Donald Trump · United Arab Emirates · Wall Street · White House · The Block
Ro Khanna launched an investigation into money going to WLF from the UAE royal family
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United Arab Emirates' national security advisor, also known as the "spy sheikh," is playing a major investment role in President Donald Trump's family's bank venture, according to reporting from The Wall Street Journal.
Key facts
- Sheikh Tahnoon bin Zayed al Nahyan, who is also the brother of the country's president, and co-investors have a 49% stake in the holding company created by World Liberty Financial to pursue a bank
- Ro Khanna launched an investigation into money going to WLF from the UAE royal family
- United Arab Emirates' national security advisor, also known as the "spy sheikh," is playing a major investment role in President Donald Trump's family's bank venture, according to reporting
- The that the bank's holding company is WLTC Holdings, but that Tahnoon and other investors used a separate entity called StringZ Holding RSC
Summary
Sheikh Tahnoon bin Zayed al Nahyan, who is also the brother of the country's president, and co-investors have a 49% stake in the holding company created by World Liberty Financial to pursue a bank charter, . The report comes a few weeks after the Office of the Comptroller of the Currency granted World Liberty Trust Company, National Association preliminary approval to become a national trust bank. Earlier this year, WLF created a new trust company to secure a banking license from the OCC that it said would allow it to offer stablecoin issuance and redemption, on-ramp and off-ramp services, and custody and conversion. The that the bank's holding company is WLTC Holdings, but that Tahnoon and other investors used a separate entity called StringZ Holding RSC.