The U.S. House of Representatives investigation is looking into whether Trump-linked cryptocurrency venture World Liberty Financial and its dollar-pegged tokens were embroiled in foreign sovereign capital and U.S. technology policy.
The move follows a Wall Street Journal report that an Abu Dhabi-linked company secretly agreed to buy a 49% stake in World Liberty Financial for $500 million just before President Donald Trump took office in early 2025.
Rep. Ro Khanna (D-Pa.), the ranking member of the House Select Committee on the Chinese Communist Party, an ad hoc U.S. House committee that investigates how China affects U.S. national interests, framed the investigation around potential conflicts of interest, national security risks associated with export restrictions on AI chips, and World Liberty’s role, and sent a formal letter to the company requesting ownership records, payment details, and internal communications. $USD1 The stablecoin will be included in a separate $2 billion investment in Binance.
Khanna’s letter asks World Liberty to confirm details of the reported Emirati investments, including whether $187 million went to Trump family entities and whether any additional payments were made to affiliates of the company’s co-founders.
The House inquiry also requested capital statements, profit distributions, board appointment records, and due diligence documents related to Ayam Investment 1, the entity identified in the report.
The majority of the research focuses on $USD1World Liberty’s dollar-pegged stablecoin was used to settle MGX’s $2 billion investment in crypto exchange Binance.
Mr. Khanna and his fellow lawmakers are seeking documentation on how to do that. $USD1 was selected, the proceeds generated from that transaction, and whether company officials were involved in discussions regarding Binance founder Qiao Changpeng’s subsequent presidential pardon.
The House committee also directed the company to maintain electronic communications and internal compliance policies related to conflicts of interest, export controls, and transactions with entities with ties to the United Arab Emirates and China.
World Liberty has until March 1 to provide the requested records.
