Last year, a government official and senior royal family member in the United Arab Emirates bought a $500 million stake in the Trump family’s cryptocurrency business, months before the Trump administration approved the sale of advanced artificial intelligence chips to the UAE. “Wall Street Journal” reports Saturday.

Sheikh Tahnoon bin Zayed Al Nahyan – also known as the “Spy Sheik” – is the Gulf state’s national security adviser and manager of its largest wealth fund. Tahnoon-backed company Aryam Investment holds a 49% stake world free financeAccording to the Wall Street Journal. According to the Wall Street Journal, the deal will make Aryam the largest shareholder in World Liberty and the company’s only known investor besides its founders.

World freedom behind Stablecoin 1 USDpegged to the U.S. dollar and backed by short-term U.S. government securities, U.S. dollar deposits and other cash equivalents.

Number of company presidents Donald Trump and his envoy Steve Witkoff as honorary co-founders, it is run by members of the Trump and Witkoff families.

According to the Wall Street Journal, the deal was financed by Eric Trump days before his father’s second inauguration as president. At the same time, Tanu is seeking to obtain advanced artificial intelligence chips from the United States, but the Biden administration has blocked this plan due to concerns that the chips will end up in China.

According to the Wall Street Journal, approximately $187 million went to Trump family entities and $31 million to Witkoff family entities under the agreement.

In May, months after Tahnoon struck a deal with World Liberty, the U.S. agree Allowing the UAE to purchase hundreds of thousands of advanced artificial intelligence chips from U.S. chipmakers NVIDIA. The agreement calls for a fifth of the chips to be given to Tahnoon’s own artificial intelligence company, G42.

The Journal report prompted new scrutiny of the Trump administration’s dealings with the UAE and Tannoon, with some members of Congress warning of potential conflicts of interest or corruption.

“This is corruption, plain and simple,” said Sen. Elizabeth Warren, D-Mass., the top Democrat on the Senate Banking Committee. “The Trump administration must reverse its decision to sell sensitive artificial intelligence chips to the United Arab Emirates.”

Warren called on Witkoff, White House AI and cryptocurrency czar David Sacks, and Commerce Secretary Howard Lutnick “to testify before Congress that they betrayed U.S. national security to benefit the president’s cryptocurrency company and to explain whether any officials enriched themselves in the process.”

White House spokesperson Anna Kelly told the Wall Street Journal that “there is no conflict of interest.” She added that Witkoff was working to “advance President Trump’s goals for world peace.”

The White House did not immediately respond to CNBC’s request for comment.

Deputy Attorney General Todd Branch also defended the president on ABC’s “This Week” on Sunday.

“I love it when these newspapers talk about something that’s unprecedented or has never happened before, as if the Biden family and the Biden administration didn’t do the exact same thing and they just came into office,” Branch said.

Republicans and Trump have long accused the Biden family of corruption against the former president Joe BidenThe family’s business dealings abroad. Although a impeachment inquiry Despite a House investigation into the matter, evidence of Biden’s wrongdoing never emerged.

“I have no comment on this other than that President Trump has been completely transparent when it comes to his family traveling for business reasons,” Branch said. “This idea that there is something unpleasant or unprecedented is just a repeated story and not fact.”

Read the full WSJ story here.