Trump, crypto firm sued over $2 bn UAE-linked deals: What the World Liberty transactions reveal and why it matters
A Circle Internet Group shareholder sued Donald Trump, World Liberty Financial and others, alleging two UAE-linked crypto deals violated the Constitution’s Foreign Emoluments Clause and harmed Circle investors.
Donald Trump and World Liberty Financial, a cryptocurrency venture co-founded by the former president and his sons, face a lawsuit from J. Benjamin Greenberg, a shareholder of Circle Internet Group Inc. Greenberg claims that Trump unlawfully profited from two transactions linked to the United Arab Emirates, violating the Foreign Emoluments Clause of the US Constitution.
The lawsuit alleges that Trump's actions resulted in over $2 billion in payments from a foreign government, benefiting him personally. The suit targets Trump, World Liberty Financial, Steve Witkoff, and four affiliated LLCs, seeking an injunction to stop the violations, the return of alleged unlawful profits, unspecified damages, and disclosure of any additional crypto earnings received from foreign sources.
The White House dismissed the allegations as politically motivated and claimed no conflicts of interest exist. World Liberty Financial also rejected the claims, stating they are compliant with all US laws and regulations. Matt Pelikan, an attorney representing Greenberg, said the lawsuit aims to halt corruption and force Trump to return the profits to American taxpayers.
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