"In autumn 2024, when it had become clear that he'd likely win back the White House in about six weeks, Donald Trump and his friend Steve Witkoff founded a crypto business called World Liberty Financial (WLF), McCarthy wrote. WLF was (and remains) an ideal vehicle for leveraging political power in search of financial gain. He added, a crypto business whether in tokens, currency, or other iterations is an ideal way to disguise political payoffs as financial transactions."
"Four days before Trump was inaugurated in January 2025, the UAE began pouring what is now publicly known to be at least $2.5 billion into the Trump crypto enterprise. He noted that the UAE, soon after, was given access to cutting-edge American chip technology which had previously been denied them because of their ties to the Chinese Communist Party. The UAE was also feted at the White House, inflated into a nation of real consequence in Middle East geopolitics,"
Donald Trump and Steve Witkoff founded World Liberty Financial (WLF), a crypto company, in autumn 2024 as a vehicle positioned to monetize political influence. WLF's structure, with family members not holding government posts appearing to run operations, created a plausible private façade while political stature drew investors and customers. Crypto transactions, including tokens and currency variants, provided mechanisms to obscure political payoffs as financial exchanges. Four days before the January 2025 inauguration, the UAE invested at least $2.5 billion into the enterprise. The UAE subsequently received access to advanced American chip technology, favorable White House treatment, inclusion in a national AI supercomputing project, and an ownership share in TikTok.
Read at www.mediaite.com
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