“Every president has had this problem”: Trump gets cornered over foreign money in his crypto business

President Trump Holds Rally In Dubuque, Iowa Two Days Before Midterms - Source: Getty
President Donald Trump defends his business interests - Source: Getty

In an interview with CBS's 60 Minutes, President Donald Trump faced some fiery questions about the Republicans' defeat in the midterm elections, his immigration policies, his administration, and concerns over foreign investors in his family's cryptocurrency business, World Liberty Financial. The host questioned Trump on whether he could divest from his family's cryptocurrency company that is partially owned by individuals linked to the UAE government.

The host pointed out that foreign investors might be buying political influence by investing in such a business. Trump defended his business interests, saying that every President faces this problem. Trump claimed every President has people who work for them, and people often think the President is biased towards them. He added:

"Every President has had this problem. This is true for every President. Going back to George Washington."

Here's more about it.


Trump defends his business interests amid questions over Middle East investments in his family-owned crypto company

In an interview with CBS's 60 Minutes, Trump faced fiery questions about his investment in his son's cryptocurrency company. The host asked the President why he did not choose to divest from his son's company, which is allegedly partially owned by individuals linked to the UAE government. The host added that it is one of the pivotal reasons why the President is accused of corruption. The host questioned President Trump about whether such foreign investments come with a hidden political influence agenda.

According to Crypto. news, Trump stated that he has no involvement in the cryptocurrency company's operations. He added that he cannot stop his sons from managing the company while he is in office. The report stated that the company is facing over a $500 million investment linked to a UAE national security advisor, Sheikh Tahnoon bin Zayed Al Nahyan, raising questions about a conflict of interest. According to Crypto. news, Democrats have reportedly planned to investigate Trump's family dealings, including foreign crypto investments and regulatory compliance.

Trump defended his business interests, saying that every President faces this problem. He claimed that every President has people who work for them, and people often accuse the President of being biased. Trump acknowledged that in some cases it is true. Trump added that this is true for every President going back to George Washington. When the host asked if no other President was involved in a cryptocurrency company, Trump shut him down, saying,

"But they own something whatever crypto was at that time. Before that, there was oil. Every President has had this problem."

Trump claimed that every President has trusted aides, some of whom stay connected. However, he claimed that those who leave, 'they go crazy'.

In the interview, Trump also added that he has had the best two years in the history of the presidency. When asked whether he would be impeached again, he said:

"I can't imagine it."

When Trump was asked whether he would be involved in the 2028 Presidential election, he responded, saying:

"I may or may not get involved."

Also Read: Trump says immigration crackdown both 'helped and hurt' him after Republicans' midterm defeat

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Edited by Archi Biswas