A shareholder of Circle has filed a lawsuit against President Donald Trump and his crypto venture, World Liberty Financial. The plaintiff alleges that two transactions involving entities from Abu Dhabi violated the Foreign Emoluments Clause of the US Constitution.
The complaint, filed in the US District Court for the District of Columbia, claims these deals provided World Liberty Financial with an unfair competitive advantage. The plaintiff estimates that these actions resulted in annual losses for Circle’s USDC stablecoin ranging from $70 million to $82 million.
The disputed transactions include a $500 million sale of a 49% stake in World Liberty to an entity linked to Sheikh Tahnoon bin Zayed Al Nahyan, and a $2 billion purchase of the USD1 stablecoin by the Abu Dhabi-based MGX fund.
The lawsuit also names US Special Envoy to the Middle East Steve Witkoff as a defendant. The plaintiff is seeking both compensatory and punitive damages, arguing that the involvement of foreign government-linked capital in a family business constitutes a constitutional breach.
World Liberty Financial was established in 2024 by Donald Trump and his sons. According to financial disclosures, Trump’s earnings from crypto-related ventures exceeded $1,4 billion in 2025. The case has not yet proceeded to trial.
