UAE-linked firm bought 49% stake in Trump family crypto company days before inauguration: Report
&imwidth=600&imheight=450&format=webp&quality=medium "UAE-linked firm bought 49% stake in Trump family crypto company days before inauguration: Report")
Eric Trump Photograph: (AFP)
According to a report, a UAE-linked firm bought a 49% stake in a Trump family crypto company just before Trump’s inauguration, raising conflict-of-interest concerns
An investment company linked to the United Arab Emirates purchased a major stake in a Trump family–linked cryptocurrency venture shortly before Donald Trump started his second term as the president, according to a Wall Street Journal investigation published on Sunday (February 1). The deal granted the Emirati-backed firm a 49% ownership share in World Liberty Financial, a crypto company launched by members of the Trump family alongside relatives of Steve Witkoff, now the administration’s top Middle East envoy. The agreement was finalised just four days before Trump’s inauguration and was signed by Eric Trump, the Journal reported.
Records reviewed by the newspaper show the buyers were associates of Sheikh Tahnoon bin Zayed Al Nahyan, a senior UAE royal, national security adviser, and head of the country’s largest sovereign wealth fund. The investors reportedly paid the full amount upfront, with roughly $187 million flowing to Trump-related entities and at least $31 million going to companies tied to the Witkoff family. The transaction has reignited concerns about potential conflicts of interest involving the president and his inner circle, particularly given the investors' foreign government ties.
The White House has dismissed those concerns, insisting that President Trump has no involvement in the company’s operations and that his assets are held in a trust overseen by his children. A spokesperson stressed that Trump acts solely in the interests of the American public and that no ethical violations exist. Administration officials also said Witkoff has complied with all ethics requirements, does not participate in government decisions affecting his finances, and has divested from World Liberty Financial. His legal counsel said he would recuse himself if necessary.
World Liberty Financial confirmed the investment but said neither Trump nor Witkoff participated in negotiating the deal, and both have since stepped away from the company after entering government service. According to the Journal, two executives affiliated with Sheikh Tahnoon’s business network later joined World Liberty’s board. The report also suggested the investment coincided with UAE efforts to gain US access to advanced artificial intelligence chips, a claim the company strongly denied.
A spokesperson for World Liberty called any link between the investment and US policy decisions “completely false,” accusing critics of promoting unfounded speculation. The company said the partnership was based strictly on business considerations and argued it should not be held to standards different from other private firms. Despite the controversy, the company claims it has expanded significantly since the deal, saying its valuation now exceeds the original investment and placing it among the fastest-growing fintech platforms worldwide.
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