Trump Family Crypto Bank Ties to Abu Dhabi National Security Adviser Raise Concerns
The United Arab Emirates' national security adviser, Sheikh Tahnoon bin Zayed Al Nahyan's investment vehicle, StringZ Holding RSC, holds a significant stake in WLTC Holdings, the parent company of World Liberty Trust Company, N.A. The bank was recently granted conditional approval by the Office of the Comptroller of the Currency (OCC) to operate as a federally chartered bank.
According to the Wall Street Journal, StringZ Holding RSC owns 49% of WLTC Holdings, while Trump family-affiliated entities hold 38%. The remaining shares are split among other stakeholders. This stake is significant because it gives Sheikh Tahnoon's vehicle control over the parent company that owns World Liberty Trust Company.
The arrangement has raised concerns about potential conflicts of interest and possible violations of US laws. Representative Ro Khanna had already expressed concerns about Sheikh Tahnoon's original $500 million investment in World Liberty Financial, writing that the deal 'may even represent a violation of multiple laws and the United States Constitution.'