First Draft: Meet the Gulf ‘Spy Sheikh’ Backing Trump’s Insanely Corrupt Crypto Bank

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Cite

Perez, A. (2026, September 3). First Draft: Meet the Gulf ‘Spy Sheikh’ Backing Trump’s Insanely Corrupt Crypto Bank. Zeteo. https://zeteo.com/p/meet-the-gulf-spy-sheikh-backing

Dated when The Aporia collected the article, usually within hours of publication. Check the original for its exact date and byline.

Zeteo · collected 2026-09-03 · by Andrew Perez commentary

Quick Summary

The article reports on alleged corruption involving US President Donald Trump's cryptocurrency ventures, specifically his family's crypto exchange World Liberty Financial. Sheikh Tahnoon bin Zayed Al Nahyan, a UAE national security adviser and "spy sheikh", has a 49% stake in the company through an investment firm he backs, worth $500 million. The deal was made days before Trump's second inauguration, and the US government later agreed to provide advanced AI chips to the UAE, including one of Tahnoon's companies. The article highlights that Trump made at least $1.4 billion from his cryptocurrency ventures last year.
Written locally by qwen2.5:14b on 2026-09-03, using this article's own text rather than the other coverage of the same event (that is the story summary below).

AI analysis runs on qwen2.5:14b, locally

Story summary

The Trump administration has launched a year-long campaign of drone strikes against boats in the Caribbean Sea, killing at least 227 people, including civilians who were not involved in any illicit activities. The first strike occurred on September 2, 2025, when a US military plane killed 11 men on a small boat in the Caribbean. The administration has claimed that these strikes are aimed at targeting "drug runners," but it has provided no evidence to support this claim. In fact, the UN Human Rights Office has condemned the strikes, stating that even if the boats were carrying drugs, such extrajudicial killings would be unacceptable. Since the first strike, there have been 68 boat strikes, with some of them targeting survivors who had already been injured in earlier attacks. The US military has offered no evidence to justify these strikes, and the civilian death toll continues to rise. Locals in Trinidad and Tobago are living in fear, as they are also targeted by the US military for being part of "designated terrorist organizations," even if they are just fishermen trying to make a living.

Written for “US Airstrike Casualties in Yemen” on 2026-10-20, grounded in this article and the 3 other(s) covering the same event.

Story

📰 US Airstrike Casualties in Yemen
World · 4 article(s) covering the same event. Compare every outlet's account →

Compared with similar articles

This article reads leans left and hedges 4% of its claims. Each row says how that neighbour differs.
Mother Jones
⚖️ Leans strongly left further left than this 🔴 8% hedged 2 of 24 📰 publisher trust 95
“Both articles report on a single incident: the drone strike by the Trump administration on September 2, 2025, in the Caribbean Sea that killed 11 people.”
Toronto Star
⚖️ leaning not scored 🔴 2% hedged 3 of 124 📰 publisher trust 63
“Both articles describe the same airstrikes by the Trump administration in the Caribbean, including the number of people killed and the strikes carried out”
The Intercept
⚖️ Leans strongly left further left than this 🔴 9% hedged 10 of 113 📰 publisher trust 97
“Article A describes a specific operation where Adm. Bradley ordered SEAL Team 6 to attack a boat, while Article B mentions a broader context of extra-legal actions by the Trump administration in 2025, but does not specifically describe the same event”
How this article was measured signals, leaning charts, publisher record, byline, topics and claims

Signals How these are calculated →

Claims extracted
121
sentences that state something as happening or true
Uncertain
4%
5 of 121 hedged ("reportedly", "may", "according to")
Leaning
Leans left
expected in commentary, which argues a position · beta estimate
Publisher signals
not measured
these signals count newsroom corrections; Commentary has none to count
Outlets on this story
4
World
Same framing elsewhere
1
articles that frame the event the way this one does
Analyzed 2026-09-03 · how these are computed

How this is being covered How these are calculated →

Article leaning vs. publisher reliability
Source leaning vs. consistency

Publisher

Zeteo · 180 article(s) · 0 correction(s) detected
No corrections detected for this publisher. That may mean careful reporting, or simply that nothing has been checked.

