‘Stop covering up for this president!’: Rep. Meeks clashes with Treasury Sec. over Trump foreign investor

Congressman Gregory Meeks pressed Treasury Secretary Scott Bessent during a hearing, asking the Trump official about the United Arab Emirates buying a $500 million stake in the president’s crypto business.

Things got testy on Capitol Hill during a hearing with Treasury Secretary Scott Bessent, in which the Trump Cabinet official got into a shouting match with U.S. Rep. Gregory Meeks.

Bessent testified before the U.S. House Committee on Financial Services on Wednesday to discuss the annual report of the Financial Stability Oversight Council. Rep. Meeks, a Democrat from New York, used his time to question Bessent about a recent report that an investment firm tied to the United Arab Emirates acquired nearly half of the Trump family’s cryptocurrency company, World Liberty Financial. The stake is reportedly worth $500 million.

Congressman Meeks called out the potential conflict of interest, describing it as a threat to national security.

“This is no longer just about a shady crypto deal, or a possible gift, when a foreign-linked investor is putting hundreds of millions of dollars into a company controlled by the president’s family. And, at the same time, this president is conducting foreign policy with that country. You know what that creates? It creates a national security concern,” said Meeks, who urged Secretary Bessent to pause and “heighten the scrutiny” of any bank charter or licensing application at the Office of the Comptroller of the Currency (OCC) for Trump’s crypto business.

Meeks urged the Treasury Secretary to ensure there are no conflicts of interest or foreign influence and to share the Treasury’s findings with Congress.

“All I need to know is, will you halt it and do a complete investigation and scrutiny of this license application?” asked Meeks.

As Bessent began to answer, Meeks interrupted him, asserting, “All you have to do is say yes or no.” From there, the two leaders got into a testy exchange, in which Bessent accused the New York congressman of lobbying on behalf of a donor during a 2006 trip to Venezuela.

“I take that as a no. You do not want to answer that question…I’m asking you to do your responsibility,” said Meeks.

As the two continued to talk over each other and as Rep. Meeks’s time of questioning expired, the congressman yelled, “Stop covering up for this president! Stop being his flunky!”

The questions surrounding the UAE-linked investments into the Trump family’s cryptocurrency business have raised continued alarms about the Trump family enriching itself while President Trump conducts domestic and foreign policy with the wealthy and powerful. According to the Center for American Progress, the Trump family has pocketed $1.8 trillion since Trump was re-elected in 2024.

When asked about the potential UAE conflict of interest during a White House press conference in the Oval Office on Monday, President Trump said, “Well, I don’t know about it…My sons are handling that.”

Trump added, “I guess they get investments from different people…I don’t know exactly, other than, you know, I’m a big crypto person. I’m the one that probably helped crypto more than anybody, because I believe in it.”