President Donald Trump’s cryptocurrency agency, World Liberty Monetary, bought a $500 million stake to a member of the Emirati royal household shortly earlier than his inauguration final January, The Wall Street Journal reported on Saturday, sparking considerations over a possible battle of curiosity.
In accordance with the Journal, which reviewed undisclosed company paperwork, a agency related to Sheikh Tahnoon bin Zayed Al Nahyan, an Abu Dhabi royal who operates an infinite state funding fund, bought a 49% stake in World Liberty, which is co-owned by Center East envoy Steve Witkoff and his household, simply 4 days earlier than the Trump administration swept into workplace.
Months later, the Trump administration agreed to provide the UAE with extremely coveted American-made AI chips regardless of the prior administration’s concern that they might fall into the palms of the Chinese language.
David Wachsman, a spokesperson for World Liberty Monetary, acknowledged the existence of the deal in a press release to ABC Information, however insisted that “neither President Trump nor Steve Witkoff had any involvement by any means on this transaction” and that “any declare that this deal had something to do with the Administration’s actions on chips is 100% false.”
{A photograph} exhibits the symbol of the United Arab Emirates on the fence of the Qasr al-Watan presidential palace in Abu Dhabi on Jan. 23, 2026.
Giuseppe Cacace/AFP through Getty Pictures
“We made the deal in query as a result of we strongly consider that it was what was finest for our firm as we proceed to develop. The concept, when elevating capital, a privately-held American firm must be held to some distinctive customary that no different comparable firm can be held is each ridiculous and un-American,” the assertion continued.
David Warrington, the White Home counsel, instructed ABC Information in a press release that “the President has no involvement in enterprise offers that will implicate his constitutional tasks,” and that “President Trump performs his constitutional duties in an ethically sound method and to recommend so in any other case is both ill-informed or malicious.”
However the Journal’s report provides one more wrinkle to the U.S. determination to promote extremely coveted superior chips to the Emiratis.
As ABC Information previously reported, shortly earlier than the chips deal was introduced, a UAE-backed funding agency referred to as MGX introduced final Could that it could use a digital token minted by World Liberty Monetary to finance a $2 billion funding in a crypto alternate Binance, a significant boon for the agency.
Shiekh Tahnoon, who’s the brother of the UAE’s president, also serves as MGX’s chairman.
The Biden administration declined to offer the UAE with the chips, which energy among the most subtle weapons on the planet, for worry they is perhaps redirected into China.
Peter Wildeford, the pinnacle of coverage on the AI Coverage Community, a nonpartisan advocacy group, warned that might shut the U.S.’s benefit within the AI race and compromise American safety.
“If China will get their palms on these chips at scale, they’d be capable of launch cyberattacks towards the U.S., they might construct autonomous weapons that might discover and sink our Navy ships — they might shut the army know-how hole that is presently preserving us secure,” he mentioned.
World Liberty has emerged as maybe probably the most profitable of the Trump household’s varied enterprise ventures, both in cryptocurrency or actual property. ABC Information reported last year that the Trump household secured a roughly $5 billion windfall when buying and selling of World Liberty’s digital token opened.
In accordance with the Journal, Shiekh Tahnoon agreed to pay half of his funding in World Liberty up entrance. Primarily based on the possession construction of the corporate on the time, that meant a cost of as a lot as $187 million into the Trump household’s coffers on the eve of his return to workplace.
Ethics consultants mentioned the idea of a overseas authorities official secretly directing a whole bunch of tens of millions of {dollars} to an organization owned partially by the president has no recognized precedent — and raises a number of moral and nationwide safety considerations.
This file picture exhibits Donald Trump Jr., Eric Trump and Zach Witkoff, co-founder and CEO of World Liberty Monetary, exterior the Nasdaq constructing in New York Metropolis, U.S., on Aug. 13, 2025.
Eduardo Munoz/Reuters
“Possibly the President would have reached the identical determination over the switch of excessive techn [chips] to UAE if he wasn’t additionally getting cash from them,” mentioned Robert Weissman, the co-president of the advocacy group Public Citizen. “However we have no option to know that, and we do know there was numerous opposition inside the federal government to do precisely what he has OK’d.”
White Home spokeswoman Anna Kelly maintained that the president “solely acts in the most effective pursuits of the American public,” and mentioned that no battle of curiosity exists partially as a result of the president’s property are held in a blind belief managed by his youngsters. Usually, a blind belief would function with an impartial trustee.
“President Trump’s property are in a belief managed by his youngsters,” Kelly added. “There are not any conflicts of curiosity.”
The Trump Group didn’t instantly reply to a request for remark.
Congressional Democrats leapt at new particulars within the report, characterizing the transaction as additional proof of alleged pay-for-play. Sen. Chris Murphy, D-Conn., alleged “thoughts blowing corruption,” in a put up to X.
Sen. Elizabeth Warren, D-Mass., issued a press release calling the deal “corruption, plain and easy.”
“Overseas international locations are bribing our president to promote out the American folks,” Sen. Chris Van Hollen, D-Md., claimed in a put up to X.
Shortly earlier than the chips deal was introduced final Could, a UAE-backed funding agency referred to as MGX mentioned it could use a digital token minted by World Liberty Monetary to finance a $2 billion funding in a crypto alternate Binance. Tahnoon additionally serves as MGX’s chairman.
MGX can be one of many few corporations with a significant possession stake within the new TikTok U.S. three way partnership, with a 15% stake within the new entity.
ABC Information’ Selina Wang contributed to this report.
