The Trump family denies that the $2 billion transaction with the UAE involves a conflict of interest for the "president"!

In response to The New York Times report on the UAE's $2 billion transaction with a major CEX exchange and the acquisition of advanced AI chips, former U.S. President Donald Trump's son Eric Trump publicly responded on CNBC on September 16, denying any conflict of interest and emphasizing that his father was "the first president to not profit from the presidency."

Event Background: UAE Investment in CEX and AI Chip Trading

According to The New York Times report:

March: The UAE investment company MGX announced an investment of 2 billion USD into CEX using the USD1 stablecoin issued by World Liberty Financial (WLFI).

May: The US government allows the UAE to acquire the rights to use hundreds of thousands of advanced AI chips.

Reports indicate that the timing of the two transactions is close, raising questions about potential quid pro quo.

The White House and the spokesperson for World Liberty both denied a direct connection between the two and stated that there is no evidence showing that there are exchange conditions between the transactions.

Eric Trump’s Response

In an interview with CNBC, host Joe Kernen directly asked Eric for his thoughts on the New York Times report.

Eric responded, "We're far from Hunter Biden... that guy is out there peddling finger art. My father is the first who hasn't profited from the presidency. We've always been serial entrepreneurs, and the emergence of cryptocurrency is because we were deprived of our bank accounts by all the banks and needed to find a new way out."

World Liberty Financial and Trump family's crypto layout

World Liberty Financial (WLFI): Founded by President Trump and his three sons, and supported by the Trump family and business figures.

WLFI stablecoin: Total supply is approximately 2.7 billion USD, with most coming from MGX's investment of 2 billion USD in the exchange.

Cryptocurrency Asset Appreciation: This month, after the WLFI token was listed on multiple exchanges, the Trump family's cryptocurrency asset value increased by nearly 5 billion dollars on paper.

Other involvement: Eric and Donald Jr. also participated in cryptocurrency mining and the holding company American Bitcoin.

Controversies and Ethical Standards

The New York Times pointed out that while there is no evidence showing a direct exchange between the two transactions, their proximity in time "tests the moral boundaries," especially regarding the prohibition of officials participating in matters that could benefit themselves or their relatives.

Conclusion

Eric Trump's defense is not only a direct response to the New York Times' questioning but also a reiteration of the Trump family's cryptocurrency strategy. As the association between World Liberty Financial's stablecoin and the UAE's investment in CEX continues to attract attention, the controversy surrounding the Trump family, crypto assets, and international investment is likely to continue to escalate.