World Liberty Financial stablecoin cronyism controversy
One page that accretes the verified record as the story develops. Every fact keeps its date and its sources.
UAE 'spy sheikh' backs 49% stake in Trump family crypto bank venture
Tahnoon and other investors invested $500 million in Trump-backed World Liberty Financial in January 2025, receiving a 49% stake in the cryptocurrency company.
Trump's businesses generated at least $59.5 million in foreign licensing revenue during the first year of his second term.
The Trump administration approved chip sales to G42, a state-backed AI company controlled by Tahnoon.
World Liberty Financial CEO defends stablecoin amid cronyism charges
World Liberty Financial operates the USD1 stablecoin.
A group linked to the United Arab Emirates reportedly bought a 49% stake in World Liberty Financial.
Zach Witkoff said he has never talked to the president about business and never will.
Chris Christie compares Trump's $1.4 billion crypto haul to Putin-style corruption
Christie said the Qatari-gifted plane would cost hundreds of millions of dollars to bring up to Air Force One level of operation.
Trump defended his earnings by saying he does not get involved in his personal funds.
Christie said Trump and his family believe they are entitled to their profits.
“They believe, when they came back and won this election the second time, that that gave them license, that the American people gave them license to essentially go and take whatever they could take over this period of time. And, quite frankly, you know, when you look at the scale of this, here’s another thing apparently that Donald Trump learned from Vladimir Putin during his first term. This is Putin-esque type of corruption and self-enrichment!”
Trump crypto deal and Pakistan access
Nearly six months after the MoU, Pakistani officials confirmed there has been no pilot project to use USD1, no licences issued, and no known transactions using the stablecoin.
Pakistan ranked third globally in the Chainalysis crypto adoption index last year, behind India and the United States.
The Pakistan Virtual Assets Act, passed in March, created the Pakistan Virtual Assets Regulatory Authority (PVARA).