Does the Trump family benefit from Abu Dhabis crypto investment?

The last stop of Trump's journey through the golf region is Abu Dhabi. The Emirate wants to invest two billion dollars through the Trump family of crypto companies. Who benefits from it? And is that right?

“Scam” – fraud – called US President Donald Trump in his first term cryptocurrencies and wanted to restrict the digital currencies business. But that has changed. In the meantime, the US President and his family have entered the lucrative business.

On the one hand, the so -called meme coin is in its name – a cryptocurrency without benefits, a speculation object like a chip in the casino. After its introduction in January, three days before Trump's appointment as President, his value of a few cents rose to almost $ 75, in order to then fall again, to about $ 14.

For legal professor Frank Emmert from the US state of Indiana it is clear who the winner is: the US president and his family. Anyone who bought coins has lost a lot of money since then, says Emmert.

The investment could therefore only be understood as support for Trump. The winning of the Trump coins for the most part flows into the family-owned companies CIC Digital and Fight Fight Fight, which are managed by Trump's sons.

Investments from Abu Dhabi

The World Liberty Financial crypto trading platform is also controlled by the Trump family. The MGX company wants two billion over this platform Invest US dollars in the Binance cryptocurrency exchange.

MGX is mainly worn by Abu Dhabi, the Emirate of the United Arab Emirates that Trump visits on his current journey today.

The White House denies every personal benefit for the American president. The undertakings of the sons had nothing to do with the president.

Trump's wife Melania is also with her own meme coin. How much the family deserves with their commitment in the crypto industry in the first few months of this presidency is not published. The Financial Times newspaper estimates that their crypto companies earned around $ 3,350 million by the two meme coins of Donald and Melania Trump alone.

No legal prohibitions

Emmert is convinced that the US President knows exactly what he is doing. Trump uses every legal option. In the US legal system there are no regulations that would prohibit the President of transferring his business to family members, explains Professor Emmert. There are limits for campaign donations, but Trump is not in the election campaign.

Another law prohibits valuable gifts from foreign states, but investments in cryptocurrency do not go directly to the president. And since the constitution is 250 years old, such problems have not yet been considered.

Washington is currently working on laws that should regulate the handling of cryptocurrencies for the future. But critics fear that the restrictions for the crypto industry will not be very large. Because those who are working on the draft law are partly involved in the industry, such as the head of the SEC supervisory authority, Paul Atkins.

“Sustainable damage to the legal system”

But Trump critics currently see hardly any way of how the conflicts of interest could be combated between the presidency, which was to serve the well-being of the people, and the personal business interests of the US President.

Legal professor Emmert fears that Trump's testing of the limits of the feasible could be sustainably damaged in the USA in the United States. Former political advisors, such as the lawyer Richard Painter, who worked for the White House under George W. Bush, are also frustrated.

His advice to Trump: Immediately out of cryptocurrency that sell companies – and focus on being a good president. So far, it has not looked like that Trump sticks to this advice.