According to The New York Times, three former White House ethics advisors who served in the Clinton, George W. Bush, and Obama administrations – including Norman Eisen, Virginia Canter, and Richard W. Painter – have strongly criticized US President Donald Trump for actions allegedly blatantly violating regulations prohibiting gifts from foreign governments.
These legal experts stated:
"As lawyers who have been responsible for enforcing the ban on receiving gifts from foreign governments at the White House for many years, we believe that Donald Trump is openly and seriously violating these regulations. Not only is there a clear desire to receive a private jet worth around $400 million from Qatar, but his cryptocurrency-related activities are even more concerning – or worse."
One specific concern is that the Qatari Royal Family might gift Trump a luxurious Boeing 747-8 aircraft – an action viewed as a significant gift from a foreign government. Additionally, another issue being questioned is the compensation Trump might receive through cryptocurrency transactions, especially during his current visit to the Middle East.
According to the report, an investment fund backed by the Abu Dhabi government (UAE) is using approximately $2 billion in USD1 stablecoin issued by the cryptocurrency company World Liberty Financial – largely owned by Trump's family – to conduct business transactions. Donald Trump is currently listed as the "primary cryptocurrency supporter" in this company.
The USD1 stablecoin is pegged to the US dollar, and if its value and trading volume increase, the Trump family could potentially earn substantial profits from this activity. Experts warn that this business model – along with Trump's other cryptocurrency investments, such as the Trump Meme Coin – creates almost unlimited conditions for foreign governments to indirectly transfer money to Trump.
They emphasize that any government, simply by injecting money into World Liberty Financial – as the UAE investment fund has done – could be seen as an illegal "gift" under the emoluments clause (a provision preventing federal officials from receiving money or gifts from foreign governments). This is strictly prohibited in the US Constitution to prevent external influence and interference with high-ranking leaders.
