Recently, two U.S. senators, Elizabeth Warren and Andy Kim, have urged the Treasury Department to look into a $500 million investment from the UAE in a cryptocurrency enterprise connected to Donald Trump. This request comes amid national security concerns regarding foreign influence and management of sensitive financial information.

In a letter sent to Treasury Secretary Scott Bessent, dated Friday, the senators expressed the need for the Committee on Foreign Investment in the United States (CFIUS) to investigate a reported deal where a UAE-backed entity intended to acquire a 49% stake in World Liberty Financial (WLFI), thus becoming its largest shareholder. They noted this acquisition aligns with Trump’s inauguration timeframe and insisted on confirming whether CFIUS was properly notified.

This investment is purportedly linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser. Furthermore, $187 million from this deal was reported to be funneled to entities associated with the Trump family, which raised significant red flags for the lawmakers.

In their letter, the senators warned that the structure of this deal could lead to foreign interference in a U.S. company that handles sensitive financial and personal information. They highlighted the company’s privacy practices, which involve collecting user data such as wallet addresses and identity records.

CFIUS is responsible for assessing foreign investments that could potentially jeopardize sensitive technologies or access to personal data of American citizens. The senators requested timely information from the Treasury, with a deadline of March 5.

This is not the first time Warren has raised concerns regarding Trump-linked business dealings; previously, she and Senator Jack Reed had sought investigations into alleged connections between WLFI’s operations and sanctioned foreign actors.

In related comments, Donald Trump recently stated he was not involved in this particular investment, mentioning that his sons are managing the affairs concerning WLFI. He remarked, “My family is handling it. I guess they get investments from different people.”