Latest news with #Aqua1
Al Etihad
6 hours ago
- Business
- Al Etihad
UAE fund invests $100 million in US blockchain firm WLFI
27 June 2025 00:38 A. SREENIVASA REDDY (ABU DHABI)A UAE-based Web3 fund, Aqua 1 Foundation, has announced a $100 million investment in World Liberty Financial (WLFI), a decentralised finance (DeFi) platform linked to US President Donald Trump. The investment will be made through the purchase of WLFI's governance move was disclosed in a joint statement issued by both entities, which was shared as a press release by joint statement emphasised their shared ambition to accelerate the global shift from traditional finance to decentralised models. The governance tokens will allow Aqua 1 to participate in shaping WLFI's operational and strategic decisions, although they do not represent ownership or entitle holders to a share in the project's seeks to transform the fintech sector through blockchain technology, enabling access to financial services via digital tokens without intermediaries such as banks.'We're excited to work hand-in-hand with the team at Aqua 1,' said Zak Folkman, co-founder of WLFI. 'Aligning with Aqua 1 validates our blueprint for global financial innovation, as we have a joint mission to bring digital assets to the masses and strengthen our nation's standing as a champion and leader of cryptocurrency and blockchain technology.'The collaboration comes at a time of growing institutional interest in DeFi. Aqua 1's investment will also support WLFI's USD1 ecosystem — a suite of payment and treasury management tools aimed at broadening blockchain adoption among businesses."WLFI's USD1 ecosystem and RWA pipeline embody the trillion-dollar structural pivot opportunity we seek to catalyse," said Dave Lee, founding partner of Aqua 1. 'We want to be at the heart of this transformation where traditional capital markets merge with decentralised financial primitives.'Looking ahead, the two organisations plan to co-develop BlockRock, an institutional platform for real-world asset (RWA) tokenisation, and support the launch of Aqua Fund, a UAE-domiciled investment vehicle. The fund will focus on blockchain infrastructure, artificial intelligence integration, and global Web3 adoption, with plans to be listed on a secondary trading platform within Abu Dhabi Global Market (ADGM). WLFI has already raised hundreds of millions of dollars through the sale of governance tokens. International agencies have reported several recent high-value purchases by funds and high-net-worth individuals. In April, Abu Dhabi-based DWF Labs acquired $25 million worth of WLFI governance tokens, while Chinese-born crypto entrepreneur Justin Sun is reported to have spent $75 million on them.
The National
8 hours ago
- Business
- The National
UAE-based fund invests $100m in Trump's crypto project
A fund based in the UAE said on Thursday that it has purchased $100 million of World Liberty Financial tokens, which are part of US President Donald Trump's crypto project. In a joint statement, Aqua 1 and World Liberty Financial said the investment will help speed up the creation of a blockchain financial ecosystem and stablecoin integration. "We're excited to work hand-in-hand with the team at Aqua 1,' said Zak Folkman, co-founder of World Liberty Financial. The purchase makes Aqua 1 one of the largest investors in the Trump family project. The company has also received major backing from crypto billionaire Justin Sun. Aqua 1 is the second UAE-based firm to back World Liberty Financial in recent months. Abu Dhabi-based technology investment company MGX in May used World Liberty Financial's USD1 stablecoin to make a $2 billion investment in Binance. 'WLFI and Aqua 1 will jointly identify and nurture high-potential blockchain projects together,' said Aqua 1 founding partner David Lee. World Liberty Financial said it also plans to support the launch of the Aqua 1 Aqua Fund, which it said is a UAE-domiciled investment fund dedicated to accelerating the Middle East's digital economy. Aqua 1 also said it will assist World Liberty Financial to expand across South America, Europe, Asia and emerging markets. Both companies also plan to develop "BlockRock", a real world asset tokenisation platform focused on integrating traditional assets into the Web3 ecosystem.
Mint
10 hours ago
- Business
- Mint
UAE's Aqua 1 invests $100 million in Trump-linked crypto venture, amid outcry of influence peddling
Aqua 1 Foundation, a UAE-based Web3 investment fund, announced today a $100 million purchase of governance tokens in World Liberty Financial (WLF), solidifying its position as the largest individual investor in the controversial crypto venture closely tied to the Trump family. The deal marks the second major Middle Eastern investment in WLF within months, raising fresh questions about foreign influence and conflicts of interest surrounding the decentralized finance platform. The investment grants Aqua 1 significant voting rights over WLF's future development. According to a joint statement, the capital will accelerate WLF's plans to build blockchain-powered financial applications, including expanding its USD1 stablecoin and developing platforms for tokenizing traditional assets like real estate or commodities. The partnership also includes plans to co-develop "BlockRock," an institutional real-world asset (RWA) tokenization platform, and support the launch of Aqua 1's "Aqua Fund," a UAE-domiciled digital economy investment vehicle backed by regional stakeholders. "Aligning with Aqua 1 validates our blueprint for global financial innovation," said WLF co-founder Zak Folkman. 'We have a joint mission to bring digital assets to the masses and strengthen our nation's standing as a champion and leader of cryptocurrency.' Dave Lee, Aqua 1's founding partner, emphasized WLF's USD1 ecosystem represents a "trillion-dollar structural pivot opportunity" merging traditional finance with decentralized technology. This investment shines another spotlight on WLF's origins and ownership structure, which has drawn intense scrutiny since its launch: WLF was founded in 2024 and is primarily owned by DT Marks DEFI LLC, an entity controlled by Donald Trump and his family, holding approximately 60% (recently reduced from 75%). The Trump family business entity is entitled to 75% of all net revenues from WLF token sales. Eric Trump and Donald Trump Jr. are actively involved in management, while Barron Trump is listed as the project's "DeFi visionary." Initial co-founders Zachary Folkman and Chase Herro handle day-to-day operations. The Aqua 1 investment, following closely on the Abu Dhabi MGX deal, intensifies concerns among government ethics experts and critics of the Trump administration. They argue that these substantial foreign investments, particularly from nations with sovereign wealth funds and strategic interests, into a company enriching the sitting President's family create significant potential for influence peddling and conflicts of interest. The administration and WLF maintain there are no conflicts, pointing to Trump's assets being in a trust managed by his children.
