A United Arab Emirates (UAE) fund has made a significant $100 million investment in crypto tokens and business ventures linked to former President Donald Trump. This move highlights the deepening financial ties between the Trump family’s business interests and Middle Eastern entities, particularly during Trump’s recent diplomatic visit to the region.
UAE Fund Injects $100 Million into Trump-Linked Crypto and Ventures
An Abu Dhabi-based fund, Aqua1 Foundation, has invested $100 million in World Liberty Financial (WLFI), a cryptocurrency company associated with Donald Trump and his family. This substantial investment makes Aqua1 a larger WLFI token holder than Tron founder Justin Sun, who previously invested $30 million.
This investment aims to accelerate the creation of a blockchain-powered financial ecosystem, focusing on blockchain development, Real World Asset (RWA) tokenization, and stablecoin integration. The goal is to establish new benchmarks for global capital efficiency.
Trump’s Middle East Business Engagements
Donald Trump’s recent diplomatic trip to the Middle East, encompassing the UAE, Qatar, and Saudi Arabia, coincided with a surge in business dealings for the Trump Organization in these nations. These engagements have raised ethical concerns regarding potential conflicts of interest, given Trump’s political standing.
Key developments include:
- United Arab Emirates: The Trump Organization announced the development of an 80-story Trump International Hotel & Tower in Dubai, in partnership with Dar Global. This adds to the existing Trump International Golf Club in Dubai.
- Qatar: A Trump International Golf Club Simaisma is planned outside Doha, a collaboration with Dar Global and Qatari Diar, a state-owned real estate firm. This deal has drawn scrutiny due to the Trump Organization’s commitment to limit new business with foreign governments.
- Saudi Arabia: The Trump Organization has several projects, including a 47-story Trump Tower in Jeddah and two other real estate developments in Riyadh, all in partnership with Dar Global.
Crypto Ventures Under Scrutiny
World Liberty Financial, with its strong ties to the Trump family, has faced increasing scrutiny from U.S. lawmakers. Donald Trump himself disclosed $57.4 million in income tied to WLFI and holds 15.75 billion governance tokens.
Concerns escalated when Eric Trump announced that MGX, an Abu Dhabi-based investment company, would use WLFI’s USD1 stablecoin to settle a $2 billion investment in Binance. This move, amidst ongoing discussions in Congress about stablecoin regulation, has led to questions about potential benefits for the Trump family’s business interests from future legislation.
U.S. Attorney General Pam Bondi sidestepped questions regarding the president’s connections to World Liberty Financial during a Senate Appropriations Committee hearing, further fueling concerns about foreign influence and potential conflicts of interest.
Sources
- Crown Prince of Abu Dhabi and US President participate in UAE–US Business Dialogue, UAE Embassy in Washington, DC.
- UAE fund buys $100 million of Trump’s World Liberty tokens, Business Post.
- UAE Company Invests $100M In Trump Family-Backed Crypto Business, Cointelegraph.
- Trump Is Visiting 3 Countries Where His Family Business Made Recent Deals, Business Insider.
- Donald Trump updates: US president ends Middle East tour with more deals | Donald Trump News, Al Jazeera.
