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UAE Royal Invests in Trump-Affiliated Crypto Venture Amid Conflict Concerns

Guavy AI Editorial Team
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LTC
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The Trump-affiliated crypto venture, World Liberty Financial, has secured backing from Sheikh Tahnoon bin Zayed Al Nahyan's group in its bid to establish a US trust bank. The UAE royal's investment vehicle reportedly holds a 49% stake in WLTC Holdings, the company behind World Liberty Financial's planned bank.

A Trump family-affiliated entity also owns a significant share of WLTC Holdings, holding another 38%. This joint ownership structure has raised concerns about potential conflicts of interest among Democratic lawmakers.

The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval to World Liberty Trust Company, paving the way for the establishment of the US trust bank. However, the bank still needs to meet several pre-opening requirements and receive final approval before it can begin operating.

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