A legal challenge by an investor in Circle claims President Donald Trump illegally profited from foreign entities in violation of the U.S. Constitution. The lawsuit targets Trump and World Liberty Financial over two transactions linked to the United Arab Emirates, including the $500 million sale of a 49% stake in World Liberty and a $2 billion Binance investment funded via USD1 stablecoins. The plaintiff seeks damages and the return of profits that they claim were earned through unfair competition.
The filing comes after Vice President JD Vance defended the president on Oct 19, stating that Trump is permitted to earn a living and that there is no evidence he or his sons are selling official access. Critics point to 2025 reports that the 220 largest holders of Trump’s cryptocurrency spent $140 million for exclusive dinner access and a meme coin contest that offered prizes of access to the president in his official capacity. World Liberty has denied the allegations, and Circle stated it is not part of the lawsuit.
