- Trump says he has no knowledge of a $500M Abu Dhabi deal tied to crypto firm World Liberty Financial.
- The stake was reportedly agreed upon days before the inauguration, with funds linked to Trump family entities.
- The deal is drawing scrutiny due to diplomatic ties and foreign investment concerns.
President Donald Trump has denied any personal involvement in a reported $500 million cryptocurrency deal between members of his family and an Abu Dhabi royal, saying he was unaware of the transaction.
Trump added that his sons were overseeing the matter. “I guess they get investments from different people.”
Deal Linked to World Liberty Financial
According to a report by Bloomberg, emissaries of Sheikh Tahnoon bin Zayed Al Nahyan reached an agreement with Eric Trump to acquire a 49% stake in crypto venture World Liberty Financial for $500 million.
The deal was reportedly signed four days before Trump’s inauguration last year. An initial $250 million installment was paid, with roughly $187 million directed to Trump family-linked entities, the report said.
The report also noted that at least $31 million was allocated to entities associated with the family of Steve Witkoff, a World Liberty Financial co-founder. Another $31 million reportedly went to an entity tied to the project’s other co-founders, Chase Herro and Zak Folkman.
Diplomatic and Regulatory Questions Raised
The deal has drawn scrutiny due to Sheikh Tahnoon’s close diplomatic ties with the United States and his leadership of Abu Dhabi-based investment firm Group 42 Holding Ltd.
Last year, G42 secured U.S. approval to purchase advanced artificial intelligence chips from companies including Nvidia, Advanced Micro Devices, and Cerebras Systems, following discussions at the White House. This adds to concerns over potential conflicts of interest.
World Liberty Financial Pushes Back
In response to the report, World Liberty Financial spokesperson David Wachsman said neither President Trump nor Steve Witkoff had any involvement in the transaction.
He added that the company acted on its own and pushed back against criticism, calling it unreasonable and un-American to hold a private U.S. company to a special standard when raising capital.
Related: Trump-Linked Firms Hold Over $500M in Crypto: Eric Trump
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Source: https://coinedition.com/trump-says-family-handled-500m-world-liberty-financial-stake-sale/
