Senator Warren Criticizes Trump-Linked $2B UAE Crypto Deal as ’Shady,’ Opposes Senate Legislation

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-05 06:06:02

Senator Elizabeth Warren has intensified her scrutiny of a $2 billion stablecoin deal involving former President Donald Trump and a United Arab Emirates-based firm, calling it "shady" and warning of potential corruption risks. The deal, which propelled a Trump-affiliated stablecoin to become the seventh-largest globally, has raised concerns about foreign government influence in the U.S. crypto market.

Warren is urging senators to reject the GENIUS Act, arguing it lacks safeguards to prevent presidential profiteering from crypto ventures tied to foreign entities. Her objections highlight growing tensions between regulatory oversight and the crypto industry’s expansion.

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