A US$2 billion Abu Dhabi investment in President Donald Trump's cryptocurrency venture has surfaced as he accepted a US$400 million luxury jet from Qatar, exposing a web of financial conflicts involving his Middle East envoy, Steve Witkoff, The Guardian investigation reveals World Liberty Financial – co-owned by Trump and Witkoff families – secured the record crypto deal after Trump authorized advanced AI chip sales to the UAE, with Trump entities holding 60% ownership and 75% of profits.
The partnership traces to 1980s Manhattan real estate dealings, where lawyer Witkoff first represented Trump. Their relationship evolved into golf partnerships and shared ventures, with Witkoff later facilitating Qatar's controversial aircraft gift while serving as special envoy. During Trump's 2024 presidential transition, Witkoff promoted the crypto firm in Dubai, where organizers billed him as the incoming administration's key Middle East figure. His son Zach has since assumed business operations, recently meeting Pakistan's military leadership.
Democrat Senator Chris Murphy blasted the arrangement: "The Trump family proudly advertises where checks should be sent, transforming the White House into a profit center." The revelations spotlight how Witkoff leveraged diplomatic access to advance private interests, marking one of history's largest government-linked crypto transactions.
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