Trump’s Dark Money Crypto Empire

Aqua 1 Foundation invested $100 million in World Liberty Financial (WLF) last year, making it the biggest buyer of WLF governance tokens. WLF is the Trump family’s crypto venture.

But what is Aqua 1? It’s a UAE-registered investment firm run by Guren “Bobby” Zhou, who is under investigation in the UK for his alleged role in a major money laundering scheme. He’s also defaulted on $2.4 million in loans in China, where he is on a registry as a “dishonest judgment debtor.” His most recent business venture, as a hardwood flooring retailer, went belly up. So where did Zhou come upon $100 million to invest in WLF?

Good question.

The Bank Secrecy Act requires “financial institutions” to document the source of customer funds before accepting the money. Did WLF do so? An official at a Swiss firm noted that Zhou’s investment would ordinarily trigger the highest level of regulatory scrutiny because the Trumps are “politically exposed persons” with a heightened vulnerability to influence peddling.

Or perhaps it’s a heightened appreciation for influence peddling: Last year, Trump collected $1.4 billion from his crypto businesses, mostly from anonymous sources.

WTF.