Elizabeth Warren Targets $2B Stablecoin Deal Backed by Trump Family

Senator Elizabeth Warren is mobilizing opposition against the GENIUS Act, framing a $2 billion stablecoin venture linked to the Trump family and UAE investors as both a regulatory loophole and geopolitical vulnerability. The World Liberty Financial-issued token, now ranked seventh globally by market cap, gained traction after substantial funding from MGX—a consortium backed by Abu Dhabi’s sovereign wealth and artificial intelligence firm G42.

Bipartisan consensus on the digital asset bill shows signs of fracture, with Democrats increasingly aligning against the legislation despite Republican attempts to salvage it through amendments. Warren’s intervention highlights growing scrutiny of stablecoins’ role in blurring lines between private finance and foreign state actors.