The "Spy Sheikh" Paid $500 Million for 49% of Trump's Crypto Company — Four Days Before Inauguration
Four days before Donald Trump took the oath of office in January 2025, lieutenants of Sheikh Tahnoon bin Zayed Al Nahyan — a member of Abu Dhabi's ruling family, the UAE's national security adviser, and manager of its largest sovereign wealth fund — signed a contract purchasing a 49% stake in World Liberty Financial, the Trump family's flagship cryptocurrency company.
The price: $500 million. Of that, $187 million went directly to Trump family entities. At least $31 million went to entities controlled by Steve Witkoff — who Trump later appointed as his top Middle East envoy.
Who Is Sheikh Tahnoon?
The Wall Street Journal calls him the "Spy Sheikh." He is Sheikh Tahnoon bin Zayed Al Nahyan — brother of the UAE's president, head of the country's national security apparatus, and chairman of ADQ (one of Abu Dhabi's largest investment firms). He oversees intelligence operations and manages hundreds of billions in sovereign wealth.
This is not some anonymous investor. This is the intelligence chief of a foreign government buying near-majority control of the sitting president's private business venture.
The Quid Pro Quo Question
Months after the deal closed, the U.S. agreed to provide the UAE with access to 500,000 of America's most advanced AI chips per year. Congressman Ro Khanna has launched a congressional investigation into the arrangement.
World Liberty Financial's spokesperson insists "neither President Trump nor Steve Witkoff had any involvement whatsoever in this transaction." Eric Trump — who signed the deal — is apparently a completely independent actor with no connection to his father's interests. That is the official position.
The Conflict
To summarize: The UAE's spy chief paid half a billion dollars to the Trump family. The Trump family then appointed the co-beneficiary of the deal as Middle East envoy. That envoy now negotiates on behalf of the United States with, among others, the UAE.
Months later, the UAE got access to the most powerful AI chips on the planet.
This is not even trying to look clean. Previous administrations at least had the decency to launder their conflicts through foundations, speaking fees, and book deals. This one signed the contract four days before inauguration and put the receipt on the front page of the Wall Street Journal.