In a curious development in the world of political funding in cryptocurrencies, one of the most secretive money trails in US politics has just been revealed.
Aqua 1 appeared to be a Gulf investor with ties to the United Arab Emirates, but new reports confirm that the entity is actually connected to Web3port, a market making company with a bad reputation in the Web3 industry.
Many believed that Aqua 1 was an Emirati-registered group, and were surprised when it invested $100 million in World Liberty Financial, a pro-Trump group that claimed to have significant funds for a cryptocurrency-focused campaign.
And those alleged origins in the Gulf? They turned out to be a mere cover-up.
Investigative sources have now found a direct link between the Aqua 1 entity and Web3port, a market making company now out of business and known for using questionable methods.
"Aqua 1, an unknown company that gave $100 million to Trump's World Liberty Financial, is actually the discredited Web3port," Wrote Zommer on X.
Web3port: banned and renamed
Web3port was a significant player in the world of decentralised finance (DeFi), but in 2023 it was banned from several prominent DEX platforms over allegations of market manipulation. The company was accused of creating exchange schemes that distorted token prices, raising broader concerns about the impact of market makers on cryptocurrency stability.
In 2025, the name Web3port came to the fore again in investigations into how some MM companies contributed to making crypto markets less stable, most notably in the chaos related to Binance, GoPlus Security, MyShell and Movement.
Although the founder of Web3port was at the centre of various scandals, he always remained in the shadows.
He was only known online as 'Dave Lee', a fake alias accompanied by an anime avatar. There are no official records of this name, either in personal or professional contexts.
According to official documents, Aqua 1 is not legally registered as a company in the United Arab Emirates. Nor are there any public reports about its executives, financiers or actual presence.
And yet, this fictitious company somehow managed to channel $100 million into Trump's crypto platform, touted as an infrastructure for "digital freedom".
The money trail? A network of offshore wallets and shell companies, all linked to people already known to be collaborating with Web3port.
A bigger question: ethics and power
These findings raise new questions: is this a covert attempt to acquire power?
Is it possible that unregistered lobbying or foreign interference is taking place?
While Trump's crypto allies celebrate the funding success, regulators and watchdogs are beginning to investigate.
The affair is still evolving, and World Liberty Financial is expected to make new statements in the coming days.
