UAE 'spy sheikh' backs 49% stake in Trump family's crypto bank venture, WSJ reports
A senior UAE official, described by the Wall Street Journal as a "spy sheikh," has agreed to back a 49% stake in World Liberty, the Trump family's crypto banking venture. Preliminary federal approval has been granted for World Liberty's proposed trust bank, the Journal reported.
Key takeaways
- A senior UAE official the Wall Street Journal described as a "spy sheikh" has agreed to back a 49% stake in World Liberty, the Trump family's crypto banking venture.
- The 49% stake is not a controlling interest, and the WSJ did not say what entity holds the remaining share.
- World Liberty's proposed trust bank has received preliminary federal approval, according to the report.
- The WSJ did not name the UAE official, disclose the financial value of the stake, or specify when the agreement was reached.
- The report characterized the deal as a deepening of World Liberty's ties to the senior UAE official.
A senior UAE official, described by the Wall Street Journal as a "spy sheikh," has agreed to back a 49% stake in World Liberty, the Trump family's crypto banking venture. Preliminary federal approval has been granted for World Liberty's proposed trust bank, the Journal reported.
The Journal did not identify the official by name or disclose the financial value of the stake. The report described him as a senior figure within the UAE government.
The 49% stake falls short of a controlling interest. The Journal did not specify what entity holds the remaining share or when the agreement was reached.
World Liberty's proposed trust bank holds preliminary federal approval, the report shows. The Journal did not name which federal body granted that status or the timeline for a final determination.
The report described the arrangement as a deepening of World Liberty's ties to the senior UAE official.