US President Donald Trump has denied any knowledge of a large $500 million investment by an Abu Dhabi royal in crypto platform World Liberty Financial (WLFI) that is closely linked to his family.
According to Trump, the business is entirely run by family members.
He explained that his children manage the investments and receive funds from various parties, without his direct involvement.
Media reports revealed that Sheikh Tahnoon bin Zayed Al Nahyan bought a 49% stake in WLFI, making it the largest shareholder.
The transaction reportedly took place just four days before Trump was sworn in as president, raising questions about the timing and political implications of the investment.
Most of the investment funds reportedly flowed to entities linked to the Trump family, while the rest went to other founders of WLFI.
The development raises concerns about foreign influence in a US crypto company with close ties to the president.
The issue has also caught the attention of US politicians, with Senator Elizabeth Warren urging that any banking license approval for WLFI be delayed until Trump relinquishes his interest.
However, US banking regulators have insisted that WLFI will be assessed according to standard procedures without political interference.
Despite denials by Trump and WLFI, this large-scale investment continues to be in the spotlight, reflecting how crypto, geopolitics and political power are increasingly intertwined.
