A Circle shareholder filed a lawsuit alleging that transactions tied to UAE entities unfairly advantaged the crypto ventures associated with Donald Trump.

The complaint names World Liberty Financial International and other parties, and seeks disclosure of disputed receipts and recovery of funds.

Claims and disputed transactions

Plaintiff Jay Benjamin Greenberg claims the first transaction involved a purchase of $500 million for a 49% stake in World Liberty Financial by an entity linked to the UAE ruling family.

The second transaction is described as a $2 billion investment by MGX into Binance, settled in WLFI's stablecoin USD1, which the plaintiff alleges yielded gains tied to Circle's USDC reserves.

Relief sought

Greenberg requests disclosure of the contested inflows, restitution of funds deemed illegally obtained and compensation for alleged damages to Circle's business interests.

Responses from involved parties

Circle said it did not participate in preparing the complaint and declined to be a plaintiff in the suit. WLFI has publicly rejected the allegations and denies wrongdoing.

The lawsuit names Donald Trump among defendants and targets the structure of the UAE-linked transactions as the central issue in the claimed competitive harm.