Senators Elizabeth Warren and Jeff Merkley said in a May 5 letter to the U.S. Office of Government Ethics that Trump and his family would make personal profits from investments involving the UAE government-backed company MGX, cryptocurrency exchange Binance, and World Liberty Financial (WLFI), amid growing resistance to efforts to pass cryptocurrency legislation in the U.S. Senate. Senators said the deal amounted to a potential backdoor for foreign influence and self-enrichment, with Trump allies said to receive hundreds of millions of dollars: "This deal raises the troubling prospect that Trump and the Witkov family could expand the use of their stablecoins as a way to profit from foreign corruption."