A crypto venture linked to Donald Trump accepted a half-billion-dollar investment backed by an Abu Dhabi royal days before the US president’s inauguration.
The Trump family’s World Liberty Financial (WLF) in January signed a deal with a group of investors backed by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security adviser who also oversees a sprawling business empire. The deal was worth $500mn for a roughly 49 per cent equity stake in the company, according to The Wall Street Journal, which first reported the deal.
WLF spokesperson David Wachsman said the company agreed to the investment “because we strongly believe that it was what was best for our company as we continue to grow”.