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Major Cryptocurrency Deal Before Trump’s Inauguration

Four days ahead of US President Donald Trump’s planned inauguration in 2025, representatives of Sheikh Tahnoon bin Zayed Al Nahyan, known as the "spy sheikh," finalized a noteworthy agreement with the Trump family. The transaction involved the purchase of a remarkable 49 percent stake in their burgeoning cryptocurrency initiative, valued at half a billion dollars. This information comes from recently disclosed company documents and insights from individuals who are well-versed in the matter.

Financial Details of the Deal

Under the terms of this comprehensive agreement with World Liberty Financial, the buyers are set to provide half of the payment upfront. This translates to a substantial $187 million heading toward entities associated with the Trump family. The Wall Street Journal has reported that this deal was signed by Eric Trump, marking a significant milestone for both parties involved. A critical aspect of this arrangement is the substantial ownership stake acquired by a foreign government official in a venture affiliated with an incoming US president, raising eyebrows and questions about potential conflicts of interest.

How the Deal Connects to the “Spy Sheikh”

Who is Sheikh Tahnoon?

The key figure behind this significant deal is Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family. He has been vocal about his desire for access to advanced, protected artificial intelligence chips from the United States. This demand was highlighted in various reports, drawn from discussions with informed sources.

Notably, Tahnoon is not just a royal figure; he is also the brother of the UAE President and holds the title of National Security Adviser for the UAE. In this capacity, he oversees one of the largest sovereign wealth funds globally, managing assets exceeding $1.3 trillion. His extensive footprint in global investment makes him one of the most influential investors in today’s market.

Dynamics of the Deal

With Trump’s re-election paving the way for this deal, it unlocked access to AI hardware that had been previously unattainable during the administration of Joe Biden. Following Trump’s successful election bid, Tahnoon engaged in several meetings with Trump and US envoy Steve Witkoff, including a noteworthy discussion at the White House. In this meeting, he expressed a strong commitment to collaborating with the US on advancements in artificial intelligence and other critical sectors.

In a swift move, just two months after their March discussions, the administration permitted the small Gulf state to access around 500,000 advanced AI chips annually. Such an allocation would empower the UAE to establish one of the world’s largest networks of AI data centers. Under the terms of the preliminary agreement, roughly one-fifth of these advanced chips were destined for G42, Tahnoon’s flagship technology investment firm.

Aryam Investment and Financial Transactions

Of the initial $250 million installment originating from the Tahnoon-backed entity, Aryam Investment 1, a significant $187 million was routed to companies linked to the Trump family, specifically DT Marks DEFI LLC and DT Marks SC LLC, as detailed in the disclosed documents. Alongside payments made to Witkoff family entities, an additional $31 million found its way to firms connected to co-founders Zak Folkman and Chase Herro.

This deal catapulted Aryam into the role of the largest shareholder in World Liberty, making it the only known external investor besides the company founders. Crucially, two executives from Aryam, previously holding prominent roles at G42, were appointed to World Liberty’s five-member board, which also included Eric Trump and Zach Witkoff, the son of Steve Witkoff.

On January 16, 2025, representatives from Aryam finalized the $500 million agreement with Trump and Witkoff’s World Liberty. On the ensuing day, during his first full day in office, Trump unveiled plans for a massive $500 billion AI-focused data center initiative involving significant partners such as OpenAI and SoftBank, with Tahnoon’s company, MGX, identified as a key additional investor.

In a series of follow-ups, the Treasury Department announced a fast-track pilot program to facilitate foreign investments, aligning with the UAE’s aspirations for expedited processes. During Trump’s visit to Abu Dhabi later that month, he revealed that both nations had entered into a substantial agreement for the UAE to purchase US-made AI chips. Further negotiations subsequently led to an agreement for the sale of 35,000 chips to G42, albeit fewer than the UAE’s initial request.

Reaction and Perspectives

A source acquainted with the investment noted that Sheikh Tahnoon and his advisors meticulously analyzed World Liberty’s plans for several months before finalizing their investment, asserting that these discussions were independent of President Trump. It was emphasized that at no point during this due diligence process was the investment discussed with Trump.

Amidst the controversy, White House spokeswoman Anna Kelly asserted that President Trump consistently acts in the best interests of the American public. She noted that Trump’s financial assets are managed in a trust overseen by his children, asserting that there were no conflicts of interest stemming from the deal. Additionally, a spokesperson for the Trump Organization asserted that the firm is committed to adhering to its ethical responsibilities and complying with all applicable regulations.

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