Senator Elizabeth Warren has launched a scathing critique of a $2 billion deal between a UAE investment firm and crypto giant Binance, claiming it funnels profits directly to former President Donald Trump via his stablecoin venture.
In a sharply worded public statement, Warren described the deal as “shady,” alleging that the Abu Dhabi-based firm and Binance plan to use Trump’s own stablecoin to finance the transaction—an arrangement that would effectively grant Trump a cut of the $2 billion through transaction fees and asset-backed profits.
“Boy, looks like corruption, smells like corruption,” Warren said. “So yeah, the Senate is going to put a stop to it, right? Wrong.”
Warren’s remarks came as the Senate prepares to vote on the Genius Act, a bill she argues will “greenlight the graft” by making it easier for U.S. presidents and their families to issue and profit from stablecoins. She warned that the legislation would allow Trump to:
- Earn fees on every transaction involving his stablecoin.
- Receive profits from foreign entities using the coin, raising national security concerns.
- Collect earnings from the assets backing the coin, effectively granting him interest-free loans from corporate and foreign players.
“Donald Trump promised lower costs for Americans. Instead, he’s running grafts to make more money for himself,” Warren said, warning that the bill, if passed unamended, would entrench financial conflicts of interest at the highest level of government.
She called on lawmakers to reject the legislation unless it is revised to block such self-dealing, adding:
“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.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/senator-warren-slams-trumps-2b-uae-crypto-deal-calls-it-corruption-in-plain-sight/