UAE Sheikh Linked to Trump Crypto Bank: 49% Stake, $500M Raise Questions

UAE Official Linked to Largest Stake in Trump Crypto Bank Venture

Sheikh Tahnoon bin Zayed al Nahyan and his co-investors are reportedly the largest shareholders in the holding company established for World Liberty Financial’s planned U.S. banking venture, according to sources cited by The Wall Street Journal. This entity holds a 49% stake in the holding company, positioning Tahnoon-linked investors as the primary stakeholders behind the Trump family’s cryptocurrency venture’s banking initiative.

This ownership structure follows a significant $500 million investment in World Liberty Financial last year, also backed by Tahnoon, which secured him a 49% stake in the company. The new development deepens the business ties between the Trump-backed crypto firm and a senior foreign government official.

Preliminary Approval for Banking Venture

World Liberty Financial recently received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a federally chartered national trust bank. The proposed bank is slated to handle the issuance, redemption, and safeguarding of USD1, World Liberty’s dollar-backed stablecoin launched last year.

This preliminary approval places the planned bank at the core of World Liberty Financial’s stablecoin operations and highlights the ownership of its holding company, where Tahnoon and his co-investors are reported to hold the largest share.

Sheikh Tahnoon’s Role and Financial Influence

Sheikh Tahnoon bin Zayed, who serves as the United Arab Emirates’ national security adviser and is the brother of the country’s president, is identified as a key backer of the Trump family’s new crypto bank. He reportedly oversees a vast financial empire, estimated to be worth over $1.3 trillion, funded by both personal wealth and state resources.

While the report details the size of the stake and the investors involved, it does not provide specifics on the banking venture’s board composition, governance rights, or any veto arrangements tied to the ownership position. These details are considered crucial for understanding how the holding company’s ownership will influence the venture’s operations.

The reporting establishes a substantial financial connection between World Liberty Financial and investors associated with a high-ranking UAE official. However, it does not indicate that Sheikh Tahnoon personally directs the planned bank’s daily management or dictates its U.S. regulatory strategy. Sheikh Tahnoon has been referred to in some media coverage as the “spy sheikh,” but the Journal’s report focuses on his official role and the ownership stake, without linking the nickname to operational control of the bank.

The proposed bank’s role in managing USD1, the dollar-backed stablecoin, is central to the OCC’s preliminary approval. However, further details regarding the venture’s governance structure and the precise relationship between the holding company’s ownership and specific banking functions remain undisclosed.