Two Democratic senators, Elizabeth Warren and Elissa Slotkin, have formally called for an ethics investigation into potential violations by the Trump administration’s crypto dealings.

Concerns center on two interconnected deals announced in May. One of them is the administration allowing the UAE to import American-designed AI chips, and another where a UAE government-backed firm invested $2 billion into World Liberty Financial, co-founded by Trump and his family along with advisor Steve Witkoff.

Witkoff, who moved from the State Department to a White House role this year, advocated for the chip exports while his family’s firm secured the crypto investment.

This story is an excerpt from the Unchained Daily newsletter.

White House adviser on AI and crypto David Sacks is also implicated for participating in chip deal talks despite conflict of interest worries.

“The pattern of these transactions is deeply troubling and reveals that Mr. Witkoff and Mr. Sacks were in positions to control government decisions to personally enrich themselves even as they created significant national security concerns,” wrote the senators in a letter to the inspectors general of the Commerce and State Departments.

The White House has stated Witkoff is divesting from his holdings and that Sacks has no financial interest in the chip deal, having received an ethics waiver.