Trump distances himself from family’s $500 million crypto stake sale

President Donald Trump rejected suggestions that he was involved in a deal in which his family sold a 49% stake in the crypto company World Liberty Financial to representatives from Abu Dhabi. He said he was not aware of the negotiations and had no role in the process.

“I know nothing about it. My family handles my finances,” Trump said at the White House, adding only that he understands “crypto is a big topic.”

The deal, reported earlier, was negotiated between Eric Trump and representatives of Sheikh Tahnoon bin Zayed Al Nahyan just four days before the president’s inauguration. The Emirati side agreed to acquire nearly half the company for $500 million. The first payment totaled $250 million, of which $187 million went to entities linked to the Trump family. Another $31 million went to a bloc connected to the family of Steve Witkoff – the project’s co-founder and the U.S. special envoy to the Middle East. An additional $31 million was transferred to entities tied to other co-founders, Zach Folkman and Chase Herro.

The deal raised questions due to Sheikh Tahnoon’s diplomatic role and his leadership of the major investment group G42. Last year, G42 secured access to purchase advanced chips for AI projects from Nvidia, AMD, and Cerebras after negotiations held at the White House – making its investment in an American crypto venture politically sensitive.

World Liberty Financial denies that Trump or Witkoff participated in discussions over the deal’s terms after the president took office. A company representative said the decision to raise capital was driven solely by “business interests,” calling demands for a “special transparency standard” for a private American firm absurd.

Still, scrutiny over the agreement is intensifying amid broader debates about potential conflicts of interest, as large foreign investments in ventures tied to the family of a sitting president could draw attention from Congress and regulators.

Answering questions from reporters, Trump emphasized that any investments involving his family’s businesses occur independently of his political position.