US President Donald Trump is again facing the threat of impeachment. He has aroused discontent among his opponents for various reasons. This time, the scandal over cryptocurrency might blemish his political reputation.
In May of this year, one of the investment firms owned by Arab Sheikh Tahnoun bin Zayed Al Nahyan invested $2 billion in World Liberty Financial, a company founded by Trump’s sons, Eric and Donald, along with a relative of Zach Witkoff, the US Special Envoy to the Middle East. Two weeks later, the United Arab Emirates purchased valuable computer chips produced in the US. As a result, the country’s economy and the sheikh personally greatly profited, since many of the devices were transferred to his company, G42.
Against this backdrop, The New York Times conducted an investigation but found no direct link between the deals. However, reporters did uncover strong business ties between the Trump, Witkoff, and Sheikh Tahnoun families, which enriched them and raised concerns about the ethical conduct of Trump and those close to him.
Lawyers interviewed by The New York Times believe such operations violate the ethical norms traditionally upheld within the American political establishment. This has led to discussions of a possible impeachment of the US President. However, users of the cryptocurrency-based betting platform Polymarket are skeptical about Trump being removed from office, placing the probability of such an outcome at just 4%.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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