Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 7 days ago
The second deal is an agreement to supply a substantial number of advanced computer chips to Emirati AI firms, including G42 — chips which had previously been restricted due to national security concerns. Just as the UAE’s massive USD1-denominated deal was highly lucrative for the Trumps, this chip deal will be highly lucrative for the UAE and the royal family. The links between the two deals are numerous. Trump and Steve Witkoff have been involved in both World Liberty and in the UAE chip deal. Steve Witkoff is close with Marty Edelman, who serves as general counsel for G42, one of the Emirati technology firms that will receive a substantial portion of the chips. AI and Crypto Czar David Sacks was also a key part of the chip negotiations, despite his own conflicts of interest surrounding the AI industry, in which he and his firm are heavily invested. The UAE has invested in Sacks’ Craft Ventures firm, from which Sacks has not divested. Craft Ventures also invests in BitGo, the crypto company that provides custody services for World Liberty Financial’s stablecoin. A top employee of G42 is simultaneously “chief strategic adviser” to World Liberty. The MGX firm, which made the $2 billion Binance investment, was established with help from G42, and the two firms share a chairman in Sheikh Tahnoon. Zach Witkoff, a co-founder of World Liberty, has described Sheikh Tahnoon as “a close family friend”. A White House official has described the Times story as “fake news”, a
The second deal is an agreement to supply a substantial number of advanced computer chips to Emirati AI firms, including G42 — chips which had previously been restricted due to national security concerns. Just as the UAE’s massive USD1-denominated deal was highly lucrative for the Trumps, this chip deal will be highly lucrative for the UAE and the royal family. The links between the two deals are numerous. Trump and Steve Witkoff have been involved in both World Liberty and in the UAE chip deal. Steve Witkoff is close with Marty Edelman, who serves as general counsel for G42, one of the Emirati technology firms that will receive a substantial portion of the chips. AI and Crypto Czar David Sacks was also a key part of the chip negotiations, despite his own conflicts of interest surrounding the AI industry, in which he and his firm are heavily invested. The UAE has invested in Sacks’ Craft Ventures firm, from which Sacks has not divested. Craft Ventures also invests in BitGo, the crypto company that provides custody services for World Liberty Financial’s stablecoin. A top employee of G42 is simultaneously “chief strategic adviser” to World Liberty. The MGX firm, which made the $2 billion Binance investment, was established with help from G42, and the two firms share a chairman in Sheikh Tahnoon. Zach Witkoff, a co-founder of World Liberty, has described Sheikh Tahnoon as “a close family friend”. A White House official has described the Times story as “fake news”, a
The second deal is an agreement to supply a substantial number of advanced computer chips to Emirati AI firms, including G42 — chips which had previously been restricted due to national security concerns. Just as the UAE’s massive USD1-denominated deal was highly lucrative for the Trumps, this chip deal will be highly lucrative for the UAE and the royal family. The links between the two deals are numerous. Trump and Steve Witkoff have been involved in both World Liberty and in the UAE chip deal. Steve Witkoff is close with Marty Edelman, who serves as general counsel for G42, one of the Emirati technology firms that will receive a substantial portion of the chips. AI and Crypto Czar David Sacks was also a key part of the chip negotiations, despite his own conflicts of interest surrounding the AI industry, in which he and his firm are heavily invested. The UAE has invested in Sacks’ Craft Ventures firm, from which Sacks has not divested. Craft Ventures also invests in BitGo, the crypto company that provides custody services for World Liberty Financial’s stablecoin. A top employee of G42 is simultaneously “chief strategic adviser” to World Liberty. The MGX firm, which made the $2 billion Binance investment, was established with help from G42, and the two firms share a chairman in Sheikh Tahnoon. Zach Witkoff, a co-founder of World Liberty, has described Sheikh Tahnoon as “a close family friend”. A White House official has described the Times story as “fake news”, a
Trump business interests The New York Times published a story on September 15 highlighting the “extraordinary” “confluence” of two business deals, in which Trump and various White House officials appeared to trade access to US computer chips to the United Arab Emirates for personal profits from World Liberty Financial. (The Times was careful to note that “there is no evidence that one deal was explicitly offered in return for the other.”) They’re referring to the $2 billion investment by the Emirati MGX into Binance, which was denominated in USD1, the stablecoin issued by the Trump family’s World Liberty Financial business [I83]. The New Yorker estimated that Trump and his family will personally profit around $168 million from this deal alone if the assets remain in USD1 through the remainder of Trump’s term.1 In addition to the Trump sons’ direct involvement, Zach Witkoff is CEO and a co-founder of World Liberty. He’s also the son of longtime Trump ally and now Special Envoy to the Middle East, Steve Witkoff, who himself was also involved in World Liberty early on. The company claimed in May that he was “in the process of fully divesting from WLFI”, though he continued to have an unspecified financial interest in the company at least as of August.
Trump business interests The New York Times published a story on September 15 highlighting the “extraordinary” “confluence” of two business deals, in which Trump and various White House officials appeared to trade access to US computer chips to the United Arab Emirates for personal profits from World Liberty Financial. (The Times was careful to note that “there is no evidence that one deal was explicitly offered in return for the other.”) They’re referring to the $2 billion investment by the Emirati MGX into Binance, which was denominated in USD1, the stablecoin issued by the Trump family’s World Liberty Financial business [I83]. The New Yorker estimated that Trump and his family will personally profit around $168 million from this deal alone if the assets remain in USD1 through the remainder of Trump’s term.1 In addition to the Trump sons’ direct involvement, Zach Witkoff is CEO and a co-founder of World Liberty. He’s also the son of longtime Trump ally and now Special Envoy to the Middle East, Steve Witkoff, who himself was also involved in World Liberty early on. The company claimed in May that he was “in the process of fully divesting from WLFI”, though he continued to have an unspecified financial interest in the company at least as of August.
Trump business interests The New York Times published a story on September 15 highlighting the “extraordinary” “confluence” of two business deals, in which Trump and various White House officials appeared to trade access to US computer chips to the United Arab Emirates for personal profits from World Liberty Financial. (The Times was careful to note that “there is no evidence that one deal was explicitly offered in return for the other.”) They’re referring to the $2 billion investment by the Emirati MGX into Binance, which was denominated in USD1, the stablecoin issued by the Trump family’s World Liberty Financial business [I83]. The New Yorker estimated that Trump and his family will personally profit around $168 million from this deal alone if the assets remain in USD1 through the remainder of Trump’s term.1 In addition to the Trump sons’ direct involvement, Zach Witkoff is CEO and a co-founder of World Liberty. He’s also the son of longtime Trump ally and now Special Envoy to the Middle East, Steve Witkoff, who himself was also involved in World Liberty early on. The company claimed in May that he was “in the process of fully divesting from WLFI”, though he continued to have an unspecified financial interest in the company at least as of August.
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