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Time of India
11-07-2025
- Business
- Time of India
Donald Trump family now earns whopping $500 million from cryptocurrency business. Who are paying them?
Donald Trump 's World Liberty Financial crypto business has been the subject of curiosity and of all the riddles wrapped in the digital wallets sending funds to American President, a little-known entity last month became the biggest. A venture calling itself Aqua 1 Foundation and saying it is based in the United Arab Emirates announced in late June it had bought $100 million worth of World Liberty's crypto tokens, becoming the largest publicly known investor in the business. Donald Trump Family Income from Cryptocurrency The Trump family receives three-quarters of all token proceeds from World Liberty, meaning the purchase by Aqua 1 will have injected tens of millions of dollars into their personal coffers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Record di vendite in Italia per il bracciale anti-zanzare! Liberati dalle zanzare e dormi tranquillo ZSONIC Acquista ora Undo The Trumps have now earned around $500 million from World Liberty since the crypto platform was launched last fall, Reuters calculations show. Aqua 1 Foundation in UAE Live Events A review by Reuters of corporate registries, Aqua 1's digital profile and other public information reveal almost nothing about the source of its capital or the person it named as its founding partner, Dave Lee. White House deputy press secretary Anna Kelly told Reuters that while pursuing a pro-crypto agenda, the president has taken steps to insulate himself from his family's gains. 'President Trump is dedicated to making America the crypto capital of the world and revolutionizing our digital financial technology,' Kelly said in an emailed statement. 'His assets are in a trust managed by his children, and there are no conflicts of interest,' she said. Aqua 1 describes itself on its website as a 'Web3-native fund based in UAE with a global outlook.' Such funds invest in blockchain and crypto firms making products for a futuristic idea of a decentralized internet. Crypto funds seeking to register in the UAE typically choose Abu Dhabi Global Market, the Dubai International Finance Centre or the UAE's Securities and Commodities Authority, said Zainab Kamran, a lawyer at NeosLegal who specializes in digital assets. Aqua 1 or Aqua 1 Foundation do not appear in the register of UAE Securities and Commodities Authority-licensed companies, either. Aqua 1's website was created in May, a month before it announced its investment, according to two web domain trackers, with the names of its registrants redacted. The website contains no information on Aqua 1's leadership or financial backers. Who is Dave Lee? Scant public information exists about Lee. An X account in his name, registered in 2023, has made only a handful of posts, starting with an announcement of the World Liberty deal. The account calls Lee an 'investor and dreamer,' with a profile picture that features a manga-style portrait of a young man in a bow tie, along with Brazilian, Chinese and U.S. flags. It cites as his locations Sao Paulo, New York, Hong Kong and Abu Dhabi. Aqua 1 Cryptocurrency Record Aqua 1's prior crypto trades suggest a thin investment record. Data from crypto tracker Arkham shows the only large outgoing trades from a wallet tagged ' were two transfers totaling $80 million to World Liberty in early June. It had also made transfers of $9 million in March and $3 million in April, both to anonymous crypto wallets. Between March and June, it received about $90 million from an account at the OKX crypto exchange. Aqua 1's assets under management total $100 million, according to a profile on the Medium social publishing platform, suggesting that the World Liberty deal is its only current investment. World Liberty -Trump Organization Crypto Business The identities of nearly all of the million-dollar buyers of the World Liberty tokens, which go by $WLFI, are hidden behind anonymous digital wallets. The personal and business backgrounds of several of the top buyers of the tokens, however, are widely known, including those of China-born investor Justin Sun, who with a $75 million investment was the previous biggest publicly known buyer, and Dubai-based market maker DWF Labs, whose managing partner is Andrei Grachev, a crypto entrepreneur from Russia. Representatives for DWF Labs, which in April announced the purchase of $25 million in World Liberty tokens, said the firm does not know Aqua 1 or Lee. World Liberty and Trump's other crypto businesses are facing growing criticism from his U.S. political rivals and ethics experts over their potential for influence peddling. The potential for conflicts of interest that has accompanied Trump's crypto ventures as his administration shapes regulations on the sector have also drawn criticism. In March, UAE officials committed to a 10-year, $1.4 trillion investment plan in the United States after meeting with Trump. Richard Painter, a professor at University of Minnesota's law school and former chief ethics lawyer for President George W. Bush said the lack of transparency on investors in the Trump family's crypto business, such as Aqua 1, undermined public confidence in the government. Without more information, Painter said, 'everybody assumes the worst' in terms of foreign actors trying to influence the White House. "We ought to know who is sending money to the president,' he said. FAQs Q1. Who is President of USA? A1. President of USA is Donald Trump. Q2. What is name of Donald Trump's Cryptocurrency business entity? A2. Donald Trump's World Liberty Financial crypto business.
Time of India
07-07-2025
- Business
- Time of India
EAM Jaishankar meets counterparts from Russia, Iran, Mexico on sidelines of BRICS Summit
External Affairs Minister S Jaishankar has met his counterparts from Russia, Iran and Mexico and discussed bilateral cooperation and global issues . Jaishankar met these leaders on Sunday the sidelines of the 17th BRICS Summit here in Brazil. Jaishankar, during his meeting with Russian Foreign Minister Sergey Lavrov , discussed bilateral cooperation, West Asia, BRICS and the Shanghai Cooperation Organisation (SCO). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Record di vendite in Italia per il bracciale anti-zanzare! Liberati dalle zanzare e dormi tranquillo ZSONIC Acquista ora Undo "Good to meet with FM Sergey Lavrov of Russia on the sidelines of #BRICS2025," Jaishankar posted on X. He also met his Iranian counterpart Seyed Abbas Araghchi , and discussed regional developments. Live Events "Glad to meet FM @araghchi of Iran this (Sunday) evening. Our conversation focused on recent regional developments," Jaishankar said. During his meeting with the Secretary of Foreign Affairs of Mexico, Juan Ramon de la Fuente , Jaishankar discussed the advancement of bilateral partnership, focusing on health, digital, technology and space. The BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade. BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates, with Indonesia joining in 2025.
