Since Donald Trump returned to the White House, his family has earned over ten billion dollars through cryptocurrency ventures, drawing widespread criticism and questioning. Despite the controversy, the Trump family has continued to operate assertively in the crypto space, achieving significant momentum.
On February 1, The Wall Street Journal, citing multiple informed sources and corporate documents, disclosed that just before Trump's presidential inauguration last January, an investment firm linked to the United Arab Emirates rapidly acquired nearly half the shares of the Trump family's cryptocurrency company. This "unprecedented" transaction marked the first time a foreign government official became a major shareholder in a new U.S. president's company.
The report stated that four days prior to Trump's inauguration, UAE-based Aryam Investment 1 struck a deal with Eric Trump, the president's second son, purchasing a 49% stake in World Freedom Financial, a company founded by the Trump family. The agreement made Aryam the largest shareholder in World Freedom Financial, with two Aryam executives joining the company's five-member board of directors.
Corporate filings revealed that of Aryam's initial $250 million payment, $187 million flowed to entities controlled by the Trump family, while an additional $31 million went to businesses controlled by the family of U.S. Middle East envoy Wittkoff.
Insiders disclosed that Sheikh Tahnoon bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the UAE's national security advisor who oversees the country's largest sovereign wealth fund, backed the transaction. Tahnoon manages assets exceeding $1.3 trillion across diverse sectors including fisheries and artificial intelligence.
This development meant the Trump family had orchestrated a deal unprecedented in American political history: a foreign government official becoming a principal shareholder in the company of a newly elected U.S. president.
According to information published on World Freedom Financial's website, the Trump family's ownership stake has decreased from 75% last year to 38%, indicating likely share purchases by undisclosed buyers.
The Wall Street Journal noted that shortly after Trump assumed the presidency, Tahnoon held multiple meetings with Trump, Wittkoff, and other U.S. officials. Last May, during a Middle East visit, Trump reached an agreement with the UAE permitting annual imports of 500,000 advanced AI chips from the United States—a significant achievement positioning the UAE for competition in cutting-edge technologies.
The extent of influence the Aryam-World Freedom Financial transaction had on the U.S.-UAE government agreement remains unclear. However, the report highlighted that Trump did not disclose the UAE company's purchase of his family business shares when the intergovernmental deal was finalized.
World Freedom Financial spokesperson David Waxman confirmed the investment to CNN but emphasized that neither Trump nor Wittkoff participated in the transaction, nor were they involved in the company's operations after taking office.
Waxman denied any connection between the share transaction and the chip agreement, stating: "Any suggestion linking the deal to government actions on chips is completely false. As a private enterprise, we follow the same rules as others in our industry—we neither seek special treatment nor accept restrictive conditions."
He asserted the investment was purely business-driven: "We proceeded because we believed it best for the company's growth. Imposing unique standards on a private U.S. company during fundraising would be absurd and un-American."
Deputy Attorney General Todd Blanch defended Trump, telling ABC News that the Trump family maintained "complete transparency" regarding business travel, adding: "There's nothing unprecedented about the Trump Organization seeking overseas investments, which ultimately benefit the American public."
Despite these defenses, the transaction sparked criticism over potential conflicts of interest and corruption. Former Obama administration official Richard Stengel posted on social media: "The scale of this corruption is unbelievable and unheard of. Never before has a foreign government official held significant shares in a new president's company."
Democratic members of the House Foreign Affairs Committee criticized: "Trump endlessly monetizes his presidency while increasing Americans' living costs." Massachusetts Senator Elizabeth Warren accused Trump of "corruption" and called for congressional investigations.
The White House sought to alleviate concerns, with spokesperson Anna Kelly stating: "President Trump acts solely in the public's best interests, which explains his overwhelming re-election. His assets are held in a trust managed by his children, eliminating conflicts of interest."
White House Counsel David Wallington defended Wittkoff separately: "Like all officials, Wittkoff strictly adheres to ethical principles. As a peace envoy, he does not and will not participate in matters affecting his personal finances. He has divested from World Freedom Financial."
Since Trump's re-election, his family has expanded into investment banking, online firearm sales, digital pharmacies, and particularly cryptocurrency investments. Bloomberg reported on January 20 that within Trump's first year back in office, his family generated approximately $14 billion from crypto projects.
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