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 issues over a possible battle of curiosity.
Based on 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 produce the UAE with extremely coveted American-made AI chips regardless of the prior administration’s concern that they could 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 by way of Getty Pictures
“We made the deal in query as a result of we strongly imagine that it was what was greatest for our firm as we proceed to develop. The concept, when elevating capital, a privately-held American firm ought to be held to some distinctive normal that no different comparable firm can be held is each ridiculous and un-American,” the assertion continued.
David Warrington, the White Home counsel, informed ABC Information in a press release that “the President has no involvement in enterprise offers that might implicate his constitutional tasks,” and that “President Trump performs his constitutional duties in an ethically sound method and to counsel 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 known as MGX introduced final Might that it could use a digital token minted by World Liberty Monetary to finance a $2 billion funding in a crypto change Binance, a serious 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 supply the UAE with the chips, which energy a number of the most subtle weapons on the planet, for concern they is likely to be redirected into China.
Peter Wildeford, the pinnacle of coverage on the AI Coverage Community, a nonpartisan advocacy group, warned that would 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 might be capable to launch cyberattacks in opposition to the U.S., they may construct autonomous weapons that would discover and sink our Navy ships — they may shut the army expertise hole that is at the moment protecting us secure,” he stated.
World Liberty has emerged as maybe probably the most profitable of the Trump household’s numerous 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.
Based on 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 fee of as a lot as $187 million into the Trump household’s coffers on the eve of his return to workplace.
Ethics consultants stated the idea of a international authorities official secretly directing a whole lot of hundreds of thousands of {dollars} to an organization owned partially by the president has no identified precedent — and raises a number of moral and nationwide safety issues.
This file photograph exhibits Donald Trump Jr., Eric Trump and Zach Witkoff, co-founder and CEO of World Liberty Monetary, outdoors the Nasdaq constructing in New York Metropolis, U.S., on Aug. 13, 2025.
Eduardo Munoz/Reuters
“Perhaps 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,” stated Robert Weissman, the co-president of the advocacy group Public Citizen. “However we have no approach to know that, and we do know there was a whole lot of 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 one of the best pursuits of the American public,” and stated that no battle of curiosity exists partially as a result of the president’s property are held in a blind belief managed by his kids. Sometimes, a blind belief would function with an unbiased trustee.
“President Trump’s property are in a belief managed by his kids,” Kelly added. “There aren’t 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 nations are bribing our president to promote out the American individuals,” Sen. Chris Van Hollen, D-Md., claimed in a put up to X.
Shortly earlier than the chips deal was introduced final Might, a UAE-backed funding agency known as MGX stated it could use a digital token minted by World Liberty Monetary to finance a $2 billion funding in a crypto change Binance. Tahnoon additionally serves as MGX’s chairman.
MGX can be one of many few firms with a serious 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.
