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Trump’s $100 Million Crypto Investor Aqua 1 Foundation Remains a Mystery

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A previously little-known entity called Aqua 1 Foundation made headlines in late June by purchasing $100 million worth of crypto tokens from President Donald Trump’s World Liberty Financial platform, becoming the largest publicly disclosed investor in the venture. Despite the size of the investment, very little is known about Aqua 1’s origins, funding sources, or its named founding partner, Dave Lee.

Reuters’ investigation found no clear information about Aqua 1’s backers or how to contact Lee directly. The company provided only a brief, unsigned statement refusing to disclose further details, stating it is “backed by a group of long-term, mission-aligned partners” and led by Lee and a global team with expertise in web3 and digital asset infrastructure.

The purchase significantly benefits the Trump family, who reportedly receive about 75% of proceeds from World Liberty tokens, meaning Aqua 1’s investment injected tens of millions of dollars into their personal wealth. Since its launch last fall, the Trump family has earned an estimated $500 million from the platform.

White House Deputy Press Secretary Anna Kelly stated that Trump has taken steps to avoid conflicts of interest, emphasizing that his assets are held in a trust managed by his children, and highlighted the president’s push to position America as a global crypto leader.

Most buyers of the World Liberty tokens remain anonymous, but some are known, such as Chinese investor Justin Sun, who previously bought $75 million worth, and Dubai-based DWF Labs, which invested $25 million. Representatives for DWF Labs said they have no connection to Aqua 1 or Lee.

Aqua 1 announced its investment alongside plans to launch a new fund aimed at advancing the Middle East’s digital economy transformation, set to be listed in the Abu Dhabi Global Market (ADGM) financial center. However, ADGM confirmed that Aqua 1 is not registered, licensed, or affiliated with it.

Questions about Aqua 1’s legitimacy and transparency come amid growing scrutiny of Trump’s crypto ventures by U.S. political rivals and ethics experts, concerned about potential conflicts of interest as his administration influences crypto regulation. Critics argue the opacity of investors like Aqua 1 fuels suspicion about foreign influence on the White House.

Aqua 1 describes itself as a “Web3-native fund based in UAE with a global outlook,” but Reuters found no evidence of its registration with UAE’s main financial regulators, including Abu Dhabi Global Market, Dubai International Finance Centre, or the Securities and Commodities Authority. Its website was created only in May 2025, lacks detailed leadership or financial information, and its registrants remain anonymous.

Dave Lee, the supposed founding partner, has a minimal public presence. His social media profile contains sparse posts, with a manga-style avatar and mentions locations including São Paulo, New York, Hong Kong, and Abu Dhabi. The crypto wallet linked to Aqua 1 shows limited transaction history, mainly transfers to World Liberty, and an estimated $100 million in assets under management, suggesting World Liberty may be its sole major investment.

This mystery surrounding Aqua 1 adds to concerns about transparency and potential foreign influence in President Trump’s crypto-related businesses, raising calls for greater public disclosure on the origins of the large sums flowing into the World Liberty project.

Nvidia CEO Jensen Huang to Meet Former President Trump Ahead of China Visit

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Nvidia CEO Jensen Huang is scheduled to meet former U.S. President Donald Trump at the White House on Thursday, a day before Huang’s planned trip to China, according to a source familiar with the matter. The meeting takes place as Nvidia’s market valuation recently surpassed $4 trillion for the first time, underscoring the company’s position as one of Wall Street’s most valuable stocks.

Specific details about the agenda of the discussions have not been disclosed. Bloomberg was the first to report the meeting, while neither Nvidia nor the White House immediately responded to Reuters’ requests for comment.

Huang has previously criticized the export restrictions imposed by the Trump administration in April, which halted Nvidia’s ability to sell its H20 AI chip to China—a product Huang described as a “springboard to global success.” These U.S. export curbs resulted in a $2.5 billion loss in sales for Nvidia in the first quarter, with the company forecasting an $8 billion revenue impact in the second quarter.

Due to these stringent trade restrictions, Huang announced in June that Nvidia would exclude China from its revenue and profit projections going forward.

TikTok Developing New U.S. App Version Ahead of Expected Sale, Report Says

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TikTok is reportedly building a new version of its app for U.S. users in anticipation of a planned sale to a group of investors, according to a report by The Information on Sunday citing unnamed sources.

Summary:

  • New U.S. App Launch:
    TikTok aims to launch the new app on U.S. app stores by September 5. Users will eventually need to download this new version to continue accessing the service, although the current app is expected to function until March next year. This timeline may be subject to change.

  • Background on Sale:
    The move comes amid U.S. President Donald Trump’s announcement last Friday that talks with China regarding a possible TikTok deal would begin early this week. Trump stated the U.S. “pretty much” has a deal in place for the sale of TikTok’s U.S. operations.

  • Deadline Extension:
    Trump had extended ByteDance’s deadline to divest TikTok’s U.S. assets to September 17. Earlier efforts to spin off TikTok’s U.S. operations into a U.S.-based company majority-owned by American investors stalled after China expressed disapproval, partly due to escalating U.S. tariffs on Chinese goods.

  • Approval Needed:
    Trump acknowledged that any deal would likely require approval from China. TikTok and ByteDance have not commented on the report, and Reuters could not independently verify the information.