Latest news with #UAE-domiciled
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.
Zawya
19-02-2025
- Business
- Zawya
Al Ramz continues regional expansion with Bahrain Bourse market making license
New license reinforces Al Ramz's leadership in regional market making Expansion aims to further develop regional footprint Dubai, UAE – Al Ramz Corporation PJSC (ALRAMZ:UH), a leading financial services institution with a 25-year legacy in capital markets, has marked another milestone in its regional expansion strategy with the granting of a market maker license by the Bahrain Bourse (BHB). This license follows Al Ramz's recent approval from the Muscat Stock Exchange (MSX), reinforcing its regional expansion. The license cements Al Ramz's robust role as a key enabler of market efficiency in the GCC, bringing its proven market-making expertise to Bahrain. With a track record of enhancing price discovery, narrowing spreads, and stabilizing trading environments in the UAE, Al Ramz is well-positioned to support in further developing the financial sector as the engine of the country's economy. Karim Shoeib, Group CEO – Investment Banking, Al Ramz, stated: 'securing our market-making license in Bahrain represents another strategic step in our plans to further consolidate our already strong presence across the GCC region. In extending our reach, we demonstrate our commitment to playing a leading role in regional markets by reinforcing investor confidence and upholding the highest standards of market integrity.' 'Our expansion into Bahrain – in support of the goals of the country's ambitious national vision – is underpinned by our robust business model, which has evolved through the development of advanced quantitative strategies, algorithmic trading capabilities, and well-established governance frameworks. By optimizing order flow, enhancing price discovery, and reducing volatility, we aim to drive market efficiency while ensuring ethical, responsible market practices. With our operations supported by a highly skilled, vastly experienced team and state-of-the-art technology and innovation, we look forward to offering a solid contribution to the ongoing development of Bahrain's financial ecosystem, and to helping increase its resilience and stability.' Al Ramz's most recent expansion underscores its commitment to supporting regional capital markets with best-in-class market-making capabilities. Leveraging insights from its governance leadership in liquidity provision, the firm remains dedicated to fostering ethical and sustainable financial markets while ensuring transparency, market stability, and regulatory alignment. As a publicly listed company on the Dubai Financial Market, Al Ramz continues to scale its regional operations across market making, asset management, brokerage, and corporate finance, reinforcing its leadership in the GCC's financial ecosystem. ABOUT AL RAMZ Founded in 1998, AI Ramz is a UAE-domiciled public joint stock company listed on the Dubai Financial Market and regulated by the UAE Securities and Commodities Authority and the Dubai Financial Services Authority. Al Ramz provides a broad spectrum of services, including asset management, corporate finance, brokerage, security margins, market making, liquidity providing, public offering management and financial research. FOR MEDIA INQUIRES, PLEASE CONTACT: Jad El Cheikh Senior Manager – Client Experience Weber Shandwick MENAT Email:
