Circle shareholder lawsuit alleges Trump received foreign benefits in UAE crypto deals

A Circle shareholder has filed a federal lawsuit in Washington targeting two major UAE-linked crypto transactions, alleging that these deals violated the US Constitution’s Foreign Emoluments Clause and unfairly benefited President Donald Trump through business ties to World Liberty Financial. J. Benjamin Greenberg, a former Circle employee and current shareholder, initiated the legal action as a derivative complaint on behalf of Circle, the company that operates USDC, a leading dollar-backed stablecoin. The lawsuit names Donald Trump, World Liberty Financial, US Middle East special envoy Steve Witkoff, and four related limited liability entities as defendants. Greenberg claims that these foreign-backed deals gave World Liberty’s dollar-based stablecoin, USD1, an unfair competitive edge over USDC, to the detriment of Circle and its investors.

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