Senate Democrats Probe Trump Envoy's Crypto Ties

Eight Senate Democrats led by Sen. Adam Schiff have demanded that Steve Witkoff, President Trump’s special envoy to the Middle East, explain why his Aug. 13 ethics filing still lists ownership stakes in World Liberty Financial and related crypto entities despite prior promises to divest. Lawmakers say those holdings may violate federal ethics rules and pose conflicts because WLF has business ties to the United Arab Emirates, including a reported $2 billion MGX investment in Binance paid in WLF’s USD1 stablecoin. Scrutiny intensified after reports that Witkoff participated in concurrent U.S.-UAE AI negotiations, raising national-security and public-trust concerns that his financial interests could influence diplomacy. Witkoff has sold a $120 million stake in his real estate firm and WLF says he is “in the process” of divesting, but his filing still lists crypto assets and he was given until Oct. 31 to respond to the senators. Some Democrats urged further investigation, and White House and WLF spokespeople did not immediately comment.