A cryptocurrency venture tied to U.S. President Donald Trump, World Liberty (WLFI), is under renewed scrutiny following a partnership with a firm whose blockchain project involved individuals later sanctioned by the U.S. and U.K.
WLFI, co-founded by Trump, integrated its USD1 stablecoin with the Southeast Asia-based blockchain project AB DAO. A recent investigation revealed that AB DAO had promoted a resort project linked to figures associated with Cambodia’s Prince Group, described by U.S. authorities as a major transnational criminal network.
The partnership was announced shortly after coordinated sanctions targeted Prince Group founder Chen Zhi and associates for alleged involvement in large-scale fraud. While WLFI stated it conducted due diligence and has no association with the sanctioned individuals, the report raises questions about the effectiveness of its vetting processes.
This development adds to existing concerns about World Liberty’s governance. Earlier reporting indicated a company backed by UAE national security adviser Sheik Tahnoon bin Zayed Al Nahyan agreed to acquire a 49% stake in WLFI, sparking potential conflict-of-interest discussions.