Senate Democrats have called on Steve Witkoff, President Donald Trump’s special envoy to the Middle East, to provide more details about his personal cryptocurrency holdings, raising questions about a potential conflict of interest.
Led by Senator Adam Schiff (D-CA) and eight senators required Witkoff explains why his recent ethics revelation revealed ongoing stakes in cryptocurrency linked to Trump and other cryptocurrency-related business entities.
“Your failure to divest these assets raises serious questions about your compliance with federal ethics laws and, more importantly, your ability to serve the American people at the expense of your own financial interests,” the senators wrote in the letter.
Zach Witkoff co-founded World Liberty Financial with members of the Trump family in 2024. Zach Witkoff, Donald Trump Jr., Eric Trump, and Barron Trump are listed as founders.
Steve Witkoff and Donald Trump are listed as “emeritus co-founders” and are not actively involved in day-to-day operations.
The company said in May that Witkoff was exiting the venture entirely.
While he has since sold a $120 million stake in his real estate company, his most recent ethics disclosure, dated August 13, Pointing He still owns World Liberty Financial’s cryptocurrency, as well as shares in WC Digital Fi LLC — an entity linked to Witkoff and his family — and parts of two other cryptocurrency-related companies, WC Digital SC LLC and SC Financial Technologies LLC.
Democrats argue that Witkoff’s ongoing business interests could create a conflict of interest, especially given his diplomatic role in the Middle East and the business ties between World Liberty Financial and the United Arab Emirates.
The investigation follows the New York Times investigation The revelation of Witkoff’s involvement in a multi-billion-dollar artificial intelligence project between the United States and the United Arab Emirates coincided with World Liberty Financial negotiating its own multi-billion-dollar deal with an Emirati government projects company.
In May, the United States signed an agreement to build the largest AI campus outside the United States, while two weeks ago it signed a World Liberty Financial agreement Announce A $2 billion investment from the UAE government company MGX was paid into cryptocurrency exchange Binance with its stablecoin of $1 USD.
luck He was the first to report this news.
Coinbase CEO discusses cryptocurrencies in DC
Coinbase CEO Brian Armstrong is travel To Washington, D.C. today to meet with Democrats, Republicans, and Senate White House officials to discuss the ongoing cryptocurrency market structure.
Momentum for market structure clarity is “at an all-time high,” Armstrong said, noting bipartisan commitment to legislation even amid the government shutdown.
He stressed the need to work to get the bill to President Trump’s desk, highlighting ongoing efforts to provide clarity and oversight of the cryptocurrency industry.
The post Senators Probe For Answers On Trump’s Crypto Dealings first appeared on Investorempires.com.
