Former U.S. President Donald Trump has publicly distanced himself from a reported multi-million dollar investment in the cryptocurrency platform World Liberty Financial (WLFI), an entity with strong ties to his family. The revelation, detailed by The Wall Street Journal, involves a significant stake acquired by a prominent member of the Abu Dhabi royal family, sparking renewed debate over foreign influence and political connections within the burgeoning crypto space.
A Royal Investment and Trump Family Connections
According to The Wall Street Journal, Sheikh Tahnoon bin Zayed Al Nahyan, a key figure in the Abu Dhabi royal family of the United Arab Emirates, reportedly acquired a 49% stake in WLFI for $500 million just four days prior to Donald Trump's presidential inauguration. This substantial investment, which would make Aryam Investment 1 (backed by Tahnoon) the largest shareholder, has drawn considerable attention due to Trump's direct involvement as one of WLFI's nine founders, alongside his sons Donald Trump Jr., Eric, and Barron. Documents suggest that from an initial payment of $250 million, a significant $187 million was directed to entities associated with the Trump family, raising immediate questions about potential foreign influence in a U.S. crypto venture linked to a former president.
Navigating Scrutiny and Firm Denials
The report has amplified regulatory and media scrutiny surrounding Donald Trump's connections to the cryptocurrency sector. Previously, Democratic Senator Elizabeth Warren urged the Office of the Comptroller of the Currency to postpone consideration of WLFI's application for a banking license until Trump divested his interest, citing concerns over potential conflicts. However, the regulatory body rejected Warren's plea, asserting that personal political or financial ties would not influence their rigorous procedural review. Despite the mounting questions, Trump has maintained a consistent denial of any direct knowledge of the investment, telling reporters, "I don't know anything about it. My children are handling that; my family is handling it. I suppose they receive investments from different people." A WLFI spokesperson echoed the sentiment that the unique scrutiny applied to their capital raising efforts is both "ridiculous and un-American," arguing it sets an unfair standard for a privately owned American company.
