Questions over Middle Eastern investments and access to U.S. technology spilled into the political spotlight this week, with Eric Trump openly defending both his family and their business ventures.
During an appearance on CNBC, Trump was asked about reports connecting the United Arab Emirates to a pair of high-profile moves earlier this year: a multibillion-dollar crypto investment and a subsequent agreement giving the Gulf nation a path to cutting-edge computer chips. The overlap, detailed in a New York Times investigation, triggered speculation about whether the deals blurred ethical lines for the White House.
Eric Trump brushed aside those concerns, saying his family’s involvement in crypto came out of necessity after being “debanked” by traditional institutions. He argued that their projects — from World Liberty Financial to American Bitcoin — are part of a long history of building businesses outside of government. In a pointed remark, he contrasted his family’s record with Hunter Biden’s art sales, which have previously drawn criticism.
At the center of the debate is MGX, a UAE investment firm that funneled $2 billion into Binance using World Liberty’s newly launched USD1 stablecoin in March. Only weeks later, Washington allowed the UAE to secure hundreds of thousands of advanced AI chips, raising eyebrows about timing. Officials from both the White House and World Liberty have denied that the two developments were connected.
Despite the controversy, World Liberty’s growth has been staggering. Backed by President Trump, his sons, and real estate developers Steve and Zach Witkoff, the venture’s stablecoin supply has swelled to $2.7 billion, according to CoinMarketCap. The WLFI token, listed on major exchanges, has added billions in on-paper wealth to the Trump family portfolio in just months.
For Eric Trump, the scrutiny reflects politics more than substance. He cast his father as a president who never personally profited from public office and framed the family’s crypto empire as another example of entrepreneurial persistence. Whether critics see it that way is another matter — but the rapid rise of Trump-backed digital assets ensures the conversation isn’t going away.
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Source: https://coindoo.com/eric-trump-defends-crypto-fortune-amid-uae-chip-deal-controversy/