WSJ Reveals: UAE Royal Family Secretly Invested in WLFI, Exchanging for Top U.S. AI Chips
A Wall Street Journal investigation reveals that days before Donald Trump's presidential inauguration, an Abu Dhabi royal, Sheikh Tahnoon bin Zayed Al Nahyan, secretly invested $500 million to acquire a 49% stake in Trump's crypto venture, World Liberty Financial (WLFI). The deal, signed by Trump's son Eric, involved an initial $250 million payment, with $187 million going directly to Trump family entities.
Sheikh Tahnoon, a powerful figure overseeing a $1.3 trillion empire, sought access to restricted U.S. AI chips, which had been limited under the Biden administration due to concerns over potential technology transfer to China. Following Trump's election, his administration negotiated a deal to supply the UAE with advanced AI chips, with about one-fifth allocated to Tahnoon's AI company, G42.
The investment and subsequent chip deal have raised significant ethical and legal concerns, with experts suggesting it may violate constitutional emoluments clauses. The report also details connections between Tahnoon's investment vehicle, WLFI's stablecoin project, a $2 billion investment in Binance, and the eventual pardon of Binance founder Changpeng Zhao.
marsbit02/02 08:20
