Is there a scandal involving UAE chip trading and the WLFI encryption project? New York Times: Trump aides are profiting unscrupulously, and the Democratic Party demands a thorough investigation into corruption.

According to a report by The New York Times, U.S. Senate Democrats Elizabeth Warren and Elissa Slotkin have jointly sent a letter to the Inspectors General of the Department of Commerce and the State Department, requesting an investigation into whether Trump administration officials violated ethical standards in a series of multi-billion dollar transactions with the United Arab Emirates (UAE). (Background: New York Times long article: Digging up Trump's family's "crypto blood profit plan" from the beginning) (Background supplement: Claiming $15 billion! Trump angrily sues The New York Times for defamation: directly leading to TMTG's market capitalization evaporating) According to The New York Times, U.S. Senate Democrats Elizabeth Warren and Elissa Slotkin have jointly sent a letter to the Inspectors General of the Department of Commerce and the State Department, requesting an investigation into whether Trump administration officials violated ethical standards in a series of multi-billion dollar transactions with the United Arab Emirates (UAE). Two transactions are under scrutiny The report states that the senators' request for an investigation stems from an investigative report published by The New York Times last week, which closely examined two significant transactions conducted during the Trump administration with members of the UAE royal family. These transactions, involving large sums of money and national security issues, have raised serious concerns among Congress and ethics lawyers. The first transaction involves the U.S. government's approval of the UAE to import American-designed artificial intelligence computer chips. Despite internal concerns in the White House about the potential threat to national security posed by this transaction, the plan was still pushed forward. The second transaction involved a company supported by the UAE government, which invested $2 billion in World Liberty Financial. This company was co-founded by the Trump family and their advisor Steve Witkoff's family. The report emphasizes that Steve Witkoff served as a State Department employee in the first half of this year before transitioning to a White House position. The New York Times names David Sacks and Steve Witkoff The New York Times further states that its investigation shows that the two transactions announced consecutively in May have undisclosed connections. The investigation focuses on the roles of Witkoff and another White House advisor, David Sacks. Sacks is a special government employee whose part-time status allows him to simultaneously work as a venture capitalist. The investigation found that while Witkoff was promoting chip exports, his family company was receiving cryptocurrency investments from the UAE, and there were concerns within the White House that the close relationship between the UAE and China could jeopardize national security. Additionally, Sacks' involvement in the chip negotiations has also sparked controversy. White House personnel believe it is inappropriate for a government employee still engaged in venture capital to participate in transactions that could benefit his own industry. Although a White House spokesperson denied any connection between the two transactions and stated that Witkoff is working with ethics officials to ensure compliance, Sacks was granted an ethical waiver allowing him to participate in the chip negotiations. The New York Times further stated that three ethics lawyers it interviewed pointed out that Witkoff's role is particularly concerning. As Trump's Middle East envoy, he has a broad scope of duties and has long had close ties with the Trump family. Witkoff and his son, along with the Trump family, co-founded World Liberty Financial, which stands to profit from the $2 billion investment by the UAE. According to its financial disclosure report, the Witkoff family holds tokens worth nearly $800 million in the company, which raises the possibility that their involvement in relevant government decisions could violate federal criminal conflict of interest laws. Prospects of the investigation and political atmosphere The report concludes by stating that it remains unclear whether a formal review of these transactions will occur in the current political environment in Washington. Democrats have repeatedly questioned Trump's business interests, but with limited success. Furthermore, Trump fired the Inspectors General of the State Department and the Department of Commerce in January this year, which could further hinder the progress of the investigation. The report cites statements from Warren and Slotkin in their letter, stating that this "brazen conflict of interest" has no place in the U.S. government. Maryland Democratic Senator Chris Van Hollen also stated that he will use his powers to inquire about the details of the relevant transactions. Democrats are also investigating whether Sacks violated the restrictions on special government employees and have requested the SEC to provide information related to cryptocurrency billionaire Justin Sun, who collaborated with the Trump family. As these controversies continue to escalate, the ethical issues surrounding senior Trump administration officials will remain a focal point of concern for Congress and the public. 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