UAE investor who bought half of Trump crypto firm gets green light to buy US AI chips as critics slam ‘corrupt deal’
Critics are attacking the Trump administration for a deal to let the United Arab Emirates access cutting-edge U.S. technology, accusing the White House of offering the country preferential treatment because a U.A.E. royal invested millions in a Trump family cryptocurrency company last year.
The Commerce Department announced on Friday that it will allow the U.S. ally license-free access to crucial technology such as AI chips. That status will extend to U.A.E. companies such as G42, which is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser.
Four days before President Trump’s inauguration, another Tahnoon-backed company reportedly spent $500 million to buy what was initially a secret 49 percent stake in World Liberty Financial, the Trump family’s fledgling crypto firm. The deal reportedly sent an immediate $187 million to Trump entities and helped fuel the family’s crypto empire.
Democratic Sen. Elizabeth Warren called the change in Commerce Department e..
