According to reports, since the association between the two families, they have earned approximately $1.4 billion, largely due to the introduction of the USD 1 stablecoin. World Liberty’s recent transaction includes a $500 million sale, where nearly half of the company’s stake was transferred to an Emirati official linked to the country’s intelligence services. This deal has raised eyebrows among ethics and political experts, who argue that the First Family could be compromising national interests through dealings with foreign entities.
Both World Liberty and the White House have stated that President Trump and his long-time friend, peace envoy Steve Witkoff, are not involved in making decisions for the company.
Mr. Sui, who benefits from AB’s Cayman Islands-based company, mentioned that he signed a memorandum of understanding with World Liberty on September 17 last year after being connected with executives by Mr. Lin. However, he refrained from sharing copies of the agreement with reporters, citing confidentiality.
“As for the specifics of the transaction, this partnership is a standard commercial agreement that includes typical clauses regarding technical and ecosystem cooperation,” Sui noted, further stating that it “does not involve personal benefits or undisclosed arrangements.”
On October 14, shortly after Sui was seen with Trump Jr. and a young Witkoff, the U.S. imposed sanctions on the Prince Group. By November 12, when AB and World Liberty made their partnership public, the three sanctioned individuals had already been excluded from AB Digital Technology Resorts in Timor-Leste, though the resort project still appeared on the company’s website and social media.
“To the best of my knowledge, the Timor resort project wasn’t part of the discussion,” Sui stated during a conversation with World Liberty.
The system is operational, yet, with the assistance of AB and World Liberty, there’s not been a significant uptick in USD1 usage. Currently, users hold just over $3 million in stablecoins from AB DAO’s primary blockchain. Sui attributes this modest amount to the integration still being in the “testing phase.”
This figure is minuscule compared to the more than $4.4 billion in USD1 circulating across all blockchain platforms. Still, it represents an assertive effort by World Liberty to promote their cryptocurrencies over established stablecoins like Tether.
Trump Jr. and his brother Eric spoke about this at a lavish crypto forum organized by the company at the Mar-a-Lago family resort on February 18. CNBC remarked that one reason for stablecoins is to uphold the U.S. dollar’s prominence in the global financial landscape.
Eric Trump added that another motivation behind this push is their family’s exit from traditional banks following the January 6, 2021, incident at the U.S. Capitol.
“We experienced the most cancellations in the world during 2020 and 2021,” he commented.
“It’s quite satisfying that this sort of retaliation is occurring, and suddenly we start advocating for a new policy, which is to modernize our finances; ensuring that such situations never happen to anyone again.”
