'Corruption on a Breathtaking Level': Report Details Massive Foreign Investment in Trump Crypto Firm [View all]

"A bombshell Saturday report from the Wall Street Journal revealed that a member of the Abu Dhabi royal family secretly backed a massive $500 million investment into the Trump family’s cryptocurrency venture months before the Trump administration gave the United Arab Emirates access to highly sensitive artificial intelligence chip technology."

"According to the Journal’s sources, lieutenants of Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan signed a deal in early 2025 to buy a 49% stake in World Liberty Financial, the startup founded by members of the Trump family and the family of Trump Middle East envoy Steve Witkoff."

"Documents reviewed by the Journal showed that the buyers in the deal agreed to 'pay half up front, steering $187 million to Trump family entities,' while 'at least $31 million was also slated to flow to entities affiliated with' the Witkoff family."

"Weeks after green lighting the investment into the Trump crypto venture, Tahnoon met directly with President Donald Trump and Witkoff in the White House, where he reportedly expressed interest in working with the US on AI-related technology."

"Two months after this, the Journal noted, 'the administration committed to give the tiny Gulf monarchy access to around 500,000 of the most advanced AI chips a year—enough to build one of the world’s biggest AI data center clusters.' "

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https://www.commondreams.org/news/trump-uae-crypto-investment