Donald Trump and World Liberty Financial face derivative suit over UAE deals
CIE News ·
Based on reporting by Quartz; not yet independently confirmed.
A shareholder derivative lawsuit accuses Donald Trump and World Liberty Financial of violating the Foreign Emoluments Clause through $2.5 billion in reported UAE crypto transactions.
A federal derivative lawsuit was filed on October 22, 2026, against US President Donald Trump, World Liberty Financial (WLFI), and US Special Envoy to the Middle East Steve Witkoff over reported cryptocurrency transactions tied to the United Arab Emirates, according to ua.news. The legal action, Case No. 26-cv-03686, was brought in Washington by Circle Internet Group shareholder J. Benjamin Greenberg and alleges violations of the Foreign Emoluments Clause of the US Constitution.
The complaint cites two specific transactions: a $500 million agreement for a 49% stake in World Liberty Financial tied to UAE National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, and a $2 billion purchase of WLFI's USD1 stablecoin by an Abu Dhabi entity. The lawsuit claims these deals generated unconstitutional profits and demands the disgorgement of funds to American taxpayers.
Circle stated that it did not initiate, authorize, or participate in the lawsuit, as reported by ua.news. World Liberty Financial spokesperson David Waxman stated that the enterprise complies with US laws and regulations and characterized the claims as lacking merit.
Key facts
- Case No. 26-cv-03686 filed
- $500M stake agreement alleged
- $2B USD1 stablecoin deal alleged
- Filed by Circle shareholder