Trump’s $2B Crypto Deal in Dubai Raises Ethics Alarms

At a high-profile crypto summit in Dubai, the Trump family’s private business and America’s diplomacy intersected in an unprecedented way.

Zach Witkoff, head of World Liberty Financial—a Trump family-linked crypto firm—announced a $2 billion transaction involving Abu Dhabi’s state-owned MGX and Binance. The deal will utilize USD1, a stablecoin issued by World Liberty Financial.

The announcement was made during a panel featuring Eric Trump, who oversees the Trump Organization while his father, Donald Trump, serves as U.S. president.

This raises significant ethical questions. The arrangement connects a sitting president’s family business directly with foreign government funding. Adding to the intrigue, Eric Trump unveiled plans for a Trump-branded hotel in Dubai, just ahead of President Trump’s upcoming state visit to the region.

Also on the panel was Justin Sun, a major investor in World Liberty and currently facing SEC scrutiny—a case now paused during settlement talks initiated under Trump’s administration.

With potential annual earnings in the tens of millions from stablecoin reserves, critics warn this blend of politics and profit poses a serious conflict of interest.

As Witkoff stated, “It’s only the beginning.” Eric Trump added, “Soon, you won’t use USD1 at the Four Seasons—you’ll use it at Trump International.”