Hut 8, a Bitcoin mining firm linked to the Trump family, raised $220 million to expand its operations and acquired a new office in Dubai, a flourishing crypto hub. The company, which is the majority owner of American Bitcoin co-founded by Eric Trump, disclosed its plans to use these funds to purchase Bitcoin and mining infrastructure. The Dubai office will focus on trading and digital asset strategies, adding to Hut 8's existing facilities in the U.S. The Trump family's involvement in various crypto ventures aligns with their broader strategy aimed at promoting the U.S. as a leader in crypto innovation, while also establishing significant ties with the UAE, which is known for its low taxes and lenient regulations. The growing presence of Trump-linked projects in Dubai has raised concerns about the potential for financial crime and money laundering within the region, as investigations highlight the city as a haven for illicit financial flows.

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