It was secretly seeded with half a billion dollars from Sheikh Tahnoon bin Zayed al Nahyan, the deputy to and intelligence chief for his brother Sheikh Mohamed, the king of the United Arab Emirates. Concurrently, WLF— ostensibly
run by sons Eric Trump and Zach Witkoff— got help building the blockchain infrastructure from Changpeng Zhao.
run by sons Eric Trump and Zach Witkoff— got help building the blockchain infrastructure from Changpeng Zhao.
Zhao had been convicted of felony money laundering for allowing his crypto
exchange (Binance, now banned in the U.S.) to become a covert funding channel for “terrorists, cybercriminals, and child abusers,” in the words of the DOJ. When WLF rolled out USD1, its new
stablecoin (a form of cryptocurrency pegged to the value of the dollar), Tahnoon— whose government was lobbying Trump to pardon Zhao— bought an astonishing $2 billion of the untested coin,
Investing it in Zhao’s Binance.
exchange (Binance, now banned in the U.S.) to become a covert funding channel for “terrorists, cybercriminals, and child abusers,” in the words of the DOJ. When WLF rolled out USD1, its new
stablecoin (a form of cryptocurrency pegged to the value of the dollar), Tahnoon— whose government was lobbying Trump to pardon Zhao— bought an astonishing $2 billion of the untested coin,
Investing it in Zhao’s Binance.
Stablecoin operates like a bank: issuers like WLF invest the purchase proceeds. Trump and Witkoff therefore stand to make $80 million per year from Tahnoon’s purchase. Subsequently, Zhao got his pardon, and the UAE got access to the advanced microchip technology from which Biden security officials and congressional Republicans had blocked it over concerns about Tahnoon’s ties to Beijing. If Democrats take control of the House this fall, expect to hear a lot more about this.
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