An investor in one of the leading global digital asset firms has initiated legal action against U.S. President Donald Trump, citing accusations of cryptocurrency-related corruption.
Brought forward on Thursday by J. Benjamin Greenberg—who is both a shareholder and a former employee of Circle—the complaint claims that a member of the ruling family of the United Arab Emirates agreed to channel half a billion dollars into World Liberty Financial, a venture supported by Trump, in direct breach of the Constitution.
Circle serves as the financial technology firm that issues the USDC stablecoin. Regulatory bodies across the U.S. are rapidly advancing favorable cryptocurrency regulations, even though legislators last month rejected major digital asset legislation that had received backing from President Trump.
Certain members of Congress withheld their support for the proposed Clarity Act, arguing that the Trump family had improperly profited from cryptocurrency initiatives.
The legal filing states, “The corruption at issue is not subtle, and it is not hidden. Since returning to office, President Donald J. Trump and his family have built a cryptocurrency business and invited foreign states to route money to him by paying into it. Foreign money has answered.”
Additionally, the complaint asserts that an investment vehicle established by the Abu Dhabi government funneled $2 billion to the president through the USD1 stablecoin offering created by World Liberty Financial.
World Liberty Financial operates as a decentralized finance initiative established jointly by the president and his sons.
President Trump ceased his direct involvement with the enterprise following his inauguration in 2025.
The Thursday filing contends that the president purportedly granted Emirati leaders access to sophisticated artificial intelligence processors and issued a pardon to a convicted felon in exchange for the digital asset investment, citing a report published in February by The Wall Street Journal.
The lawsuit notes, “Although the President has dressed his corrupt arrangements in the language of new technology — tokens and stablecoins, holding companies and reserve yields — that vocabulary must not obscure what this is: the oldest form of public corruption, a public official taking money from a foreign power.”
It maintains that the president has generated $2 billion in “corrupt” gains stemming from these transactions.
The defendants listed in the litigation include President Trump, World Liberty, and Steve Witkoff, the U.S. Special Envoy to the Middle East.
While the president ran his campaign on a platform supporting the cryptocurrency sector and secured substantial financial support from the industry, various lawmakers in Washington have raised objections regarding the Trump family’s financial gains from digital asset projects.
Both the White House and Trump have consistently rejected claims of any conflicts of interest. Prior to the vote on the crypto Clarity Act in August, the president argued that Democratic critics of his family’s crypto projects had previously profited from trading stocks.
Frequently Asked Questions
Who filed the lawsuit against President Trump?
The lawsuit was filed on Thursday by J. Benjamin Greenberg, who is a Circle shareholder and former employee.
What is World Liberty Financial?
World Liberty Financial is a decentralized finance project co-founded by President Trump and his sons.
Who are the named defendants in the legal action?
The defendants named in the lawsuit are President Trump, World Liberty, and U.S. Middle East Special Envoy Steve Witkoff.
What company is Circle?
Circle is the financial technology company responsible for issuing the USDC stablecoin.
