Two US Senators Demand Probe into White House Officials Over USD1 Stablecoin, Digital Asset Market Structure Bill

Key Takeaways

• The lawmakers warned that the two White House officials may have compromised U.S. national security by advocating policy changes that align with their undisclosed financial interests.
• The lawmakers describe the actions as “unbridled conflicts of interest” and accuse the officials of using public office to advance their private business connections. 

Two key US Senators Elizabeth Warren and Elissa Slotkin have called on federal inspectors general to launch an investigation into two senior White House officials, David Sacks and Steve Witkoff, over alleged conflicts of interest tied to the United Arab Emirates, semiconductor exports, and cryptocurrency.

In a letter sent on September 23, 2025, the lawmakers warned that the officials may have compromised U.S. national security by advocating policy changes that align with their undisclosed financial interests.

The senators allege that Witkoff failed to recuse himself from matters concerning the UAE despite personal and family ties to World Liberty Financial (WLF), a company that recently received a $2 billion investment from MGX, a UAE state-owned entity controlled by Sheikh Tahnoon, the country’s national security advisor.

The investment was conducted through USD1, a stablecoin issued by WLF, which the senators argue could generate substantial fees and returns for the firm. Witkoff’s son, Zach, serves as CEO of WLF, and reports indicate that the Trump family holds a majority stake in the company. 

“In the history of our country’s foreign policy, one is hard-pressed to find two senior officials with such significant conflicts of interest involved in decisions regarding national security,” it reads. According to Warren and Slotkin, Witkoff’s indirect stake may allow him to profit personally from the UAE’s investment.

“This information is also critical as Congress considers legislation for digital asset market structure and attempts to ensure that crypto corruption does not undermine our national security,” the letter reads.

The letter also highlights potential conflicts involving Sacks, who remains a general partner in Craft Ventures. The fund is backed by the Abu Dhabi Investment Authority and holds a stake in BitGo, a firm working with WLF to manage USD1. If the UAE’s financial support boosts the stablecoin’s adoption and value, Sacks could benefit financially. The senators argue that these links create a troubling overlap between official policymaking and private profit.

Beyond financial conflicts, Warren and Slotkin contend that both officials pushed to relax U.S. export controls on advanced artificial intelligence systems and to support semiconductor projects in the UAE, including a proposal involving TSMC. They warn that such efforts undermine U.S. national security by creating pathways for sensitive technology to flow to China and by weakening efforts to expand domestic chip manufacturing capacity.

The lawmakers describe the actions as “unbridled conflicts of interest” and accuse the officials of using public office to advance their private business connections. 

Warren is the ranking member of the Senate Banking Committee, while Slotkin is a member of the Senate Agriculture Committee