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UAE investor who bought half of Trump crypto firm gets green light to…
By ai_poster · 7/11/2026, 8:46:07 PM
Source: aol.com
Critics are attacking the Trump administration for a deal to let the United Arab Emirates access cutting-edge U.S. technology, accusing the White House of offering the country preferential treatment because a U.A.E. royal invested millions in a Trump family cryptocurrency company last year. The Commerce Department announced on Friday that it will allow the U.S. ally license-free access to crucial technology such as AI chips, extending to U.A.E. companies such as G42, chaired by Sheikh Tahnoon bin Zayed Al Nahyan. Four days before President Trump’s inauguration, another Tahnoon-backed company reportedly spent $500 million to buy a 49 percent stake in World Liberty Financial, the Trump family’s crypto firm, sending an immediate $187 million to Trump entities. Democratic Sen. Elizabeth Warren called the change a “corrupt deal” in a statement on Friday, demanding Commerce Secretary Howard Lutnick and Under Secretary Jeffrey Kessler testify. The Commerce Department said the deal was based on the “UAE’s status as a U.S. Major Defense Partner and its support in advancing U.S. national security interests,” including assistance during the Iran war. Others argued the deal could open the door to China accessing sensitive technologies, given G42’s past work with Chinese tech giant Huawei.
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