Based on reports, Senators Elizabeth Warren and Elissa Slotkin have asked three federal agencies to open probes into what they call a troubling $2 billion crypto transaction linked to US President Donald Trump’s family.
The senators say Sacks, who advises on AI and crypto, and Witkoff, a special envoy to the Middle East, were involved in a complex deal that connected Abu Dhabi’s MGX, Binance, and a stablecoin called USD1.
Lawmakers want to know who negotiated which terms, and whether any official acts or policy pushes were influenced by private gain tied to that token.
Warren and Slotkin argue the case raises serious national security questions. They wrote that certain officials appear to have pushed for policy changes that would make advanced US AI technology more accessible to the UAE.
The senators warned that “no place in the US government” should be found for mixing official duties with private business interests. They also said that until answers arrive, Congress should be wary of any rules that could benefit politically connected crypto players.
Senator Warren has said she supports clearer rules for digital assets but will oppose measures “written by the crypto industry.”
Slotkin echoed that view, urging clarity before moving on market reforms and stressing that lawmakers must be sure crypto money is not shaping national security choices.
Featured image from Getty Images, chart from TradingView