Who wrote this

Andrew Perez
10 article(s) here · 1 carrying a prediction
🔮 On this day in 1973, President Richard Nixon oversaw the “Saturday Night Massacre,” in which Attorney General Elliot Richardson and Deputy AG William Ruckelshaus resigned rather than fire Watergate Special Prosecutor Archibald Cox.
🔮 In today’s ‘First Draft,’ the president once again demonstrates he is America’s most out-of-touch billionaire, while also clarifying his willingness to discard law and convention to go after enemies and targets for his hate, in the continued hounding of Ilhan Omar.
🔮 (Several Trump advisers concede to Zeteo that it verges on self-satire that this president would run against warmongering at this point.)
🔮 In today’s ‘First Draft,’ Democrats and Republicans agree the U.S. should investigate the killing of nine Americans in the occupied West Bank; Donald Trump and his administration revealed the exact level of bullshit they will put in a court filing before a federal judge; and Trump’s Iran war drags on and on.
🔮 Later today, they’ll decide whether to advance a bill that would give the crypto industry the exact type of favorable, light-touch regulatory environment its executives paid for by spending $245 million on the 2024 elections, and another $206 million (so far) this cycle.
🔮 In today’s ‘First Draft,’ we recap Donald Trump’s latest unhinged weekend posting spree, and we take a look at Rudy Giuliani’s disgraceful, Islamophobic attack on New York City Mayor Zohran Mamdani ahead of this week’s 9/11 anniversary.
🔮 But roughly half of the bank will, naturally, belong to the Emiratis.
🔮 You’re running around basically tying your entire identity to a country that inevitably will be seen as Jewish ISIS, and you’re saying, ‘As Jews, this is all we care about.’
Also by Andrew Perez
Nothing else under this byline is closely related to this article, so these are simply their most recent.
All 10 articles by Andrew Perez →

Topics

ICE U.S. UAE World Liberty Financial the Trump administration

Subjects

Trump PERSON · 9× World Liberty Financial ORG · 6× Tahnoon PERSON · 4× UAE GPE · 4× Americans NORP · 2× Tahnoon bin Zayed Al Nahyan PERSON · 2× Andrew PERSON · 1× Milo Yiannopoulos PERSON · 1× U.S. GPE · 1× the Trump administration ORG · 1×

Narrative

although in the case of far-right Brit Milo Yiannopoulos and his comments about his removal from U.S. soil, it’s more a case of “I never thought leopards would eat MY face,’ sobs man who voted for Leopards Eating People’s Faces Party, adding: ‘But I still think leopards should eat those brown people’s faces instead.
framing: assertive · carried by 1 article(s) · first seen 2026-09-03
🔮 But roughly half of the bank will, naturally, belong to the Emiratis.

Claims (121 extracted, 5 hedged)

