An individual previously investigated in the United Kingdom for money laundering in connection with the collapse of a cryptocurrency business was reportedly behind a $100 million token purchase from the Trump family's crypto venture, World Liberty Financial.

According to a Sunday report by The New York Times, Guren Zhou — also known as Bobby Zhou — was the figure behind the Aqua 1 entity that acquired $100 million worth of WLFI tokens from World Liberty Financial in June 2025. The transaction provided financial gains to members of US President Donald Trump's family as well as to World Liberty co-founder Zach Witkoff.

Independent reporting by Jacob Silverman had earlier raised questions about the identity of the individual behind the Aqua 1 purchase.

Dave Lee Connection and Aqua 1's Statements

Zhou's reported role in the World Liberty token acquisition followed widespread speculation that the person behind Aqua 1 was Dave Lee. The Aqua 1 Foundation acknowledged in a July 2025 post on X that Lee had joined the organization as co-founder and CEO in April 2025. However, the foundation did not clarify whether Lee was the source of the funds used to purchase the WLFI tokens.

Aqua 1 has described itself as a "Web3-native fund" based in the United Arab Emirates, a detail that has added to scrutiny around who was funding one of the venture's largest disclosed token purchases.

Conflict of Interest Concerns

The origin of Aqua 1's investment has drawn scrutiny over potential conflicts of interest within the Trump administration, as foreign actors maintain financial ties to the president's family crypto company. White House spokesperson Anna Kelley has repeatedly stated that there are "no conflicts of interest" regarding the president's investments.

According to The New York Times, how Zhou was able to commit millions of dollars to World Liberty remained a "mystery," given his 2021 arrest in the UK on suspicion of money laundering and the subsequent collapse of a multimillion-dollar crypto business he had launched.

World Liberty Financial has attracted several high-profile backers amid ongoing scrutiny of Donald Trump's cryptocurrency ventures. Tron founder Justin Sun initially invested $45 million in the company's tokens. A separate Abu Dhabi-based entity backed by Sheikh Tahnoon bin Zayed Al Nahyan reportedly took a $500 million stake in the venture.

Broader Political Scrutiny

The revelations add to a growing chorus of lawmakers raising concerns about the intersection of Trump family business dealings and US policy. Senator Elizabeth Warren has previously questioned US AI chip policy in light of Trump-linked crypto investments, particularly regarding ties between foreign entities and the president's family enterprises.

World Liberty Financial, launched as a decentralized finance platform, has been a focal point of debate over the ethics of a sitting US president's family operating a cryptocurrency business while in office, and the latest reporting is likely to keep attention on disclosure, governance, and the sources of capital behind major crypto purchases tied to politically connected ventures.