One of the strangest crypto–political money trails just got a name. What began as a mystery involving an unknown UAE-linked donor called “Aqua 1” has now taken a dramatic turn.
Reports reveal connections to a collapsed market-making firm with a checkered history in Web3.
Aqua 1 Unmasked: Web3port, a Banned MM Firm, Behind Trump’s Crypto Power Play
Sources indicate “Aqua 1,” which previously claimed UAE registration and attempted to present itself as a Gulf-based investment outfit, is actually a rebranded shell used by the founders of Web3port.
While the Trump-aligned World Liberty Financial vehicle was quick to trumpet its $100 million war chest, few details about where the funds came from were ever made public. This has changed.
Investigations traced the funds back not to a Gulf-based sovereign player, but to Web3port.
Notably, Web3port is a market maker (MM) quietly expelled from leading decentralized exchanges in 2023 due to manipulation allegations.
It has also made headlines this year amid investigations into whether market makers create crypto chaos, as seen in the Binance controversy involving GoPlus Security, MyShell, and Movement.
Web3port’s supposed founder, known online only as “Dave Lee,” has no verifiable background, as he operated under an anime avatar across platforms.
Dave Lee, founder of Aqua 1. Source: X (Twitter)
Regulatory filings show no incorporation of Aqua 1 in the UAE or publicly disclosed leadership.
The $100 million in funding to Trump’s World Liberty Financial, purportedly earmarked for “digital freedom infrastructure,” was funneled through opaque wallets and offshore entities now traced to Web3port associates.
