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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.
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