Donald Trump’s second administration has produced no shortage of controversy. But some of the most consequential questions have less to do with his speeches, social-media posts or political feuds and more to do with money.

A September 30 report from The New Republic identified five financial controversies involving Trump, his family or senior figures in his administration that the publication argues warrant congressional investigation.

None of that establishes criminal wrongdoing. But the transactions and overlapping public and private interests raise questions that congressional investigators could attempt to answer through documents, testimony and subpoenas.

1. The UAE, Trump Crypto and American AI Chips

Perhaps the largest potential conflict involves World Liberty Financial, the cryptocurrency venture tied to the Trump family.

Days before Trump returned to the White House in January 2025, an investment company controlled by Sheikh Tahnoon bin Zayed Al Nahyan—the UAE president's brother and national security adviser—agreed to purchase a 49 percent stake in World Liberty Financial for $500 million.

The Trump family holds a substantial financial interest in the company.

Then came another enormous transaction.

In May 2025, MGX, an investment company chaired by Tahnoon, announced that it would use $2 billion worth of World Liberty's USD1 stablecoin for an investment involving cryptocurrency exchange Binance.

Two weeks later, the Trump administration approved expanded UAE access to advanced American AI chips.

The White House has denied that the business transactions influenced the government's decision and has said Trump was not involved in business dealings implicating his presidential responsibilities.

That leaves an obvious question for investigators: Were the financial transactions and the administration's policy decisions completely independent?

Congressional investigators with subpoena power could seek emails, communications, financial records and testimony from the people involved.

2. Trump's Unusual IRS Settlement

Another potential investigation involves Trump's dispute with the Internal Revenue Service.

Trump sued the federal government over the leaking of his tax information. Because Trump was president when his administration dealt with the lawsuit, critics argued that the arrangement created an extraordinary conflict: the president was effectively pursuing a claim against a government controlled by his own administration.

The resulting agreement reportedly included protection involving tax audits and initially included the creation of a $1.8 billion fund intended to compensate people Trump believed had been improperly targeted by the government.

A federal judge later voided the settlements, and the Justice Department rescinded the proposed fund.

But questions remain about what happened inside the IRS.

Were Trump or his businesses under audit?

Were any audits stopped, changed or delayed?

Did political appointees influence decisions involving the president's finances?

Those questions could become the subject of congressional testimony.

3. Pete Hegseth and a Defense Investment Before the Iran War

Defense Secretary Pete Hegseth could face questions of his own.

The Financial Times reported that a Morgan Stanley broker representing Hegseth approached BlackRock about making a multimillion-dollar investment in an exchange-traded fund focused on defense companies shortly before the Iran war.

The Pentagon denied that Hegseth's broker made such an inquiry.

The investment reportedly never occurred.

That distinction matters: there is no completed trade to investigate.

But the timing of the reported inquiry could still invite scrutiny because the secretary of defense possesses highly sensitive information about military operations that can affect defense-company share prices.

Investigators could seek records from Morgan Stanley and BlackRock and determine exactly what was discussed, when it was discussed and who knew what at the time.

4. The $TRUMP Memecoin and Paying for Access

Trump's cryptocurrency ventures present another unusual intersection between presidential power and personal wealth.

Trump's financial disclosure reported hundreds of millions of dollars in licensing income associated with the $TRUMP memecoin.

But investigators may be particularly interested in the contests surrounding the token.

Large holders of $TRUMP were offered access to private events with the president. In 2025, 25 major investors attended a VIP reception. Another group attended a similar event in 2026.

That arrangement creates a question almost unimaginable under previous administrations:

Were people effectively able to purchase access to the president of the United States by buying an asset financially benefiting him?

One especially notable investor was crypto billionaire Justin Sun, who had been charged with fraud by the Securities and Exchange Commission in 2023. The SEC ultimately settled that case in 2026.

That does not prove the investment and settlement were connected.

But it provides investigators with a straightforward question: Did financial dealings involving Trump affect regulatory decisions made by his administration?

5. Jared Kushner: Businessman and Diplomat

Then there is Jared Kushner.

Trump's son-in-law operates Affinity Partners, an investment firm backed heavily by sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates.

At the same time, Kushner has again become involved in American diplomacy, including negotiations concerning the Middle East.

That overlap creates an inherent conflict-of-interest question.

Foreign governments dealing with an American representative may simultaneously have billions of dollars invested in that representative's private business interests.

Reporting this year indicated that Kushner sought billions of dollars in additional investments after becoming involved again in administration diplomacy.

His representatives have denied that U.S. officials would personally profit from proposed diplomatic arrangements.

Congress could nevertheless examine whether Kushner's governmental role and private financial interests remained sufficiently separated.

The Larger Question

Each controversy is different.

Some involve transactions that unquestionably occurred. Others involve allegations that remain disputed. And the existence of a financial conflict does not, by itself, establish bribery, corruption or another crime.

But together they present a larger issue that Congress is equipped to investigate: where does the Trump family's private business empire end and the United States government begin?

The president's family has interests spanning cryptocurrency, investment funds, real estate and other ventures while Trump controls an executive branch capable of influencing regulations, contracts, sanctions, prosecutions and foreign policy.

Those overlapping interests make transparency particularly important.

Congressional investigations do not need to begin with a predetermined verdict. They can begin with documents, bank records, communications and sworn testimony.

If the transactions were legitimate and unrelated to government policy, an investigation can establish that.

If they were not, Congress has the power to find that out too.

The unanswered questions are already there.

What remains to be seen is whether anyone with subpoena power will insist on getting the answers.