US President Donald Trump has reportedly denied any knowledge of a reported $500 million investment by an Abu Dhabi royal into World Liberty Financial (WLFI). His comments come as the deal draws increased scrutiny over potential foreign influence and involvement of the president’s relatives in business ventures connected to digital assets.
On Monday, Trump stated that he was not involved in the transaction and suggested that his sons were managing the project. “I don’t know about it,” stated the president. Distancing himself from the blockchain project, he added that his family handles it and may receive investments from various sources.
Trump Distances Himself from Abu Dhabi’s WLFI Investment
According to the latest reports, US President Donald Trump rejected claims of his connections to the recent $500 million World Liberty Financial investment. He stated that he did not know about the deal. His comments aimed at distancing himself from the $500 million deal from Abu Dhabi, which has raised questions about foreign involvement and business activities linked to his family.
When asked about the investment on Monday, Trump stated that he was unaware of it and that his sons were managing the project. He noted,
“I don’t know about it. My sons are handling that — my family is handling it,” he added. “I guess they get investments from different people.”
Unveiling the Details of the $500M Abu Dhabi Deal
According to a recent report by The Wall Street Journal, Sheikh Tahnoon bin Zayed Al Nahyan, a senior member of the royal family of the UAE, agreed to buy a 49% stake in WLFI, the crypto project linked to Donald Trump and his family. Just days before Trump’s presidential inauguration, the royal member announced his plans for the $500 million plan. The WSJ report cited the company documents and sources familiar with the matter.
The $500 million investment in WLFI was reportedly made through Aryam Investment 1, a firm backed by Sheikh Tahnoon. While he has made an initial payment of $250 million, $187 million of it went to entities linked to the Trump family, and $31 million to a company connected to WLFI co-founders Zak Folkman and Chase Herro. If the deal is completed as announced, Aryam will become the largest shareholder in WLFI.
Rising Scrutiny over Trump’s Crypto Ties
Significantly, the reported deal has sparked concerns among lawmakers and political leaders about how WLFI is governed and the role of foreign money in a business closely tied to the president. Critics argue that such investments could create conflicts of interest, especially when overseas figures gain significant influence in ventures tied to the president’s family.
The controversy has fueled broader criticism of Trump’s crypto ventures, particularly from Democrats. In January, Senator Elizabeth Warren called on federal banking regulators to halt WLFI’s approach to obtaining a US bank charter until Trump divested his stake. She cited concerns over ethics and foreign influence.
However, the regulators ultimately rejected the Senator’s request. They cited that the WLFI application would be reviewed under the same strict standards as any other platform. They also stated that the political connections will not influence their decision.
