UAE-Linked Investment Firm Acquires Major Stake in Trump Family Crypto Company

Washington D.C. An investment company linked to the United Arab Emirates (UAE) has purchased a large stake in US President Donald Trump's family crypto company. According to CNN, the company bought 49 percent of World Liberty Financial for $500 million. According to The Wall Street Journal, the deal was signed by President's son Eric Trump four days before Trump's second inauguration.

The purchasing group is reportedly affiliated with Sheikh Tahnoun bin Zayed Al Nahyan, an influential royal member of the UAE. According to documents, $187 million of the initial payment went to the Trump family company. At least $31 million went to companies held under the name of Steve Witkoff's family. This deal raises new questions about potential conflicts of interest for the Trump administration.

However, the White House dismissed the allegations, stating that Trump's assets are managed through a trust and there is no conflict. Witkoff, the special envoy for the Middle East, stated that he has separated himself from the company and that his government work is not linked to any financial interests.

A spokesperson for World Liberty Financial claimed that neither Trump nor Witkoff were involved in the deal. Furthermore, the spokesperson asserted that the allegation linking this deal to US AI chip policy is completely false. The company insists the decision was made purely on a business basis.