October 22, 2026 · Corruption, Ethics & Self-Dealing
· Ethics and financial event
Developing
Circle Shareholder Sues Trump, Alleging He 'Corruptly' Profited From $2 Billion in UAE Crypto Deals
Circle shareholder Benjamin Greenberg filed a derivative suit Oct. 22 against Trump and World Liberty Financial (WLF), the crypto venture Trump co-founded with his sons, alleging two WLF-UAE deals violated the Foreign Emoluments Clause: a $500 million stake sale to a royal-family-backed vehicle, and fund MGX's use of WLF's stablecoin to fund a $2 billion Binance stake. Greenberg, saying WLF competes with Circle, seeks disgorgement and damages.
Trump reported $1.4 billion in crypto earnings last year, including from WLF. Emoluments suits against him in his first term failed, and courts have doubted private plaintiffs' standing.
Circle said an individual shareholder filed the suit, not the company. WLF called the claims "without merit." The Justice Department did not comment; the case's status beyond filing is not yet reported.
Trump reported $1.4 billion in crypto earnings last year, including from WLF. Emoluments suits against him in his first term failed, and courts have doubted private plaintiffs' standing.
Circle said an individual shareholder filed the suit, not the company. WLF called the claims "without merit." The Justice Department did not comment; the case's status beyond filing is not yet reported.
Sources
- Trump and crypto firm sued for profiting from foreign government — Bloomberg (via The Spokesman-Review), 2026-10-22