Key Takeaways

• UAE national security advisor Sheikh Tahnoon bin Zayed al Nahyan and his co-investors own 49% of the holding company for World Liberty Financial’s planned crypto bank.
• The venture received preliminary conditional approval for a federal bank charter amidst U.S. decisions affecting UAE's access to advanced AI chips.
• Previous investments by Tahnoon and others totaled $500 million into World Liberty, with $263 million directed to Trump family entities.

The powerful United Arab Emirates official, widely known as the "spy sheikh," is reportedly backing a significant stake in the holding company for the Trump family's nascent crypto bank. This development further solidifies the financial connections between Sheikh Tahnoon bin Zayed al Nahyan and President Donald Trump's business empire, as detailed by The Wall Street Journal.

Sheikh Tahnoon, who also serves as the UAE's national security advisor and is the brother of the country's president, along with his co-investors, controls StringZ Holding RSC. This entity holds a substantial 49% stake in WLTC Holdings, the bank's holding company. Notably, an entity associated with the Trump family possesses an additional 38% ownership.

This is not the first major financial move; in January 2025, shortly after Trump began his second presidential term, Tahnoon and other investors injected $500 million into World Liberty Financial. This prior investment secured a 49% stake in the cryptocurrency company and channeled $263 million to entities linked to the Trump family, according to Trump's 2025 annual financial disclosure.

The recent investment represents one of several foreign deals that have reportedly benefited Trump's businesses since his return to office. CNBC previously reported that Trump's businesses generated at least $59.5 million in foreign licensing revenue during the first year of his second term.

In a significant regulatory development, the Office of the Comptroller of the Currency granted World Liberty preliminary conditional approval this month to establish a federally chartered national trust bank. This bank is slated to handle the issuance, redemption, and safeguarding of World Liberty's USD1, a dollar-backed stablecoin. However, further conditions must be met before the bank can officially open its doors.

The arrangement has raised eyebrows due to Sheikh Tahnoon's position as a foreign government official and ongoing negotiations between the Trump administration and the UAE concerning access to advanced U.S. artificial-intelligence chips. The administration has previously approved chip sales to G42, a UAE state-backed AI company managed by Tahnoon, and recently eased restrictions on the quantity of chips it can acquire.

A spokesperson for World Liberty, David Wachsman, emphasized that the firm is "a private American financial technology company, not a political organization" and asserted that its trust company operates under separate governance. He added, "No one at World Liberty works for the U.S. government and there are no conflicts of interest," further stating that the company neither seeks nor receives special treatment. Wachsman did not comment on the reported ownership structure.

The White House has not yet responded to requests for comment but has previously stated that Trump "only acts in the best interest of the American public" and has denied any conflicts of interest.