Business
Circle investor challenges Trump-linked crypto deals involving UAE
A Circle Internet Group shareholder sued President Donald Trump and World Liberty Financial, alleging two deals tied to the United Arab Emirates violated the Constitution’s foreign emoluments clause. The family-backed crypto firm said it complies with U.S. laws and regulations.
A shareholder of cryptocurrency company Circle Internet Group filed a federal lawsuit Thursday against President Donald Trump and World Liberty Financial, accusing them of violating the Constitution through two business deals linked to the United Arab Emirates.
The complaint alleges the arrangements allowed Trump to profit from his office without congressional approval. The foreign emoluments clause bars a president from accepting benefits from a foreign government unless Congress consents.
World Liberty Financial was co-founded by Trump and his sons. The lawsuit centers on two deals involving the crypto venture and the UAE, though the allegations described in the filing do not provide further details about the arrangements.
“No president in American history has profited from his office so brazenly,” the complaint says, arguing that the alleged conduct amounts to using the presidency to expand Trump’s personal fortune.
David Wachsman, a spokesperson for World Liberty Financial, said the company is “compliant with all U.S. laws and regulations.” The allegations have not been proven in court.