World Liberty Financial, a cryptocurrency venture with ties to former President Donald Trump, is facing renewed scrutiny over its choice of business partners. The concerns center on the firm’s partnership with AB DAO, a crypto organization whose recent flagship project involved individuals who were subsequently sanctioned by both the United States and Britain. The development has raised fresh questions about the company’s internal oversight and vetting procedures.
World Liberty Financial has stated that it carried out due diligence before entering the partnership and maintains that it has no direct relationship with any sanctioned individuals. However, an investigation by The Times found that the firm was unaware AB DAO had actively promoted a resort connected to Cambodia’s Prince Group. U.S. authorities have identified the Prince Group as a significant transnational criminal network.
The failure to detect AB DAO’s connection to the Prince Group-linked resort points to potential gaps in World Liberty Financial’s partner review process. The company’s claim of thorough due diligence appears inconsistent with its apparent lack of knowledge regarding AB DAO’s promotional activities. The findings suggest the firm may not have conducted a sufficiently comprehensive background review before formalizing the partnership.
This latest controversy adds to a growing list of governance concerns surrounding World Liberty Financial. The company recently finalized a separate deal worth $500 million that granted a firm backed by a UAE security adviser a 49 percent stake in the company. That transaction was completed shortly before Trump returned to office, drawing additional attention to the firm’s business relationships and decision-making.
Together, the two episodes have intensified scrutiny of how World Liberty Financial selects and evaluates its partners and investors. Critics and observers are questioning whether adequate safeguards are in place to prevent the firm from inadvertently associating with entities linked to criminal activity or foreign government interests. The pattern of partnerships has prompted broader concerns about transparency and accountability within the organization.
Originally reported by CoinDesk.
