Senators Demand Answers from Witkoff on Crypto Holdings
Eight Senate Democrats have sent a letter to Steve Witkoff, President Donald Trump’s special envoy to the Middle East, requesting detailed information on his crypto asset ownership and ties to the crypto firm World Liberty Financial (WLFI).
According to the letter, Witkoff’s latest ethics disclosure filed on August 13, 2025 shows he retains ownership interests in WLFI and other crypto-related entities despite earlier statements he would divest such holdings. The senators argue this raises “serious questions” about whether he is in compliance with federal ethics laws and whether his public duties could be influenced by his private investments.
Central Concerns: Crypto Ties and Diplomatic Role
The letter focuses on several key issues:
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Witkoff continues to hold stakes in WLFI as well as in WC Digital Fi LLC, WC Digital SC LLC and SC Financial Technologies LLC—all crypto-related entities tied to him and his family.
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His diplomatic role in the Middle East coincides with WLFI business dealings in the same region, including a reported $2 billion investment from a UAE firm shortly before U.S. government technology negotiations with the UAE.
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The senators have asked Witkoff to respond by October 31, 2025, providing documents and disclosures that clarify his asset holdings, any ethics waivers, and any involvement in decisions that may benefit his holdings.
Broader Implications for Ethics and Crypto Policy
The inquiry highlights growing scrutiny of how public officials engage with crypto assets, especially when personal business interests overlap with public responsibilities. Critics say the situation underscores the need for clearer ethics rules around digital assets and foreign investments linked to political figures.
The controversy follows earlier concerns about WLFI itself: the crypto venture co-founded by Trump and Witkoff has faced questions about foreign investment, token launches and transparency.
What Happens Next
Witkoff now faces congressional questions and may need to provide detailed asset disclosures, ethics waivers, and a timeline of divestment. The outcome could affect his ability to serve as an envoy while holding significant crypto investments.
As Americans watch how crypto and policy intersect, this case could influence future regulation of digital assets and the standards applied to public officials who participate in the industry.
