A UAE-linked firm has taken nearly a majority stake in Trump’s crypto firm, raising major questions about political connections and business deals.
The company has purchased a 49% stake, worth around $500 million, in the Trump family’s cryptocurrency company just four days before President Donald Trump’s second inauguration, according to The Wall Street Journal.
According to media reports, the company has ties to Sheikh Tahnoon, who previously had pushed the U.S. for access to advanced AI chips, implying a connection to the investment.
However, World Liberty co-founder Wachsman strongly denied any link, telling CNN that the claims were “100% false.
Eric Trump signs deal for Trump-linked crypto venture
The deal was signed by Eric Trump and involved World Liberty Financial, the crypto venture co-founded by Trump family members along with Steve Witkoff, who has served as the president’s top envoy to the Middle East.
The investment gave the UAE-linked company almost half ownership of the business, showing how foreign money is involved in a high-profile crypto project that is closely linked to the president’s family.
However, the bigger question now remains if the investment comes as a by-product of the AI deal. It also raises questions about potential conflicts of interest related to politicians linked to big crypto projects.
UAE-linked buyers paid $187 million to Trump family in crypto deal
According to The Wall Street Journal, the buyers, who are associates of Sheikh Tahnoon bin Zayed Al Nahyan, UAE royal and national security adviser, paid $187 million to Trump family entities upfront and at least $31 million to the Witkoff family.
The White House, however, sought to quell concerns, shrugging off any connections. Spokesperson Anna Kelly said President Trump’s assets are held in a trust managed by his children, asserting there are no conflicts of interest.
White House counsel David Warrington also emphasized that Steve Witkoff, co-founder of the venture, has divested from the company and recused himself from related government matters.
WLFI deal: Terms and conditions
As part of the deal, two senior executives from firms linked to Sheikh Tahnoon joined the board of World Liberty Financial.
World Liberty Financial’s new governance token, WLFI, has been a part of the firm’s major crypto offerings.
While Donald Trump and Steve Witkoff are now listed as emeritus co-founders, their sons remain actively involved, promoting the company internationally.
The announcement comes as Trump continues to press the case for the U.S. to become the “crypto capital of the planet,” a sign of continued involvement and aspiration on the part of the Trump family with regard to expanding the company’s global crypto presence.