Ranking Member Ro Khanna Presses World Liberty Financial for Information on Trump Family Crypto Corruption

WASHINGTON— Today, Representative Ro Khanna (CA-17), Ranking Member of House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (“CCP”), launched an investigation into how conflicts of interest may be influencing U.S. government policies involving our competition with China. In connection with this inquiry, he sent a letter to the Trump Family’s World Liberty Financial (“WLF”), demanding information on the reported $500 million investment deal with United Arab Emirates (“UAE”) Royal Family member Sheikh Tahnoon bin Zayed Al Nahyan. The reported deal may have contributed to changes to U.S. policy intended to prevent the diversion of advanced artificial intelligence chips to China from the UAE, potentially undermining the U.S. ability to outcompete the CCP and raising national security concerns. Regardless of ones views on how to engage with the UAE and handle AI competition with China, it’s wrong to implicate the President’s personal financial interests in policy decisions. The letter also seeks information from World Liberty Financial about its facilitation of a $2 billion investment in a cryptocurrency exchange founded in China by Changpeng Zhao – who recently was pardoned by the President. 

Ranking Member Khanna also sent a letter to Benjamin Wallace, United States Attorney for the District of Delaware, ensuring he is aware one of the Emirati companies involved in the deal is domiciled in his state.

“Our ability to successfully outcompete the Chinese Communist Party depends on the integrity of our policymaking process,” said Ranking Member Khanna. “Congress will not be supine amid this scandal and its unmistakable implications on our national security.”

Read the full text of the letters to WLF here and U.S. Attorney Wallace here.