Donald Trump says he knows nothing about World Liberty Financial’s UAE ties, despite his family’s reported stake and a $500 million investment deal involving UAE-linked investors.

Table of contents

  • Trump said he "knows nothing" about World Liberty Financial's UAE ties and that his sons run the business
  • The ties extend to World Liberty's proposed trust bank (WLTC Holdings), which got OCC preliminary conditional approval in August 2026 to issue and redeem USD1
  • Democrats are preparing investigations after the midterms; Rep. Robert Garcia, expected to lead House Oversight, has flagged the family's crypto dealings as a possible target

US President Donald Trump has defended his continued ownership of World Liberty Financial after questions about the cryptocurrency company's foreign investors and reported financial ties to the United Arab Emirates raised fresh concerns about potential conflicts of interest. 

Trump said he knew nothing about the company's dealings and maintained that his sons were responsible for running the business, despite his financial interest in the venture.

Trump says his sons should run their crypto business despite presidency

In an interview with CBS News correspondent Ross Douthat, which aired on Sunday, November 8, Trump was questioned about foreign investments in his cryptocurrency business. 

Douthat asked why such investments should not raise the same corruption concerns Trump might have raised if former President Joe Biden had maintained similar business interests.

"Because I know nothing about it," Trump replied, defending his position that his sons manage World Liberty Financial independently of his presidential duties.

Douthat also questioned why Trump had not sold his stake in the company while allowing his sons to continue running the business. 

Trump pointed to how his personal wealth was managed, saying much of his money was held by major Wall Street investment firms and invested in index funds.

He argued that his sons should be free to pursue their business interests during his presidency, saying it would be difficult to ask them to suspend their activities for four years because he had taken office.

Douthat then asked whether foreign investors could view investments in a company partly owned by the president as a way to buy political influence. 

Trump replied, "I don't know," adding that potential conflicts involving people close to a president were not unique to his administration.

inside World Liberty's $500 million UAE investment deal

World Liberty Financial launched in September 2024, with Donald Trump named its chief crypto advocate. 

His sons, Donald Trump Jr. and Eric Trump, became Web3 ambassadors, while Barron Trump was listed as chief DeFi visionary.

Trump has said his sons manage the business. However, company disclosures indicate that his family retains a substantial financial interest. 

DT Marks DEFI LLC, a family-affiliated entity, reportedly owns about 38% of World Liberty's holding company. It also holds 22.5 billion WLFI tokens and is entitled to 75% of net proceeds from token sales.

The company's foreign investments have drawn scrutiny as an investment vehicle linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser, reportedly agreed to acquire a 49% stake in World Liberty for $500 million. 

Eric Trump signed the agreement four days before his father's inauguration in January 2025. The deal raised concerns about foreign influence over a company partly owned by the US president.

The UAE links extend to World Liberty's proposed bank. Reports in August said Sheikh Tahnoon and other investors held a 49% stake in WLTC Holdings, the company behind the proposed trust bank. 

Notably, a Trump family-affiliated entity reportedly held another 38%.

The Office of the Comptroller of the Currency granted the bank preliminary conditional approval in August 2026. 

It would allow the bank to issue and redeem USD1, manage its reserves and provide institutional custody services, subject to further regulatory requirements. 

USD1 was used in Abu Dhabi-backed MGX's $2 billion investment in Binance.

Democrats prepare to investigate Trump's crypto dealings after midterm victory

World Liberty is facing a legal dispute with Tron founder Justin Sun, who says he invested $45 million in WLFI tokens. 

Sun has asked a federal court to sanction the company, alleging it delayed disclosing UAE-linked entities in its ownership structure. 

The dispute followed Sun's accusation that World Liberty froze his tokens. The company rejected his claims, calling the lawsuit a "meritless PR stunt".

Democrats are preparing to investigate World Liberty Financial following their victory in the November midterm elections, raising questions about the Trump family's cryptocurrency dealings and potential conflicts of interest.

Representative Robert Garcia, expected to lead the House Oversight Committee, has identified the family's businesses and crypto transactions as potential subjects of investigation. 

The exchange comes amid growing scrutiny of World Liberty Financial's ownership structure and its reported connections to investors linked to the UAE government.

Hassan Shittu is a Web3 and finance journalist and editor with over six years of experience writing for crypto-native, stock market and tech publications. A five-year Web3 trader with hands-on experience in meme coins and NFTs, he brings firsthand market knowledge and a technical writing background to his coverage. Outside of crypto, he enjoys football.