A United Arab Emirates fund has agreed to invest $2 billion in a stablecoin (a cryptocurrency pegged to the dollar) at World Liberty Financial, the crypto firm

A United Arab Emirates fund has agreed to invest $2 billion in a stablecoin (a cryptocurrency pegged to the dollar) at World Liberty Financial, the crypto firm the president owns with his sons Eric Trump, Donald Trump Jr., and Barron Trump, among other partners. The deal, which the then-candidate unveiled in September from his Mar-a-Lago mansion in Palm Beach, Florida, represents tens of millions of dollars in profits for the firm. Over the past year, Trump-branded residential towers have opened in Dubai, United Arab Emirates and Jeddah, Saudi Arabia, through a Saudi partner with state ties. In April, a real estate developer unveiled a Trump-branded luxury residential and golf resort at a $5.5 billion state-owned megaproject in Doha, Qatar, at an event attended by Eric Trump, executive vice president of the Trump Organization, and a Qatari minister. The Trump administration and family’s company has plans for new towers in Riyadh, Saudi Arabia, and Abu Dhabi. In addition, sovereign wealth funds from the United Arab Emirates, Saudi Arabia and Qatar have pledged more than $3.5 billion to a venture capital fund led by Jared Kushner, Trump’s son-in-law. In addition, the Trump administration is in talks with the government of Qatar to accept a Boeing 747 valued at around $400 million to serve as a temporary replacement for the United States’ current Air Force One presidential aircraft, which are more than 40 years old, given the delays in Boeing’s contract to build two new presidential planes.