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Trump Downplays Concerns about WLFI Investment with Abu Dhabi-linked Entity 

By
Paul Ugbede Godwin
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0

President Donald Trump has publicly claimed he was unaware of a reported $500 million investment from an Abu Dhabi-linked entity into World Liberty Financial (WLFI), the cryptocurrency venture associated with his family.

The claim stems from recent reports, primarily a Wall Street Journal investigation, which revealed that an investment firm called Aryam Investment 1—backed by Sheikh Tahnoon bin Zayed Al Nahyan (a senior UAE royal, national security adviser, and brother of the UAE president)—acquired a 49% stake in WLFI for $500 million.

The deal was reportedly signed by Eric Trump just days before Trump’s January 2025 inauguration, with half the funds paid upfront. This made the Emirati-backed firm the largest shareholder, and it raised significant concerns about potential conflicts of interest, foreign influence on U.S. policy (including subsequent approvals for UAE access to advanced American AI chips), and emoluments clause issues.

In response, during a press conference or statements around early February 2026, Trump denied knowledge of the specifics: He reportedly said variations like: “I don’t know about it,” “My sons are handling that, I guess they get investments from people,” and “I don’t know exactly other than I’m a big crypto person.”

He emphasized his general support for cryptocurrency but distanced himself from the transaction details. The White House and WLFI spokespeople have echoed this, stating that Trump has no involvement in running the business which he turned over to his children upon taking office, and that neither he nor envoy Steve Witkoff (a co-founder emeritus) participated in the deal.

A WLFI spokesperson confirmed the investment existed but insisted it was unrelated to administration actions.This has sparked criticism from Democrats and ethics watchdogs, who describe it as “corruption, plain and simple” or a form of foreign influence via family business ties.

Some reports note the deal’s financial structure appeared unusually favorable to the Trump side like the family retained significant revenue shares despite reduced ownership, while questioning the Emiratis’ strategic return.

The controversy ties into broader debates about presidential family ventures in crypto during Trump’s second term, with WLFI being a DeFi platform promoted by Trump family members since its 2024 launch.

The Trump administration approved UAE access to advanced U.S. AI chips in 2025, reversing stricter restrictions from the Biden era amid national security concerns over potential diversion to China.

Shortly after Trump’s inauguration, the U.S. agreed to a path allowing the UAE to purchase hundreds of thousands of advanced Nvidia AI chips annually. This was described as up to 500,000 chips per year in some early reports, enabling massive data center builds equivalent to significant power demands, like multiple Hoover Dams.

A portion (e.g., 20%) was allocated to Sheikh Tahnoon bin Zayed Al Nahyan’s AI firm G42. This deal followed meetings involving Trump, Sheikh Tahnoon, and U.S. envoy Steve Witkoff. The U.S. Department of Commerce authorized exports of advanced semiconductors to UAE-based G42 and Saudi Arabia’s Humain.

This included the equivalent of up to 35,000 Nvidia Blackwell chips (GB300s) per company, valued at around $1 billion combined. Approvals required “rigorous security and reporting requirements” to mitigate risks. These built on earlier licenses and aligned with Trump’s July 2025 AI Action Plan to promote U.S. AI dominance globally.

The approvals supported UAE projects like the Stargate UAE AI campus (a 5-gigawatt hub involving Nvidia, Oracle, Cisco, SoftBank, and others) and positioned the UAE as a major AI player. This has sparked controversy due to timing with the reported $500 million investment by a Tahnoon-backed firm (Aryam Investment 1) into World Liberty Financial (WLFI), acquiring a 49% stake just before Trump’s January 2025 inauguration.

Critics like Sen. Elizabeth Warren, ethics groups call it a potential conflict of interest or “corruption,” suggesting the chip access may link to family business gains, though the White House, WLFI, and administration officials deny any connection, stating Trump had no involvement in the crypto deal and chip decisions were policy-driven.

The UAE welcomed the moves as strengthening U.S. partnership in AI, energy, and tech, with no evidence of improper quid pro quo in official statements.

Chinese Solar Stocks Soar on Musk Supplier Visit Rumors, Fueling Speculation of AI Energy Demand Boost

By
Samuel Nwite
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0

Shares of Chinese solar panel manufacturers surged sharply on Wednesday, after local media reported that a team linked to Elon Musk had recently visited several photovoltaic suppliers in China, igniting speculation that the Tesla and SpaceX chief could become a high-profile customer for advanced solar technologies.

