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Donald Trump and World Liberty Financial Sued Over UAE Crypto Deals
Donald Trump and World Liberty Financial were sued over alleged illegal crypto payments from the UAE.
J. Benjamin Greenberg sued Donald Trump and World Liberty Financial in a Washington federal court on Thursday. The plaintiff alleges the president violated the Foreign Emoluments Clause through a $500 million stake purchase by an entity backed by Sheikh Tahnoon bin Zayed Al Nahyan and a $2 billion stablecoin buy by an Abu Dhabi fund. Greenberg claims these payments harmed Circle Internet Group Inc. investors, while the White House calls the suit politically motivated.
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Donald Trump and World Liberty Financial Sued Over UAE Crypto Deals
Donald Trump and the cryptocurrency venture World Liberty Financial, co-founded with his sons, are facing a lawsuit from a shareholder of a rival firm. The plaintiff alleges that two transactions linked to the United Arab Emirates allowed the president to illegally profit from foreign government payments. The suit claims this violates the Foreign Emoluments Clause, which prohibits presidents from accepting foreign payments without Congressional approval. The lawsuit further alleges that these transactions harmed investors in Circle Internet Group. The legal challenge focuses on the intersection of private crypto ventures and constitutional restrictions on foreign influence.