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3471On May 1, two stories dropped that raised eyebrows and questions about timing, money, and influence.
The New York Times reported that a UAE-backed investment firm is pouring $2 billion into a cryptocurrency project tied to President Donald Trump.
Just hours later, Bloomberg revealed that the Trump White House is considering easing restrictions on the sale of Nvidia AI chips to the UAE.
“Totally Unrelated”
Ian Sams, a senior White House communications aide under President Biden, summed up the reaction on X (formerly Twitter): “Two stories, same day, I’m sure totally unrelated…”
The announcement of the $2 billion deal came from Zach Witkoff, co-founder of Trump’s crypto venture World Liberty Financial, during a panel at a major crypto conference in Dubai.
Eric Trump, who manages the Trump Organization, appeared alongside him onstage.
According to the New York Times, the deal involves the UAE-backed MGX fund using a stablecoin created by Trump’s firm, known as USD1, to conduct a massive transaction with Binance, the world’s largest crypto exchange.
Trump is listed as the company’s “chief crypto advocate.”
Witkoff told the crowd, “We thank MGX and Binance for their trust in us. It’s only the beginning.”
Millions at Stake, Ethics in Question
World Liberty Financial has already sold $550 million worth of its main crypto token, $WLFI. The new $2 billion transaction could generate tens of millions of dollars a year for the Trump family.
Critics say the deal blurs the line between public service and private profit.
“Trump doesn’t even hide the fact he’s for sale,” wrote one user on X.
Another said, “They aren’t even hiding the corruption anymore.”
One of the biggest concerns is that the deal formally links Trump’s crypto company to Binance, which pleaded guilty in 2023 to violating U.S. money-laundering laws.
Binance is currently under U.S. Treasury Department supervision. Its founder, Changpeng Zhao, recently served four months in federal prison and is reportedly seeking a pardon from the Trump administration.
AI Chips, F-35s, and Trillions in Investments
The same day, Bloomberg reported that the Trump administration is weighing whether to relax AI chip export restrictions to the UAE.
Trump is expected to visit the Gulf region, including the UAE, from May 13 to 16, right as companies are set to comply with the Biden-era “AI diffusion rule,” which caps exports of powerful chips like those made by Nvidia.
Trump has reportedly questioned why the U.S. can’t sell AI chips to a country that is approved to buy F-35 fighter jets.
The UAE has promised to invest up to $1.4 trillion in U.S. sectors including AI, semiconductors, and energy.
The possible policy change is being debated within the White House and the Commerce Department.
While no final decision has been made, even the consideration has given optimism to UAE officials.
Peng Xiao, CEO of Abu Dhabi’s AI firm G42, said the UAE is making “very good and tangible progress.”
Now Add a $400 Million Plane
The stories of Trump’s foreign business ties didn’t stop with the UAE.
Just days later, controversy swirled around another high-dollar international arrangement, this time involving Qatar.
President Trump is defending a plan for the U.S. to accept a $400 million Boeing 747-8 from the Qatari royal family for temporary use as Air Force One.
In a Truth Social post, Trump called the deal “a very public and transparent transaction” and dismissed Democratic criticism as “unfounded and politically motivated.”
He wrote, “So the fact that the Defense Department is getting a GIFT, FREE OF CHARGE… so bothers the Crooked Democrats that they insist we pay, TOP DOLLAR, for the plane.”
Critics, including Senate Minority Leader Chuck Schumer, see the gesture as a serious ethics concern. “Nothing says ‘America First’ like Air Force One, brought to you by Qatar,” Schumer said.
Qatari officials say the deal is still under legal review.
But the potential transfer, paired with the crypto and AI chip stories, deepens the narrative that foreign governments are gaining favor and influence through Trump’s private and presidential dealings.
Criticism Mounts
Reactions online have been sharp. One user said, “It would have been cause for impeachment in another era.”
Another added, “Pay to play. Wake up, America. The president is a complete crook.”
Some also noted the potential for this deal to benefit struggling U.S. chipmaker Intel.
The administration is reportedly discussing whether to involve Intel in the UAE talks.
A Perfect Storm of Profit and Power
In just one week, Trump’s private company received a $2 billion crypto investment from a foreign government, the administration explored softening AI export policy for that same government, and the White House defended plans to accept a $400 million aircraft from another Gulf monarchy.
While nothing illegal has been confirmed, critics say the optics alone are enough to raise serious ethical concerns.
As Zach Witkoff said during the panel in Dubai, “This is just one incredible country… One of the most innovative, if not the most innovative, country on planet Earth today.”
Eric Trump quickly chimed in: “You’re not going to be walking into the Four Seasons using USD1. You’re going to be walking into the Trump International Hotel and Tower.”
The overlap between Trump’s business and his presidential decisions is becoming increasingly hard to ignore.
Whether that overlap is coincidence or conflict is now the subject of growing public scrutiny.
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