Add as a preferred source on GoogleFormer Circle Engineer Sues Trump, WLFI Over UAE Crypto Deals
The complaint cites a $500 million sale of a 49% stake in World Liberty Financial and a $2 billion stablecoin purchase by a UAE government-created fund.
Joel Greenberg, a former Circle software engineer who holds about 10,000 Circle shares, filed a shareholder derivative lawsuit against Trump and World Liberty Financial in federal court in Washington. He alleges Trump profited from two crypto transactions linked to the UAE, violating the Constitution’s Foreign Emoluments Clause.
One transaction involved the $500 million sale of a 49% stake in World Liberty Financial. Another was an investment fund established by the UAE government buying $2 billion in stablecoins.
Greenberg asks the court to recover money Trump received through the deals and award damages. He also seeks disclosure of other foreign payments connected to crypto businesses, extending the request beyond the two transactions identified in the complaint.
World Liberty Financial has previously said Trump was not involved in the equity sale and currently holds no position at the company. The White House, World Liberty Financial and Circle had not responded to requests for comment by publication time.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.