Senator Warren Slams Trump’s $2B UAE Crypto Deal, Calls It “Corruption in Plain Sight”

Senator Elizabeth Warren has launched a scathing critique of a $2 billion deal between a UAE investment firm and crypto giant Binance

Senator Elizabeth Warren has slammed a $2 billion deal between a UAE investment firm and crypto giant Binance, asserting that it will funnel profits directly to former President Donald Trump via his stablecoin venture.

In a statement on Thursday, Warren described the deal, which is set to be finalized next week, as “shady” and part of the administration's broader effort to “greenlight the graft.”

The Abu Dhabi-based firm, which Warren did not identify, and Binance plan to use Trump’s own stablecoin, currently under development, to finance the transaction, according to the senator. This arrangement would effectively grant Trump a cut of the $2 billion through transaction fees and asset-backed profits.

"Now, usually when we see corruption this plain, the Senate says, 'Boy, looks like corruption, smells like corruption,' and we're going to put a stop to it," Warren said. "But not this time."

Her remarks come as the Senate prepares to vote on the Genius Act, legislation that Warren argues will leave presidents free to "issue and profit" from stablecoins—an action she claims will create a "financial conflict of interest" at the highest level of government.

The bill, if passed unamended, will allow Trump to "extract personal wealth from the U.S. financial system in a brazen abuse of power," she added.

"Donald Trump promised lower costs for Americans. Instead, he's running grafts to make more money for himself," said Warren, ahead of a crucial vote on the bill. "The administration is trying to greenlight the graft with a last-minute change to the bill to make it easier for presidents and their families to issue and profit from cryptocurrencies."

Calling on lawmakers to reject the legislation unless it is revised to block such self-dealing, Warren concluded: "Every senator must vote no or risk aiding and abetting Trump's corruption."

The alleged use of a Trump-linked stablecoin in global finance represents a new frontier in political controversy, blending crypto economics, foreign policy, and presidential ethics.