US President Donald Trump said he had no knowledge of a reported $500 million investment by an Abu Dhabi royal into the World Liberty Financial crypto platform.
“I don’t know about it,”
Trump told reporters, adding that his sons were handling the business dealings and that family entities receive investments from various parties.
The comments followed a report by The Wall Street Journal that Sheikh Tahnoon bin Zayed Al Nahyan agreed to buy a 49% stake in World Liberty Financial four days before Trump’s inauguration.
According to the report, the investment was made through a Tahnoon-backed entity, with part of the funds directed to Trump-family entities and another portion to companies linked to two of WLFI’s founders.
The deal would reportedly make the Abu Dhabi-backed vehicle the largest shareholder in World Liberty Financial, a crypto platform co-founded by Trump alongside his sons.
The disclosure has added to scrutiny of Trump’s crypto ties, with Democratic Senator Elizabeth Warren previously urging regulators to pause review of WLFI’s bank charter bid.
A WLFI spokesperson said the company should not be held to a unique standard when raising capital, while regulators have said any application would face the same review as others.
At the time of reporting, World Liberty Financial price was $0.13.