At the center of the concern is World Liberty Financial, a crypto firm co-founded by Trump’s sons Donald Jr., Eric, and Barron, alongside Witkoff’s own sons, Zach and Alex.

The company has been active in Middle Eastern deals, most notably when its stablecoin USD1 was used by Abu Dhabi’s MGX fund for a $2 billion investment in Binance earlier this year.

The UAE initiative, launched in 2024 to back artificial intelligence projects, dovetailed with Trump’s AI cooperation agreement signed in Abu Dhabi in May.

Witkoff formally took his White House oath in May but had already been informally advising the administration since January. His new role places him at the table with foreign officials handling delicate negotiations over both the Russia–Ukraine war and diplomacy in the Middle East. That overlap, ethics experts warn, could pose problems if his private financial interests aren’t resolved quickly.

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The White House says Witkoff has submitted his disclosures and is working with counsel on divestment. Such processes can drag on, especially for officials with sprawling business empires. Witkoff already sold his real estate management company for $120 million and disclosed $34 million in distributions from other holdings, but records show crypto-linked assets remain in his portfolio.

Federal ethics law requires senior officials to offload assets that may intersect with their policy duties, though the president himself is exempt. Prolonged delays, however, risk creating conflicts if Witkoff takes part in decisions directly tied to regions or companies in which he still has a stake.

For now, the envoy remains a central figure in Trump’s foreign policy team — and one whose financial entanglements could shadow high-stakes negotiations abroad.

Source: Bloomberg

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