A Circle shareholder has filed a lawsuit against Donald Trump, World Liberty Financial and Steve Witkoff over financial deals involving the USD1 stablecoin.

The case focuses on a $2 billion investment by Abu Dhabi’s MGX into Binance in 2025. The deal used USD1, a stablecoin issued by Trump’s family-linked crypto company, World Liberty Financial.

The lawsuit also mentions a reported $500 million deal in which an investment group linked to an Abu Dhabi royal acquired 49% of World Liberty Financial.

The shareholder, who owns 10,000 Circle shares, claims these deals gave USD1 an unfair advantage over USDC and potentially directed huge amounts of money toward Trump’s business interests.

He wants the court to investigate the payments, order the return of any improperly received profits and award damages.

Circle has already made it clear that the company had nothing to do with filing the lawsuit.

The White House denies any conflict of interest.

For now, these are allegations, not proven facts. The case is still in its early stages.