Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued a statement responding to reporting that a UAE figure described as the “Spy Sheikh” secretly acquired a 49% stake in President Trump’s crypto company. Warren urged the Trump Administration to reverse its decision to sell “sensitive AI chips” to the United Arab Emirates and called for senior officials to testify before Congress. Her statement said the stake was purchased four days before Trump’s inauguration and months before the UAE obtained access to advanced AI chips. Warren named Steve Witkoff, David Sacks, and Secretary of Commerce Howard Lutnick among those she said should appear before Congress to address whether national security decisions were made to benefit the President’s crypto business and whether any officials personally profited; she also noted that in 2025 she and Senator Elissa Slotkin had called for an investigation into foreign crypto deals involving Trump, the Trump family, and senior Administration officials after reporting on links between the Trump family’s cryptocurrency firm and an arrangement providing the UAE access to advanced AI chips.

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