Lawsuit Accuses Donald Trump of Violating Foreign Emoluments Clause
J. Benjamin Greenberg filed a federal lawsuit alleging President Donald Trump illegally profited from $2 billion in crypto deals with a United Arab Emirates official.
A federal civil lawsuit filed Thursday in U.S. District Court in Washington accuses Donald Trump and his family's crypto company, World Liberty Financial, of violating the U.S. Constitution's Foreign Emoluments Clause. The complaint, filed by Circle Internet Group shareholder J. Benjamin Greenberg, alleges that Trump corruptly profited from more than $2 billion in digital currency deals involving Sheikh Tahnoon bin Zayed Al Nahyan, the national security advisor to the United Arab Emirates.
Specifically, the lawsuit cites a $500 million purchase of a 49% stake in World Liberty Financial by a Tahnoon-backed entity and a $2 billion purchase of the USD1 stablecoin intended to inflate Trump's holdings. The suit seeks a court declaration that these profits are illegal and demands that Trump return the funds to taxpayers. U.S. Middle East Special Envoy Steve Witkoff is also named as a defendant.
The White House and World Liberty Financial have denied the allegations, describing the lawsuit as frivolous and without merit. Circle Internet Group has distanced itself from the action, stating it did not initiate, direct, authorize, or participate in the filing.
