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Donald Trump sued over alleged $2 billion UAE crypto deals
A shareholder of Circle Internet Group, J. Benjamin Greenberg, has filed a federal lawsuit against US President Donald Trump, his family-linked cryptocurrency venture World Liberty Financial (WLFI), and Special Envoy Steve Witkoff. The lawsuit, filed in the US District Court for the District of Columbia, alleges that Trump violated the US Constitution’s Foreign Emoluments Clause by accepting unauthorized financial benefits from foreign governments.
The complaint focuses on two major transactions involving the United Arab Emirates (UAE). First, it cites a $500 million deal in which an investment vehicle backed by a member of the UAE ruling family acquired a 49% stake in World Liberty Financial. Second, it alleges that the Abu Dhabi-based investment fund MGX used World Liberty’s USD1 stablecoin to facilitate a $2 billion investment in the Binance cryptocurrency exchange.
Greenberg, who holds 10,000 shares in Circle, claims these transactions created an unfair competitive advantage for WLFI’s USD1 stablecoin, thereby harming Circle’s market position for its USDC stablecoin. The plaintiff seeks to recover damages and prevent further unauthorized foreign financial benefits.
A White House spokesperson described the lawsuit as “frivolous,” stating there are no conflicts of interest, while a spokesperson for World Liberty Financial called the claims “without merit.” Circle has clarified that it did not initiate or participate in the legal action.
Entities
Binance · Circle Internet Group · Donald Trump · J. Benjamin Greenberg · United Arab Emirates · World Liberty Financial
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] J. Benjamin Greenberg filed a federal lawsuit against Donald Trump, World Liberty Financial, and Steve Witkoff. zombit.info · www.fintag.cz · www.cryptobreaking.com · en.bitcoinsistemi.com · fr.businessam.be · +6 more
- [● 5 SOURCES] Trump reported approximately $1.4 billion in earnings related to his crypto ventures in 2025. zombit.info · fr.businessam.be · www.ms.now · triblive.com · www.troyrecord.com
- [● 5 SOURCES] Circle stated that it did not initiate, direct, authorize, or participate in the lawsuit. zombit.info · www.cryptobreaking.com · fr.businessam.be · triblive.com · www.troyrecord.com
- [● 3 SOURCES] The lawsuit claims the USD1 stablecoin enabled foreign government funding streams that harmed Circle's competitive position. zombit.info · www.cryptobreaking.com · blockonomi.com
- [● 11 SOURCES] The lawsuit alleges Trump violated the US Constitution’s Foreign Emoluments Clause. zombit.info · www.fintag.cz · www.cryptobreaking.com · en.bitcoinsistemi.com · fr.businessam.be · +6 more
- [● 3 SOURCES] A White House spokesperson called the lawsuit “frivolous” and denied any conflicts of interest. zombit.info · en.bitcoinsistemi.com · www.ms.now
- [● 8 SOURCES] An investment vehicle backed by a UAE royal family member bought a 49% stake in World Liberty Financial for $500 million. zombit.info · www.fintag.cz · en.bitcoinsistemi.com · blockonomi.com · businessam.be · +3 more
- [● 8 SOURCES] The Abu Dhabi-based fund MGX used the USD1 stablecoin to invest $2 billion in Binance. zombit.info · www.fintag.cz · www.cryptobreaking.com · en.bitcoinsistemi.com · blockonomi.com · +3 more