The reports, which emerged amid Musk’s public emphasis on expanding U.S. solar cell production, triggered a wave of momentum trading and short-covering in a sector long battered by oversupply and margin compression. JinkoSolar, one of the world’s largest solar module producers, rocketed as much as 20% in early trade, hitting its daily limit according to LSEG data.

Jolywood Suzhou Sunwatt, a specialist in photovoltaic auxiliary materials, also climbed the 20% daily cap. Trina Solar and Shenzhen Topraysolar gained 8.9% and 10%, respectively, while the CSI All Share Solar Power Equipment Sub-Industry Index jumped 6.8%.

Local outlets Cailianshe and 21st Century Business Herald reported that Musk-affiliated visitors—allegedly from SpaceX and Tesla—had toured multiple Chinese photovoltaic companies, with particular interest in suppliers developing heterojunction (HJT) and perovskite technologies. These next-generation approaches promise higher cell efficiencies and potentially lower costs if manufacturing hurdles are overcome.

JinkoSolar reportedly confirmed a visit from a Musk-linked team but provided no details on potential business discussions. Other firms visited included GCL Group, TCL Zhonghuan, and Jingsheng Electromechanical, with briefings on granular silicon technology, perovskite operations in the U.S., equipment manufacturing, silicon wafers, and battery modules.

Neither SpaceX, Tesla, nor the visited companies immediately responded to requests for comment, and CNBC could not independently verify the reports. The rally was driven less by changes in fundamentals and more by narrative momentum, according to market participants. Ke Zong, a portfolio manager at a Shanghai-based quantitative fund, told Reuters the surge reflected perceptions that “energy remains the key bottleneck for AI, rather than any shift in the companies’ order books.”

Musk’s comments during Tesla’s latest earnings call last week—that he plans to build 100 gigawatts of solar cell capacity in the United States and that “the solar opportunity is underestimated”—amplified the narrative that tech giants are moving upstream into power generation to support data center expansion.

This speculation ties into exploding energy demands from AI infrastructure. Global data center electricity consumption is projected to double to around 945 terawatt-hours (TWh) by 2030, representing nearly 3% of worldwide usage, according to the International Energy Agency (IEA).

In the U.S., data centers could consume 325-580 TWh by 2028—6.7-12% of total electricity—up from 176 TWh (4.4%) in 2023. AI-specific demand is forecast to surge 31-fold to 14-18.7 gigawatts by 2028, up from 4.5 gigawatts in 2023, accounting for up to 20% of data center power.

This growth strains grids, with U.S. interconnection queues exceeding 1 terawatt (mostly renewables and storage), and average wait times for connections surpassing four years. Tech giants are turning to solar to meet these needs, with hyperscalers signing dozens of deals for over 100 megawatts each since early 2026.

Google, for instance, invested in a Texas solar facility and plans $16 billion in clean energy procurement through 2040. Amazon partnered with Entergy on a $10 billion Mississippi project, adding 650 MW of solar.

Co-located clean energy campuses, like those developed by Google with Intersect Power and TPG Rise Climate, aim to be operational by 2026-2027, reducing power costs by up to 40% via private wires.

Musk’s interest in Chinese solar tech—particularly HJT and perovskites—aligns with these trends. Perovskites could lower costs if scaled, while HJT offers superior efficiency. His January 2026 visit to Taiwanese suppliers and warnings of “massive” memory needs highlight energy as AI’s key constraint.

On X, Musk has praised China’s solar prowess, stating in a January 7 post: “It seems like China listens to everything I say… they’re making vast amounts of solar.”

China dominates global solar manufacturing with over 80% capacity, but oversupply has depressed prices, prompting overseas expansion amid tariffs. JinkoSolar targets 12 GW in Southeast Asia by 2030 and operates a 1.2 million-panel Florida factory.

Despite the enthusiasm, analysts like Morningstar’s Cheng Wang warn stocks are now “fully valued or overvalued,” with space-based solar remaining economically marginal. The rally’s sustainability is believed to hinge on whether Musk-related deals materialize, potentially easing oversupply but likely marginal relative to sector scale.

