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Donald Trump Distances Himself From Abu Dhabi Royal’s $500 Million Crypto Deal
Key Takeaways
- Donald Trump said he has no knowledge of the $500 million deal between an Abu Dhabi royal and WLFI;
- The purchase happened four days before Trump’s inauguration and involved family-linked firms;
- Aryam Investment became WLFI’s largest shareholder, which raised concerns about foreign control.
US President Donald Trump said he was unaware of a large investment tied to a member of the Abu Dhabi royal family and the World Liberty Financial project, as reported by Bloomberg.
When questioned about the issue, he replied, “I don’t know about it".
He went on to say that his family manages those matters, and added, “My sons are handling that. I guess they get investments from different people".
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Sheikh Tahnoon bin Zayed Al Nahyan bought nearly half of WLFI’s shares, about 49%, for roughly $500 million. The transaction happened four days before President Trump’s inauguration.
The funding came from Aryam Investment 1, which is backed by Sheikh Tahnoon. Its first payment was said to total $250 million, with $187 million directed toward businesses linked to the Trump family.
Another $31 million was sent to a firm connected with two WLFI co-founders, Zak Folkman and Chase Herro.
The deal would make Aryam the largest shareholder in the crypto company. That raised concern among observers about possible foreign influence over a US-based digital asset platform with personal ties to the president.
WLFI was founded by nine people, including President Trump and his sons Donald Trump Jr., Eric Trump, and Barron Trump.
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