Sheikh Tahnoon bin Zayed al Nahyan, the UAE’s national security adviser, holds a 49% stake in the Trump family’s crypto bank venture, World Liberty Financial, as the company secures preliminary regulatory approval to operate as a federally chartered trust bank, according to multiple reports.
The United Arab Emirates’ national security adviser, Sheikh Tahnoon bin Zayed al Nahyan, has emerged as the largest individual shareholder in the Trump family’s cryptocurrency venture, World Liberty Financial, according to reports from CNBC and The Wall Street Journal. Tahnoon’s entity, StringZ Holding RSC, owns a 49% stake in WLTC Holdings, the parent company of World Liberty’s banking operation, while a Trump family-affiliated entity holds an additional 38%, according to the Journal. The deal, finalized in January 2025, saw Tahnoon’s group invest $500 million for a 49% stake, with $263 million directed to Trump family entities, as disclosed in the president’s 2025 financial filings.
Ownership Structure and Financial Ties
The investment underscores a deepening financial relationship between the UAE and the Trump family. Tahnoon, who is also the brother of UAE President Sheikh Mohamed bin Zayed al Nahyan, has previously been dubbed the “spy sheikh” due to his role in national security and intelligence. The $500 million transaction, signed four days before Trump’s January 2025 inauguration, marked a significant boost for World Liberty, which aims to issue and manage USD1, a dollar-backed stablecoin with a $4 billion market value.
The Trump family’s stake in WLTC Holdings, alongside Tahnoon’s, has drawn scrutiny from Democrats and ethics watchdogs. This creates the awkward situation of the OCC needing to police World Liberty, which has an affiliation with the president’s family,
said New York University Stern School of Business professor Austin Campbell. The Office of the Comptroller of the Currency (OCC) granted World Liberty preliminary conditional approval to establish a national trust bank this month, allowing it to issue and redeem USD1 directly. However, the firm must still meet capital, compliance, and operational requirements before full authorization.
Regulatory Approval and Scrutiny
World Liberty’s spokesperson, David Wachsman, defended the arrangement, stating the company is a private American financial technology company, not a political organization
and that it has separate governance from the Trump administration. No one at World Liberty works for the U.S. government and there are no conflicts of interest,
he added. The White House has previously denied allegations of conflicts, asserting that Trump only acts in the best interest of the American public.
Political and Ethical Concerns
The Trump family’s crypto ventures have generated significant revenue, with financial disclosures showing at least $1.4 billion in earnings last year. However, the World Liberty bank charter has raised questions about the administration’s handling of foreign investments. The arrangement has drawn scrutiny because Tahnoon is a foreign government official and the Trump administration has negotiated with the UAE over access to advanced U.S. artificial-intelligence chips,
CNBC reported. The UAE’s influence extends beyond finance: Tahnoon also controls G42, the state-backed artificial intelligence company that received approval from the Trump administration to purchase U.S. chips.
The outcome of the OCC’s final approval process will determine whether World Liberty becomes the first U.S. bank owned by a sitting president’s family. If approved, the venture could reshape the stablecoin market, which currently sees USD1 competing with other dollar-backed digital currencies. However, critics argue the arrangement risks entrenching conflicts of interest.
As the regulatory process unfolds, the Trump family’s financial interests and the UAE’s strategic ties will remain under intense scrutiny. The OCC’s final decision could set a precedent for how federal agencies balance innovation in fintech with ethical oversight. For now, the $500 million investment and the 49% stake in WLTC Holdings stand as a testament to the complex interplay between politics, finance, and foreign policy in the digital age.
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