MGX

Warren Demands Explanation for UAE Tech Access

Sen. Elizabeth Warren asked Commerce Secretary Howard Lutnick to explain the administration’s July decision to move the United Arab Emirates into a more permissive export-control category (Country Group A:5), which streamlines access to certain sensitive U.S. technology. Warren’s letter cites reported investments — including $500 million into World Liberty Financial and a $2 billion Binance investment completed using a World Liberty stablecoin — linked to Sheikh Tahnoon bin Zayed Al Nahyan, who chairs G42 and MGX. Warren requested Commerce’s national-security analysis, whether other agencies raised concerns about technology reaching China or Iran, and called for Lutnick and Jeffrey Kessler (head of the Bureau of Industry and Security) to testify. Commerce says the change recognizes the UAE as a major U.S. defense partner and maintains restrictions remain to prevent prohibited transfers.

Federal employees can download TikTok again

The U.S. Department of Justice has said federal employees may now download TikTok onto government devices, reporting that a 2022 law that had banned the app on those devices no longer applies. The change follows a deal that transferred ownership of TikTok’s U.S. operations to a joint venture backed by Oracle, Silver Lake and MGX; Oracle will serve as the joint venture’s security partner while previous owner ByteDance retains a 19.9% stake. The DOJ memo says President Donald Trump cleared "employees of Executive Branch agencies" to download TikTok on official devices, subject to each agency’s discretion and applicable workplace policies. The article also notes that an earlier, broader U.S. ban had briefly taken the app offline before service was restored amid delays and legal/political actions.

U.S. Eases Export Controls for UAE, Warren Objects

The U.S. Commerce Department moved to ease export controls on the United Arab Emirates, saying it will "favorably review" export license applications involving UAE-backed investment firm MGX and providing license exceptions for certain advanced-computing equipment to the UAE, G42 and Core42. The unpublished rule would also streamline treatment for some controlled equipment used by major tech companies in UAE data-center projects. Sen. Elizabeth Warren called the provision "corrupt," citing MGX’s use of USD1, a stablecoin issued by World Liberty Financial tied to the Trump family, and demanded testimony from Commerce Secretary Howard Lutnick and BIS Under Secretary Jeffrey Kessler. The rule is scheduled for official publication on July 14, 2026.