According to Bloomberg, Circle shareholder Benjamin Greenberg has sued U.S. President Donald Trump and World Liberty Financial, a crypto venture co-founded by Trump and his family, in federal court in Washington, accusing Trump of illegally profiting from two deals involving the UAE, violating the U.S. Constitution’s Foreign Emoluments Clause, and harming Circle shareholders through unfair competition. The deals in question include an investment entity backed by members of the UAE royal family acquiring a 49% stake in World Liberty for $500 million, and Abu Dhabi’s MGX fund using its stablecoin USD1 to complete a $2 billion investment in Binance. The plaintiff is asking the court to prohibit the allegedly unconstitutional conduct, recover the illegal gains, and award damages. Circle stressed that the lawsuit was filed by an individual shareholder and that the company was not involved; World Liberty denied the allegations, saying its business complies with U.S. laws and regulations.