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U.S. President Donald Trump and his cryptocurrency project World Liberty Financial continue to be in the spotlight.
Recently, Trump and World Liberty Financial (WLFI) made headlines with allegations of a secret deal with a company owned by an Abu Dhabi sheikh that manages $1 trillion.
It has now been revealed that over the weekend, a major deal was signed between Donald Trump’s altcoin WLFI and Sheikh Tahnoun bin Zayed Al Nahyan from the Abu Dhabi royal family.
According to WSJ, Sheikh Tahnoun bin Zayed Al Nahyan signed an agreement to purchase 49% of World Liberty Financial’s shares four days before Trump took office. The report states that the deal was made between Tahnoun’s representatives and Eric Trump.
However, Donald Trump has stated that he was unaware of the $500 million deal between a member of the Abu Dhabi royal family and World Liberty Financial.
When asked about his role in the deal during a Monday press conference, Trump said that his sons handle such decisions: “I don’t know about this. My sons and my family are involved in this. I think they are getting investments from different people.”
Trump’s statement comes after previous reports that Aryam Investment, a company supported by a member of the Abu Dhabi royal family and National Security Advisor Sheikh Tahnoun, purchased 49% of the project’s shares last year for $500 million.
According to WSJ, the total deal was worth $500 million, half of which was paid upfront. Of the initial $250 million, $187 million went to organizations controlled by the Trump family, and at least $31 million went to organizations associated with Steve Witkoff, co-founder of the project and later a special US envoy to the Middle East.