Trump-Backed Crypto Faces Scrutiny Over Sanctioned Ties

A cryptocurrency project backed by members of the Trump family has come under scrutiny following revelations that one of its partners was linked to individuals sanctioned by the United States and United Kingdom for alleged ties to a major Southeast Asian scam network.

World Liberty Financial, founded in 2024 and co-owned by entities affiliated with the Trump and Witkoff families, announced a partnership in November 2024 with AB Network, a Southeast Asia-based blockchain platform. The collaboration allowed AB Network to integrate World Liberty Financial's USD1 stablecoin, a U.S. dollar-pegged digital asset, into its ecosystem. The deal aimed to expand cryptocurrency services, but an investigation published this week by the Organized Crime and Corruption Reporting Project and other outlets uncovered connections between AB Network and a proposed luxury blockchain-themed resort in Timor-Leste.

Corporate records examined in the probe showed that the resort project, promoted as a hub for cryptocurrency innovators with features like villas and a yacht club, involved three individuals later targeted in October 2024 sanctions against Cambodia's Prince Group. The conglomerate, led by Chen...