Tom Lee’s BitMine Extends Losses to $7B Amid Arbitrum DAO’s X Account Compromise

By
Paul Ugbede Godwin
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0

BitMine Immersion Technologies (BMNR), chaired by Fundstrat’s Tom Lee, is facing massive unrealized (paper) losses on its Ethereum treasury holdings amid the ongoing crypto market downturn.

The company holds around 4.24–4.285 million ETH roughly 3.5% of circulating supply, with an average acquisition cost of about $3,825–$3,883 per ETH. At current ETH prices around $2,200–$2,350 recently, these holdings are valued at approximately $9.6–$9.9 billion, resulting in unrealized losses reported between $6 billion and approaching or exceeding $7 billion in some estimates—making it one of the largest such paper losses in trading history for a public entity.

BitMine has continued aggressively buying the dip adding 41,000–41,788 ETH in the past week and stakes a large portion (2.9 million ETH, generating $164 million in annual staking yield or ~$1 million daily cash flow). The firm remains debt-free, with significant cash reserves ($586 million) and other assets.

Tom Lee has defended the strategy, calling the losses “a feature, not a bug” of its Ethereum treasury approach—designed to track and outperform ETH over full market cycles, similar to an index ETF enduring drawdowns. He views short-term declines as expected, not a flaw, and maintains strong long-term conviction in ETH as “the future of finance.”

Critics have raised concerns about potential future selling pressure, but Lee argues this misunderstands the low-leverage, high-staking, spot-holding model. The news has contributed to pressure on BMNR stock down significantly in recent sessions and broader ETH sentiment, though the company keeps accumulating.

Arbitrum DAO’s X Account Gets Compromised

The official governance X account for Arbitrum DAO was compromised. Hackers used it to post unauthorized content, including promotions for a fake airdrop, “snapshot confirmation” claims, and phishing links to third-party sites—pinned and reshared for visibility to trick users.

Arbitrum’s main account (@arbitrum) quickly issued a security alert: SECURITY ALERT The @arbitrumdao_gov account has been compromised. Do not click any links or interact with posts from that account until further notice. We are working to recover access. Updates to follow.

The team emphasized that the breach was limited to the social media account—no impact on the Arbitrum protocol, governance systems, or user funds occurred. Control was regained shortly after (by February 4), with promises to review and strengthen security protocols for communication channels.

This caused a brief dip in the $ARB token price due to the scare, but it stabilized quickly. The incident highlights ongoing risks with social media accounts in crypto often targeted via phishing, but the core Layer-2 network remains secure. Users were urged to verify info through official channels and avoid suspicious links.

These events reflect broader market volatility (ETH/BTC drawdowns) and persistent security challenges in the space. ETH has faced significant pressure in the ongoing crypto downturn, trading in the $2,200–$2,400 range recently down sharply from peaks above $3,000–$5,000 in prior periods.

This has led to massive unrealized (paper) losses on BitMine’s holdings: Average acquisition cost: Roughly $3,800–$4,000 per ETH from aggressive buys in higher-price environments. Around $9.6–$9.9 billion, resulting in unrealized losses estimated at $6–$6.9 billion some reports approached or exceeded $7 billion depending on exact timing and price.

Tom Lee has directly addressed criticism (e.g., claims of being “exit liquidity” for early ETH holders or that future sales could cap ETH prices): He calls the drawdowns “a feature, not a bug” — just like index ETFs or trackers experience losses in bear markets without it being a flaw.

The strategy is built for full cycles: Accumulate through downturns, earn staking yield, and benefit from eventual recoveries. Lee maintains strong conviction: Ethereum is “the future of finance”, with strengthening fundamentals not matching the price weakness, which he attributes more to non-fundamental factors like broader deleveraging or gold/silver rallies pulling risk appetite.

Spanish Red Cross Launches RedChain, A Privacy Blockchain Platform

By
Paul Ugbede Godwin
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0

The Spanish Red Cross known as Cruz Roja Española or Creu Roja in Catalonia has recently launched a privacy-focused blockchain-based platform called RedChain.

Announced and rolled out around early February 2026, RedChain is designed to improve transparency in humanitarian aid distribution while strongly protecting the privacy of aid recipients. RedChain provides donors with real-time traceability and verifiable proof that their contributions reach intended purposes and have real impact.