On this day in 2025, the Trump administration carried out its first known strike on a boat in the Caribbean, claiming to be target drug runners. asserted
administration → carry → Caribbean
Eleven people were killed. asserted
people → kill → ?
A year on, the death toll from such extra-legal actions stands at 223 from 67 strikes. asserted
toll → stand → strikes
Andrew here as we recap another hellishly busy and mostly hard-to-love news day. asserted
we → recap → day
In today’s ‘First Draft,’ the UAE’s “spy sheikh” and his pals own half of the Trump family’s bank, far-right influencer Milo Yiannopoulos thinks ICE should stick to brutalizing other people, and progressive Senator Ed Markey trounces Rep. Seth Moulton in Massachusetts asserted
Markey → own → Massachusetts
Today is also another day on which ‘First Draft’ is published without a paywall, so new readers can see what Zeteo brings to the table: all the reporting and opinion you need, on the political subjects that matter. asserted
that → publish → subjects
Let’s get to it. asserted
’s → let → it
The ‘Spy’ Who Funded Me asserted
Who → fund → Me
With the daily onrush of news about Donald Trump’s titanic corruption, fascism, petty grievances, and embarrassing misuse of taxpayer dollars, it can be easy to lose sight of his individual acts of graft – even when they are world-historic. asserted
they → lose → graft
Last year, the president made at least $1.4 billion off his cryptocurrency ventures. asserted
president → make → ventures
Much of that haul came from sales of his near-worthless memecoin, $TRUMP, which the president launched days before his second inauguration. asserted
president → come → inauguration
Even more came from his family’s crypto exchange, World Liberty Financial. asserted
more → come → exchange
As president, Trump has actively sought to boost the crypto industry, while signing legislation to legalize and promote the sale of crypto “stablecoins,” like those marketed by World Liberty Financial. asserted
Trump → seek → Financial
As bad as that all sounds, it’s only gotten worse as reporters have uncovered more details about the president’s business dealings with foreign leaders – and as the corruption has grown more staggering. asserted
corruption → sound → leaders
Days before Trump’s inauguration, his family inked a $500 million deal with an investment firm backed by Sheikh Tahnoon bin Zayed Al Nahyan, brother to the United Arab Emirates’s president. asserted
family → ink → president
He’s the UAE’s national security adviser, often called the “spy sheikh.” asserted
He → ’ → ?
Per Bloomberg, Tahnoon is also known as “the de facto business chief of Abu Dhabi’s wealthy ruling family and the man at the helm of a $1.5 trillion empire.” asserted
Tahnoon → know → empire
The deal with World Liberty Financial gave Tahnoon and co. a 49% stake in the Trump family’s crypto bonanza. asserted
deal → give → bonanza
The public only learned many of these details in January, thanks to a Wall Street Journal report. asserted
public → learn → report
Of course, that was well after Trump’s second administration agreed to provide 500,000 advanced AI chips per year to the UAE, with a fifth slated to go to one of Tahnoon’s companies. asserted
fifth → agree → companies
The UAE had sought such AI chips before, but was rebuffed by the Biden administration. asserted
UAE → seek → administration
Things apparently changed after several meetings with Trump and his Middle East envoy Steve Witkoff (whose son is World Liberty Financial’s CEO), a visit to the White House last March, and – of course – the investment in World Liberty Financial. asserted
son → change → Financial
Somehow, the story keeps getting worse. asserted
story → get → ?
As part of the Trump administration’s unparalleled corruption, the president’s appointees recently gave World Liberty Financial “preliminary conditional approval” to launch a bank. asserted
appointees → give → bank
But roughly half of the bank will, naturally, belong to the Emiratis. asserted
half → belong → Emiratis
According to a recent Journal report, “Sheikh Tahnoon bin Zayed al Nahyan and co-investors are behind an entity that owns the largest stake – 49% – in the holding company that World Liberty Financial created to house its banking venture, according to people familiar with the matter.” If it feels like more Americans should be mad about all of this, thankfully, it appears they are. uncertain
they → accord → this
A new poll from UMass Amherst finds that Americans oppose Trump’s crypto grifting. asserted
Americans → find → grifting
Respondents were told that Trump and his family earned $1.4 billion last year from their crypto ventures, and asked if a sitting president should be allowed to profit from business ventures that could be affected by the policies and decisions of his administration. uncertain
that → tell → administration
The response was overwhelming: 77% of Americans said the president should not be allowed to profit this way, while only 23% said it should be allowed. asserted
it → say → Americans
UMass additionally asked respondents whether they trust Trump to avoid using his position as president to benefit his family’s business interests. asserted
they → ask → interests
Roughly two-thirds of Americans said they do not. asserted
they → say → Americans
The only question, of course, is why there are any Americans who are OK with Trump’s crypto corruption, or who trust him to avoid using the presidency to boost his family’s business interests. asserted
who → be → interests
He is doing that, and then some. asserted
He → do → that
We’ll surely learn more soon. asserted
We → learn → more
Iranian officials said a U.S. airstrike hit a wedding, killing five, including a 4-year-old child, and wounding 68. asserted
airstrike → say → 68
The U.S. said it did not target civilians. asserted
it → say → civilians
Iran vowed revenge, and fired missiles and drones at U.S. sites in Jordan and other countries. asserted
Iran → vow → Jordan
The U.S. military also said it struck Iranian air defense, radar, and maritime assets, with Axios reporting tankers hit under a “tanker for tanker” policy. asserted
tankers → say → policy
Hailing what he called a “very justified attack,” Donald Trump reached for the sort of threat he has made repeatedly before backing off, saying Iran should not fight back or it would be “hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings.” asserted
that → hail → wings
Asked about the chances of another ceasefire, Trump told Fox: “I think an agreement with them isn’t worth the paper it’s written on. asserted
it → ask → paper
…and 81 more, not listed.
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