A recent investigation by The Wall Street Journal has revealed a previously undisclosed $500 million investment into World Liberty Financial (WLFI) — a cryptocurrency venture closely linked to the Trump family — that took place at a politically sensitive moment and raises serious questions about conflicts of interest and foreign influence.
What Happened? A Secret Investment Before Inauguration
According to WSJ reporting, in January 2025 — just four days before President Donald J. Trump’s second inauguration — an Abu Dhabi‑based investment vehicle named Aryam Investment 1 agreed to buy a 49% stake in World Liberty Financial for $500 million.
The investment was not publicly disclosed at the time. Documents reviewed by the Journal show that:
- $250 million was paid upfront as part of the agreement.
- Of that sum, about $187 million was transferred directly to Trump‑linked entities — specifically DT Marks DEFI LLC and DT Marks SC LLC, which are controlled by family companies tied to Trump and his adult children.
- Smaller amounts — roughly $31 million each — went to companies connected to co‑founders of WLFI, including the family of Steve Witkoff and business partners Zak Folkman and Chase Herro.
The balance of the investment — the remaining $250 million — was scheduled to be paid later in the year.
Who Is Behind the Purchase? “Spy Chief” and the UAE
The buyer’s backer was Sheikh Tahnoon bin Zayed Al Nahyan, a powerful member of the Abu Dhabi royal family who serves as the United Arab Emirates’ national security adviser and oversees major state‑linked investment vehicles. Due to his dual role in intelligence and finance, some U.S. analysts and outlets refer to him as the “spy sheikh.”
Sheikh Tahnoon’s influence extends beyond WLFI — he is deeply involved in the UAE’s push into artificial intelligence (AI), overseeing firms such as G42, and has for years sought access to advanced U.S. AI chips. Under the Trump administration, the UAE secured new permissions to buy state‑of‑the‑art AI chips — despite previous restrictions under President Biden — after meetings between Tahnoon and U.S. officials.
Political and Ethical Concerns
Critics argue that the timing and circumstances of the deal present potential conflicts of interest:
- The transaction occurred while Donald Trump was ascending to power, just days before the public transition.
- A foreign state‑linked investor acquired a nearly half‑ownership stake in a company financially tied to the sitting U.S. president’s family.
- The investment coincided with U.S. policy decisions that benefited the UAE in high‑tech sectors, particularly the approval of sales of advanced AI chips.
Legal and ethics specialists have warned that such arrangements could violate the U.S. Constitution’s foreign emoluments clause and create the appearance — or even the reality — of foreign governments leveraging economic ties to shape U.S. policy.
Defenses and Denials
Both World Liberty Financial and the White House have denied wrongdoing. Company representatives told media outlets that President Trump was no longer involved in the startup’s operations after taking office and that the business was privately managed by family trusts and executives. Officials also emphasized that Trump did not directly negotiate the deal or influence U.S. foreign policy in exchange for investment.
Broader Implications for Crypto and Governance
The investment highlights broader concerns about the intersection of politics, finance, and emerging technologies:
- World Liberty Financial is behind the WLFI token, a digital asset that has drawn significant investor interest — but also volatility and criticism over governance and transparency.
The deal suggests how state‑linked capital from the Middle East is becoming deeply intertwined with Western tech and finance, potentially creating new geopolitical pressures.