Beneficiary identities, personal data, names, contact info, and case records stay completely off-chain (stored securely in the Red Cross’s own systems) — nothing personally identifiable touches the public blockchain. The blockchain (built on Ethereum) serves only as a verification layer: it anchors cryptographic proofs, hashes, timestamps, and integrity checks of transactions using zero-knowledge (ZK) proofs.

This allows auditing of fund flows and outcomes without exposing individuals, ensuring donors and regulators can verify accountability while preserving beneficiaries’ privacy, dignity, and safety. It replaces traditional paper vouchers or prepaid cards with ERC-20 token-based aid credits on Ethereum.

Recipients get these via a mobile wallet and spend them at partner merchants using QR codes. The project was developed in collaboration with: BLOOCK (Barcelona-based blockchain infrastructure provider) — handles anchoring proofs on Ethereum smart contracts without on-chain personal data.

Billions Network from Privado ID — provides privacy-focused, decentralized proof-of-personhood and zero-knowledge verification tech. This approach addresses a common challenge in aid organizations: balancing donor trust/transparency with protecting vulnerable people from data exposure, profiling, or stigma.

As Francisco López Romero, CTO at Creu Roja Catalunya, noted: people seeking help shouldn’t have to choose between aid and privacy. The launch has been covered widely in crypto, blockchain, and humanitarian tech news. It represents an innovative use of blockchain in the humanitarian sector, emphasizing ethical tech that prioritizes human dignity.

The United Nations and its agencies have been actively exploring and implementing blockchain in humanitarian aid and development for several years, focusing on improving efficiency, transparency, reducing costs, and protecting beneficiary privacy in cash transfers, identity management, and supply chain coordination.

These initiatives address challenges like slow traditional banking systems handling ~$38 billion in annual humanitarian funds, high fees, fraud risks, and data vulnerabilities in crisis zones.

Key UN Blockchain Aid Initiatives

World Food Programme (WFP) – Building Blocks: This is the world’s largest blockchain-based humanitarian platform, launched as a pilot in 2017 and scaled significantly since. It uses a private, permissioned blockchain network where participating organizations including other UN agencies operate nodes to coordinate aid without a central authority.

Enables secure cash/voucher transfers to refugees and vulnerable populations in Jordan, Pakistan, often via biometric-linked digital wallets like iris scans for food purchases. Reduces transaction costs by up to 98% saving millions, e.g., ~$2.4 million reported early on, prevents aid overlap/duplication, protects personal data, and speeds up emergency responses.

Has assisted over 1 million people and transferred hundreds of millions in value; it’s open for collaboration with other humanitarian actors to build a neutral network. WFP also accepts crypto donations and explores Web3 tracking for donor transparency.

UNHCR has pioneered direct blockchain payments to displaced people, emphasizing speed and traceability. In 2022–2023, piloted USDC stablecoin transfers via Stellar network and partners like UNICC and Circle to war-displaced in Ukraine—funds go straight to mobile wallets for quick access.

Expanded to countries like Argentina and Afghanistan; supported over 238,000 people with blockchain aid by 2025. Won awards in 2023 Paris Blockchain Week “Best Impact Project” for social impact.

In 2026, Circle Foundation granted support to UNHCR-led Digital Hub of Treasury Solutions (DHoTS)—a joint UN platform (launched 2021) expanding blockchain/stablecoin infrastructure to 15+ UN agencies for faster, cheaper, traceable transfers across the system, potentially cutting costs by up to 20%. Other efforts include “Impact Staking” on Cardano for ongoing refugee funding via staking rewards.

UNICEF – Blockchain Investments and Cash Disbursement Exploration

Focuses on open-source blockchain for children/youth via its Venture Fund (investing since 2016, including crypto). Funds startups building tools for financial inclusion, digital identity, and efficient cash transfers. Explores blockchain to enhance cash assistance efficiency, inclusion, and transparency.

Accepts/uses crypto (Bitcoin/Ether) via its Cryptocurrency Fund to support open-source tech benefiting kids. Broader UN Coordination UN Innovation Network Blockchain Group and UN Blockchain Core Group facilitate knowledge-sharing across entities.

Joint efforts like UNDP, WFP, UNHCR panels explore blockchain for SDGs, including aid delivery, remittances, and climate finance. UNDP’s Government Blockchain Academy (launching programs in 2026) to train public sectors; high-level dialogues on ethical blockchain for development.

