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Circle shareholders are suing Donald Trump and World Liberty Financial, alleging that Trump violated the U.S. Constitution's foreign emoluments clause through two UAE-linked transactions, including the sale of a 49% stake in World Liberty for $500 million and a $2 billion investment in Binance via USD1 stablecoin, according to Bloomberg.
According to Bloomberg, Circle shareholders are suing former U.S. President Donald Trump and World Liberty Financial, alleging that Trump violated the U.S. Constitution's foreign emoluments clause through two UAE-linked transactions. These include the sale of a 49% stake in World Liberty for $500 million and a $2 billion investment in Binance via USD1 stablecoin. The plaintiffs claim these transactions harmed Circle investors through unfair competition and are seeking to recover alleged illicit profits and damages. Circle stated it is not involved in the lawsuit, while World Liberty has denied the allegations.
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