- A UAE-linked entity agreed to buy a 49% stake in World Liberty Financial, a Trump-linked crypto firm, for $500 million just days before Donald Trump‘s 2025 inauguration.
- Roughly $187 million from the deal reportedly flowed to Trump family entities, while more than $31 million went to Witkoff family-affiliated entities.
- The transaction preceded a Trump administration policy shift granting the UAE expanded access to advanced U.S. AI chips that were restricted under Biden.
- Senator Elizabeth Warren called the arrangement “corruption, plain and simple” and demanded a reversal of the chip sale.
A UAE-backed investment vehicle linked to Sheikh Tahnoon bin Zayed agreed to purchase a 49% stake in World Liberty Financial for $500 million just four days before President Donald Trump’s 2025 inauguration, according to a Wall Street Journal report. This deal, signed by Eric Trump, made the UAE entity the crypto firm’s largest outside shareholder.
Consequently, an estimated $187 million of the proceeds reportedly went to Trump family entities. At least $31 million additionally flowed to entities affiliated with the Witkoff family, as detailed by the Journal.
This massive investment preceded a significant U.S. policy shift under the new administration. Shortly after, the Trump government approved an expansion of UAE access to advanced American AI semiconductors, which had been restricted.
Senator Elizabeth Warren, in a statement to Decrypt, called the situation blatant corruption and demanded a reversal of the chip decision. She insisted that officials, including Steve Witkoff and David Sacks, must testify before Congress on potential conflicts of interest.
Warren and others had previously pushed for probes into Trump family crypto dealings, following an earlier request on whether officials capitalized on foreign crypto deals.
Some critics warned the arrangement resembles a policy access subscription, not an arm’s-length transaction. Public affairs attorney Andrew Rossow noted the tight four-day window before inauguration is a major red flag for investigators.
He suggested the transaction could be seen as a disguised gift, potentially bypassing campaign finance laws. Furthermore, legal principles like the Foreign Emoluments Clause could apply if benefits from a foreign state were accepted.
The deal continues to fuel debate as Congress works on crypto market structure legislation. However, bipartisan negotiations have been reportedly complicated by the Trump family’s financial ventures in the sector.
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