These projects prioritize privacy such as minimal on-chain data, zero-knowledge elements in some cases and human-centered design, avoiding full public exposure of beneficiary info—similar to privacy-focused approaches like Spain’s Red Cross RedChain.

Blockchain in UN aid is still evolving from pilots to scaled systems, driven by partnerships and real-world results in crises like Ukraine and refugee camps. It complements—not replaces—traditional methods, aiming for faster, more accountable aid amid shrinking budgets.

Positron Raises $230m as Qatar Bets on Alternatives to Nvidia in the Global AI Chip Race

By
Samuel Nwite
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0

Semiconductor startup Positron has secured $230 million in Series B funding, underscoring growing investor appetite for alternatives to Nvidia as demand for artificial intelligence infrastructure intensifies and the industry searches for more efficient ways to run AI systems at scale.

The funding round, which TechCrunch learned about exclusively, was led by investors including the Qatar Investment Authority (QIA), the country’s sovereign wealth fund. The capital will be used to accelerate the deployment of Positron’s high-speed memory chips. This component has become increasingly central to AI performance as workloads shift from model training to real-world deployment, according to people familiar with the matter.

The Reno-based company’s latest raise lifts its total funding to just over $300 million in three years, marking a rapid accumulation of capital for a startup operating in one of the most competitive segments of the semiconductor industry. Positron previously raised $75 million last year from investors such as Valor Equity Partners, Atreides Management, DFJ Growth, Flume Ventures, and Resilience Reserve.

Positron’s momentum comes at a time when hyperscalers and AI developers are reassessing their heavy dependence on Nvidia, which has dominated the market for AI accelerators. Some of Nvidia’s largest customers have been exploring alternative suppliers, driven by concerns around power consumption, cost, and the pace of innovation. OpenAI, one of Nvidia’s most prominent customers, has been reported to be evaluating options beyond Nvidia’s latest chips as it looks to diversify its compute stack.

At the center of Positron’s pitch is Atlas, its first-generation chip manufactured in Arizona. The company claims Atlas can match the performance of Nvidia’s H100 GPUs while consuming less than a third of the power. That focus on energy efficiency is increasingly important as data centers grapple with rising electricity costs and capacity constraints, particularly as AI inference workloads scale rapidly across consumer and enterprise applications.

Unlike many startups that target the training of massive language models, Positron is positioning itself squarely in inference, the phase where trained models are run to generate responses, analyze data, or process video and speech in production environments. Industry analysts say this segment is poised for explosive growth as companies move from experimentation to deployment, creating sustained demand for hardware optimized for speed, efficiency, and predictable performance.

Sources familiar with Positron’s technology told TechCrunch that its chips also show strong results in high-frequency computing and video-processing workloads, expanding their appeal beyond traditional text-based AI applications. That breadth could help the company tap into sectors such as media, surveillance, autonomous systems, and financial services, where low latency and efficient data movement are critical.

Qatar’s participation in the funding round highlights a broader strategic push by the Gulf state to secure a foothold in global AI infrastructure. Through QIA, Qatar has been directing capital into what it describes as “sovereign” AI capabilities, viewing compute capacity as a strategic asset tied to economic competitiveness. That message was repeatedly reinforced at Web Summit Qatar in Doha this week, where government officials and investors framed AI infrastructure as essential national plumbing rather than a purely commercial play.

The strategy is already being backed with significant capital. In September, Qatar announced a $20 billion joint venture with Brookfield Asset Management focused on AI infrastructure, signaling a long-term commitment to data centers, compute platforms, and the ecosystems around them. Investments in startups like Positron fit into that broader ambition to position the country as a regional hub for AI services in the Middle East.

For Positron, the challenge now shifts from fundraising to execution. The AI chip market is crowded with well-capitalized players, and scaling manufacturing, securing customers, and proving performance claims in real-world deployments will be critical. Yet the combination of strong investor backing, a clear focus on inference, and growing dissatisfaction with incumbent solutions suggests the startup is entering the market at a moment when customers are more open than ever to new options.

As AI workloads continue to spread across industries, the race is no longer only about building the biggest models, but about running them efficiently, reliably, and at scale. Positron is betting that its approach to memory and power efficiency can carve out a meaningful share of that future.

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