Former Circle Employee Sues Donald Trump

A former employee of Circle, the issuer of the USDC stablecoin, has filed a lawsuit against former U.S. President Donald Trump. The document has been submitted to the court, and its text is available via an official link.

The plaintiff challenges two key financial transactions related to the World Liberty Financial (WLFI) project.

The first transaction took place a few days before Trump's inauguration in January 2025. A structure linked to Sheikh Tahnoon bin Zayed Al Nahyan, advisor to the UAE National Security Council, acquired a 49% stake in WLFI for $500 million. The plaintiff claims that part of the funds flowed to Trump family structures after he took office.

The second transaction was carried out in 2025 by Abu Dhabi-based fund MGX, also linked to the same sheikh. The fund purchased $2 billion worth of World Liberty USD1 stablecoin and directed these funds for investment into Binance exchange. According to the plaintiff, this increased the turnover of the USD1 token and generated income for Trump through stablecoin reserves.

The lawsuit contains several specific demands against the defendant.

• declare receipt of money as a violation of the U.S. Constitution
• prohibit such actions without Congressional consent
• seize illegally obtained profits
• require disclosure of other foreign crypto income
• compensate for damages, as the transactions harmed Circle as a competitor in the stablecoin sector

Representatives of Circle stated they have no involvement in the lawsuit and did not participate in filing it.

Meanwhile, Senator Richard Blumental has officially launched an investigation into the matter. He sent letters to Tether and Nxum demanding documents by November 6, 2026.