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Circle shareholder sues Trump and World Liberty over USD1 stablecoin deals

A Circle shareholder has accused President Donald Trump, Steve Witkoff and World Liberty Financial of corruption, alleging their crypto deals left USDC unable to compete.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Circle shareholder sues Trump and World Liberty over USD1 stablecoin deals
Image: Cointelegraph
Original reporting: Turner Wright, Cointelegraph

Key points

  • The filing centres on Abu Dhabi entity MGX's $2bn investment in Binance using the USD1 stablecoin in 2025.
  • Circle says it did not initiate, direct, authorise or take part in the filing.

A Circle shareholder has sued President Donald Trump, World Liberty Financial and US Special Envoy to the Middle East Steve Witkoff over crypto deals, Cointelegraph reports.

Greenberg, who says he holds 10,000 Circle shares, wants the court to rule that Trump breached the Constitution's Foreign Emoluments Clause and to order an accounting of foreign payments.

Trump and his three sons are co-founders of World Liberty, as is Zach Witkoff, son of the envoy named in the suit. A Circle spokesperson told Cointelegraph the company did not initiate, direct, authorise or participate in the filing, and declined to comment on pending litigation.

The suit lands shortly before the 2026 midterms, with early voting already under way in some states. Public Citizen has reported that Trump's crypto ventures earned him $1.4bn in 2025 while costing investors about $4.7bn.

Read the full story on Cointelegraph

Live updates on NewsFeeds:StablecoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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