Who Is Behind Aqua 1? Mystery UAE Crypto Fund Sends $100M to Trump’s Digital Wallet
A relatively unknown crypto fund, Aqua 1 Foundation, claiming to be based in the United Arab Emirates, has quietly emerged as the largest public investor in US President Donald Trump’s cryptocurrency venture, World Liberty. In late June, Aqua 1 announced a massive $100 million investment in the token project. However, Reuters investigations revealed nearly no verifiable information about its origin, funding, or leadership, especially the man named as its founding partner, Dave Lee.
No clear digital trail leads to Lee, and Aqua 1’s public email contact, Dora Lee, only issued a brief, unsigned statement. The fund described itself as being backed by “long-term, mission-aligned partners” and a team of Web3 experts. But corporate registries across the UAE, including Abu Dhabi’s Global Market and Dubai’s VARA, showed no record of Aqua 1 or its claimed affiliations.
World Liberty’s token, $WLFI, has so far funneled around $500 million into the Trump family’s pockets, according to estimates. This includes Aqua 1’s purchase, which likely sent tens of millions directly to the Trump family trust. White House deputy press secretary Anna Kelly insisted President Trump had no direct involvement, claiming the assets are managed by his children.
The identities behind other large token buyers—such as Justin Sun and DWF Labs—are known, but Aqua 1 remains shrouded in secrecy. Even crypto experts and legal professionals in the UAE couldn’t find a trace of Aqua 1 in official records. Its website, created just a month before the investment, lacks any team or ownership details.
Ethics watchdogs are alarmed. Richard Painter, former ethics lawyer for President George W. Bush, warned that this kind of anonymous investment undermines public trust. “We ought to know who is sending money to the president,” he said.
Aqua 1 has no confirmed registration in any UAE financial authority. Crypto tracking platforms show its only major activity was sending $80 million to World Liberty. Its Medium profile suggests it manages just $100 million—indicating that the Trump-linked deal is its sole major investment.
