In brief
- Senator Elizabeth Warren is labeling a Trump-linked stablecoin deal with the UAE firm “shady.”
- Warren also said the GENIUS Act would let the president profit from crypto tied to foreign governments.
- She has urged senators to vote no unless the bill adds safeguards against abuse.
U.S. Senator Elizabeth Warren (D-MA) has reissued warnings about President Donald Trump and his family’s ties to the crypto industry, cautioning that a recent $2 billion deal backed by the United Arab Emirates could pave the way for “corruption” if the Senate passes new stablecoin legislation.
“The Trump family stablecoin surged to 7th largest in the world because of a shady crypto deal with the United Arab Emirates—a foreign government that…
