The issue is related to export controls on advanced semiconductors and AI technology, which were tightened during the Biden administration. The US maintains strict controls to prevent adversaries and strategic competitors from building capabilities that could threaten American interests.