Sen. Elizabeth Warren, Democrat of Massachusetts and ranking member of the Senate Banking, Housing and Urban Affairs Committee, speaks to members of the media after her confirmation hearing in Washington on June 25, 2026.
Graham Sloan | Bloomberg | Getty Images
Five leading Senate Democrats on Friday renewed calls for a hearing on President Donald Trump’s cryptocurrency holdings, citing new financial disclosures from the president and questions about foreign and unidentified investors in his family’s cryptocurrency business.
Democrats have asked the Republican-led committee, of which they are the ranking member, to investigate the national security implications of President Trump’s 2025 disclosures released on June 30.
“President Trump’s new financial disclosures reveal that the Trump family’s crypto ventures generated a significant portion of his income, approximately $1.4 billion in the first year of his second term alone,” the senators said in the letter.
The senator is Elizabeth Warren of Massachusetts. Richard Blumenthal of Connecticut; Gary Peters of Michigan. Dick Durbin of Illinois. and Ron Wyden of Oregon.
Their concerns center on the Trump family’s cryptocurrency venture, World Liberty Financial, which has generated hundreds of millions of dollars in income for the president.
A group linked to Sheikh Tahnoun bin Zayed Al Nahyan, UAE National Security Adviser, reportedly bought 49% of the company’s shares. The senators’ letter references that report.
The letter also noted that Trump had released a list of unidentified “third parties” and called for an investigation into whether the UAE and other financial backers influenced Trump administration policies.
The White House and World Liberty did not immediately respond to requests for comment on the letter.
The push for the hearing comes days before senators return to Washington.
A CNBC analysis of Trump’s 927 pages of annual financial disclosures found that he reported at least $2.24 billion in income in 2025.
The filing shows more than $580 million in crypto-related revenue, including approximately $515 million from the sale of World Liberty tokens and $65 million from the sale of holding company stock. President Trump also reported $635 million in royalties from “Celebration Coin” related to his meme coin business.
President Trump defended his business in an interview with CNBC from the White House last week, saying there was “nothing illegal” and “it’s wrong.”
“I tell my kids, ‘Stay away from things you can avoid,’ but they have lives, too,” Trump said.
President Trump said his son Eric Trump oversees his assets and that outside companies manage investments.
The White House has repeatedly said that President Trump’s assets are held in trusts controlled by his children and that his business interests do not pose a conflict.
The Democratic Party’s move on Friday builds on the party’s previous efforts to investigate World Liberty’s ties to foreign countries.
Rep. Ro Khanna, D-Calif., launched a House investigation into the reported UAE investment in February, seeking records on the transaction and its connection to changes in U.S. regulations on exports of advanced AI chips.
At the time, World Liberty dismissed Khanna’s investigation as politically motivated.
In June, Democratic senators called for a hearing on reports that UAE officials paid $218 million to groups linked to the Trump family and the family of Steve Witkoff, the U.S. special envoy for the Middle East.
They also questioned whether the deal influenced subsequent administration decisions on AI chips and arms sales to the UAE.
Republicans, who hold majorities in the House and Senate, did not schedule hearings at the request of Democrats.
