Circle Internet Group shareholder Joel Greenberg sued Trump-family crypto project World Liberty Financial (WLFI) in a U.S. federal court, alleging that two United Arab Emirates-linked transactions violated the Constitution’s Foreign Emoluments Clause, BlockBeats reported on Oct. 22.
Complaint allegations have not been adjudicated
According to the complaint as summarized by BlockBeats, WLFI sold a 49% stake for $500 million before President Trump’s second term, with the money allegedly coming from the UAE. A UAE government investment fund allegedly bought $2 billion of Trump-family digital currency in a separate transaction. Greenberg, who holds about 10,000 Circle shares, filed a derivative action seeking recovery of the alleged proceeds, disclosure of other foreign crypto payments and unspecified damages.
The White House and WLFI had not responded to requests for comment in the report. The allegations have not been decided by a court, and the cited report did not provide a docket number or a copy of the complaint.