Senator Elizabeth Warren, Democrat from Massachusetts and ranking member of the Senate Banking, Housing and Urban Affairs Committee, speaks to members of the media after a confirmation hearing in Washington on June 25, 2026.
Graeme Sloane Bloomberg | getty images
Five top Senate Democrats on Friday renewed calls for a hearing on President Donald Trump’s cryptocurrency holdings, including questions about his new financial disclosures and foreign and unidentified investors in his family’s crypto business.
Democrats called on Republican-controlled committees, where they serve as ranking members, to examine any national security implications raised by Trump’s revelations for 2025, which became public on June 30.
“President Trump’s new financial disclosures reveal that the Trump family’s crypto ventures generated the bulk of his income – nearly $1.4 billion in the first year of his second term alone,” the senators said in a letter.
The senators are Senator Elizabeth Warren of Massachusetts; Richard Blumenthal of Connecticut; Gary Peters of Michigan; Dick Durbin of Illinois; and Ron Wyden of Oregon.
Their concerns focus on World Liberty Financial, the Trump family crypto venture that generated millions of dollars in income for the president.
A group linked to UAE National Security Advisor Sheikh Tahnoun bin Zayed Al Nahyan has reportedly bought a 49% stake in the company. The senators’ letter references that reporting.
The letter also points to Trump’s disclosure of a list of unnamed “third parties” and calls for an investigation into whether the UAE or other financial backers have influenced his administration’s policy.
The White House and World Liberty did not immediately respond to requests for comment on the letter.
The push from lawmakers for the hearing comes days before senators return to Washington.
CNBC’s analysis of Trump’s 927-page annual financial disclosures found that he reported revenues of at least $2.24 billion in 2025.
The filing showed more than $580 million in crypto-related income, including about $515 million from the World Liberty token sale and $65 million from the sale of equity in its holding company. Trump also reported royalties of $635 million from “Celebration Coins”, which are linked to his meme coin business.
Trump defended his venture in a CNBC interview at the White House last week, saying there was “nothing illegal” or “wrong” about it.
“I tell my kids to stay as far away as you can, but they have a life too,” Trump said.
Trump said his son Eric Trump oversees his assets and outside companies manage his investments.
The White House has repeatedly said Trump’s assets are held in a trust managed by his children and that his business interests do not pose a conflict.
The Democrats’ move Friday builds on earlier efforts by the party to investigate World Liberty’s foreign ties.
Rep. Ro Khanna, D-Calif., launched a House investigation in February into the reported UAE investment, seeking records about the transaction and whether it was linked to changes in U.S. restrictions on advanced AI chip exports.
At that time, World Liberty had rejected Khanna’s investigation as politically motivated.
In June, Democratic senators demanded a hearing about reports that UAE officials paid $218 million to entities linked to the Trump family and the family of Steve Witkoff, the US special envoy to the Middle East.
He also questioned whether the deal influenced subsequent decisions by the administration related to the sale of AI chips and weapons to the UAE.
Republicans, who hold majorities in the Senate and House, did not schedule any hearings in response to Democrats’ requests.