A shareholder of Circle Internet Group has initiated legal action against Donald Trump and his cryptocurrency venture, World Liberty Financial. The lawsuit alleges that the President violated the U.S. Constitution's Foreign Emoluments Clause by accepting payments linked to the United Arab Emirates. Specifically, the complaint targets a $500 million stake acquisition by an entity associated with the UAE's national security adviser and a $2 billion stablecoin purchase by an Abu Dhabi investment fund. The plaintiff claims these transactions constitute illegal foreign government payments that have financially harmed other market participants. While the lawsuit seeks the return of profits and a halt to alleged constitutional violations, the White House and World Liberty Financial have dismissed the claims as politically motivated and meritless. Circle Internet Group clarified that it did not authorize or participate in the filing of this legal challenge.
Source : Livemint
Photo : Livemint
