World Liberty Financial, which is linked to the family of U.S. President Donald Trump, received $100 M from Aqua 1 for WLFI tokens, according to The New York Times investigative reporter Russ Buettner, who specializes in Trump’s financial affairs. Aqua 1 is linked to businessman Guren “Bobby” Zhou.
Under the terms of the deal, up to $75 M of that amount went to a company controlled by Trump and his three sons. Relatives of Zach Witkoff, co-founder of World Liberty, also benefited financially. His father, Steve Witkoff, serves as a special envoy in the Trump administration.
The source of the funds used to purchase the tokens has not been publicly disclosed.
Investigation in the UK
Zhou previously ran a network of flooring companies in the UK that went bankrupt with around $5 M in debt owed to his father’s company. He later launched the crypto project Caduceus, whose token had nearly lost all of its value by 2024.
In 2021, British authorities arrested Zhou on suspicion of money laundering. A court document published in November 2025 linked him to an alleged scheme that had been operating since 2019, but he was not charged. In September 2025, two of his longtime associates were charged, and one of them pleaded guilty. The trial is scheduled for 2028, while the investigation into Zhou is ongoing.
According to court records and information from British authorities, details of the investigation into Zhou had emerged before the deal with WLF was completed.
Zhou’s Ties to World Liberty
In January 2025, shortly after Trump’s inauguration, Web3Port, a Web3 venture fund founded by Zhou after he moved to Abu Dhabi, announced a $10 M investment in World Liberty.
Later, an entity linked to the fund in the British Virgin Islands changed its name to Aqua 1 GP Limited. In June 2025, Aqua 1 announced that it had purchased $100 M worth of WLFI tokens. At the time, the deal was the largest known purchase of the project’s tokens.
In July 2026, Zhou was seated in the same box as Zach Witkoff during the FIFA World Cup final in New Jersey. Earlier, Zhou briefly spoke on an X audio session on behalf of Aqua 1, calling World Liberty “the Trump family’s crypto project.”
Representatives of World Liberty said that the company complies with all applicable laws and maintains a compliance program that meets or exceeds industry standards.
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