Circle · Donald Trump · United Arab Emirates · CLARITY Act · Abu Dhabi · Bitcoin Magazine
Circle Shareholder Sues Trump, Alleging Unconstitutional Profits From $2 billion UAE Crypto Deals
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A shareholder of stablecoin giant Circle has alleged the president corruptly cashed in on crypto deals.
Key facts
- The lawsuit goes on to allege that an investment fund created by the government of Abu Dhabi also gave the president $2 billion via World Liberty Financial’s USD1 stablecoin product
- It alleges that the president has “corruptly” profited from $2 billion via the deals
- President Trump stopped being involved in the project after taking office in 2025
- President Trump, World Liberty, and U.S. Middle East Special Envoy Steve Witkoff are named as the defendants in the lawsuit
Summary
A shareholder from one of the world’s biggest digital asset companies has sued U.S. President Donald Trump for alleged crypto corruption. The lawsuit, filed on Thursday by shareholder and former Circle employee J. Circle is the fintech company behind the stablecoin, USDC. Several lawmakers didn’t back the draft legislation, the Clarity Act, because they said that the Trump family had illicitly cashed in on crypto ventures.