Time of India
26-06-2025
- Health
- Time of India
Free treatment at one govt hospital in every Haryana district from Aug 15: Haryana chief minister Nayab Singh Saini
Kurukshetra: Haryana chief minister Nayab Singh Saini has announced a major healthcare initiative under which free treatment for all diseases will be provided at one govt hospital in each district headquarters starting Aug 15. Addressing villagers in Kishanpura and Girdarpur, the CM said these hospitals will be equipped with modern facilities and will also offer services under the Ayushman Bharat scheme. He also visited and interacted with residents of Ban, Behlolpur, and Jalkheri villages. To ensure efficient referrals, committees will be constituted at each of these hospitals to decide whether patients need to be sent to higher institutions like PGI Chandigarh or other tertiary care centres. Saini made these announcements during direct interactions with villagers at the community centre in Kishanpura and the Gurdwara hall in Girdarpur. Listening to citizens' concerns, the CM issued instructions to relevant departments for immediate action. On this occasion, he also participated in a tree plantation drive with local residents and announced a grant of Rs 21 lakh each for developmental works in both villages. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta pulseira repelente de mosquitos bate todos os recordes de vendas em Portugal ZSONIC Compre já Undo Responding to demands submitted by the sarpanch of Kishanpura and Girdarpur, Saini assured that all requests would be fulfilled through relevant departments. He emphasised his deep connection with the Ladwa constituency, saying, "It is because of the people of Ladwa that I am the chief minister. Today, Ladwa holds a special place in Haryana's development vision." The CM shared that over Rs 110 crore worth of development projects are currently under way in Ladwa and praised the cooperation of district officials in resolving public issues promptly. Touching on the agricultural sector, Saini noted that the govt is procuring all crops at minimum support price (MSP) and bridging price gaps through the Bhavantar Bharpai Yojana. Additionally, efforts are under way to provide housing to the economically weaker sections, reflecting the BJP govt's commitment to working in "mission mode" across the state. Saini invited people to freely submit their grievances in writing to DC Neha Singh, other local officials, or the CM's office. "In case of an emergency, people are welcome to come and meet me in Chandigarh," he added. He also took the opportunity to reflect on history, observing that June 25 marked 50 years since the imposition of Emergency in India, calling it one of the darkest periods post-Independence. "Nearly one lakh forced sterilisations took place, and citizens lived in fear. Many were forced to flee their homes and hide in sugarcane fields. It is vital that the youth understand this history to prevent its repetition," he said. Key officials present at the event included CM office in-charge Kailash Saini, Kurukshetra deputy commissioner Neha Singh, superintendent of police Nitish Aggarwal, various local sarpanches, and community leaders. MSID:: 122073231 413 |
Time of India
14-06-2025
- Sport
- Time of India
Sam Burns sizzles with 65, takes surprise US Open lead
Sam Burns matched the third-lowest round ever recorded at Oakmont in US Open history, carding a five-under-par 65 to take a one-shot lead after Friday's second round. The 28-year-old American delivered a near-flawless performance, tallying six birdies and just one bogey to move to three-under 137 through 36 holes on the notoriously challenging course, as several top contenders faltered. The only two US Open rounds at Oakmont better than 22nd-ranked Burns's 65 are Johnny Miller's iconic final-round 63 to win in 1973 and Loren Roberts's 64 in the third round of the 1994 edition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Record di vendite in Italia per il bracciale anti-zanzare! Liberati dalle zanzare e dormi tranquillo ZSONIC Acquista ora Undo "It felt like I played really well. Today was really nice," Burns said. "There's obviously a lot of golf left on a very tough course." — usopengolf (@usopengolf) Live Events Overnight leader JJ Spaun slipped with bogeys on three of his final four holes, finishing with a two-over 72 to drop to second place at two-under 138. Norway's Viktor Hovland climbed into third with a solid 68, sitting at one-under 139 — making the trio of Burns, Spaun, and Hovland the only players under par after 36 holes. — usopengolf (@usopengolf) "I was definitely anxious to get back out here and see how the game would pan out, and it ended up being a pretty good day," Spaun said. "It was more of a true US Open round, a lot of back and forth, a lot of grinding, bogeys. It was still an overall good day. I'm still right there." Defending champion Bryson DeChambeau won't be around, carding a disastrous 77 to finish at 150 and miss the cut — becoming the first reigning US Open winner to miss the weekend since Gary Woodland in 2020. World number two Rory McIlroy narrowly made the cut after a shaky start that included double bogeys at the first and third holes. He recovered late, sinking a clutch five-foot birdie putt at the 18th to post a 72 and finish at six-over 146 — just enough to stay inside the top 60 and ties for the weekend. Also heading home early was six-time US Open runner-up Phil Mickelson , whose quest to complete the career Grand Slam ended with a missed cut. World number one Scottie Scheffler and Spain's Jon Rahm sit seven shots back at four-over 144. Scheffler endured a rollercoaster 71, mixing five bogeys with four birdies.
