Circle shareholders sue Trump and WLFI, alleging they sought personal gain through UAE-related deals.

BlockBeats news, October 22: Circle Internet Group shareholder Joel Greenberg has sued US President Trump's family crypto project World Liberty Financial in a US federal court, alleging that Trump violated the Foreign Emoluments Clause of the US Constitution through two transactions involving the UAE, which prohibits accepting benefits from foreign governments without congressional approval.

The complaint alleges that before Trump's second term began, World Liberty Financial sold a 49% stake for $500 million, with funds reportedly from the UAE; another transaction involved a $2 billion purchase of the Trump family's digital currency by an investment fund established by the UAE government. The plaintiff alleges these transactions earned Trump millions of dollars and expanded the circulation of his stablecoin.

Greenberg holds approximately 10,000 shares of Circle stock and has filed a shareholder derivative lawsuit in the company's name, seeking the court to recover payments Trump received from the relevant transactions, require disclosure of other foreign cryptocurrency payments, and award unspecified damages. The White House and World Liberty Financial have not yet responded to requests for comment, and the allegations have not been adjudicated by a court.