The legal action, filed Thursday in Washington, argues that Trump’s financial ties to the UAE violate the U.S. Constitution’s prohibition against presidents accepting payments from foreign governments without congressional approval. Greenberg claims these dealings created illegal competition that harmed Circle investors. Central to the suit are two specific transactions: the $500 million sale of a 49% stake in World Liberty to a UAE royal-backed entity and the use of World Liberty’s stablecoin by Abu Dhabi’s MGX fund to facilitate a $2 billion investment in Binance.
Trump reported $1.4 billion in earnings from his crypto ventures last year, a figure that has drawn sharp criticism from lawmakers and stalled legislative efforts like the Clarity Act. While Greenberg is acting as an individual shareholder, Circle Internet Group distanced itself from the litigation, stating the company did not authorize or participate in the filing. Representatives for both the White House and World Liberty Financial dismissed the allegations as meritless, with White House spokesperson Anna Kelly labeling the suit a frivolous continuation of long-standing political narratives. The case seeks to force the disgorgement of profits and secure an order preventing further constitutional violations, adding to a complex legal backdrop for World Liberty, which is also currently embroiled in a separate dispute with billionaire Justin Sun.
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