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{"actor":"system:backfill","investigation_id":"fedd75f6-e690-489e-9034-6a0d8e66d7da","kind":"publish","page_slug":"ab-dao","published_at":"2026-06-19T17:21:29.317Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"AB DAO","sections":[{"content":"The Newton Project was launched in 2018 with the stated goal of building a decentralized community economy. Early leadership included Dustin Walper, Erynn Saunders, and Tyson Leslie. On or around February 10, 2025, the Newton Project formally rebranded as AB, with Newton DAO transitioning to AB DAO, composed of all $AB token holders (formerly $NEW token holders). The rebrand was accompanied by a new governance model emphasizing community voting and decentralized decision-making. AB describes itself as a modular, heterogeneous blockchain network focused on stablecoins, payments, cross-chain interoperability, and real-world asset (RWA) integration. Its corporate architecture spans an Irish nonprofit (AB Foundation Company Limited by Guarantee), a Cayman Islands financial arm (AB Foundation), an open-source blockchain, and the AB DAO.","heading":"Background and Founding","severity":"low","sources":[{"credibility":2,"name":"Newton Renamed to AB: Decentralized Governance Upgrade Brings Major Benefits to AB DAO Community","type":"news_article","url":"https://www.coinlive.com/news/newton-renamed-to-ab-decentralized-governance-upgrade-brings-major-benefits"},{"credibility":2,"name":"What is AB? All You Need to Know About AB | Gate Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-ab-all-you-need-to-know-about-ab/8611"},{"credibility":2,"name":"AB DAO - Investment Fund Review | CryptoRank.io","type":"research","url":"https://cryptorank.io/funds/ab-dao"}]},{"content":"A core concern raised by the OCCRP/Guardian Australia investigation published on April 8, 2026 is that AB's true leadership was not publicly disclosed. Two key figures — Sui Chenggang (also known as Jacky Sui), a Chinese software developer who described himself as the 'initiator of the AB ecosystem' and identified himself as the beneficial owner of the Cayman Islands entity AB Foundation, and Lin Xiaofan (Frank Lin), a Guangdong-born entrepreneur traveling on a St. Kitts and Nevis passport — did not appear in any of AB's publicity materials or publicly available corporate documents. By contrast, the public-facing advisory board for the Irish nonprofit listed approximately two dozen current and former world leaders, including former Irish Taoiseach Bertie Ahern (who chairs the entity) and former Serbian President Boris Tadic (listed as 'blockchain moderator'). Timor-Leste President Jose Ramos-Horta also accepted an invitation to serve as adviser. Lin Xiaofan also received a Timorese diplomatic passport in July 2025, designating him as a special adviser to the Timorese president for economic and commercial affairs, the same month Lin donated $500,000 to Ramos-Horta's charity. The OCCRP noted Lin has alleged links to Chinese Communist Party 'united front' organizations.","heading":"Undisclosed Leadership and Corporate Opacity","severity":"high","sources":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"credibility":2,"name":"Partner of Trump-Backed World Liberty Linked to Sanctioned Cambodian Scam Company: Report | Decrypt","type":"news_article","url":"https://decrypt.co/363617/partner-trump-backed-world-liberty-sanctioned-cambodian-scam-company"}]},{"content":"In June 2025, AB DAO and AB Charity Foundation signed a memorandum of understanding with a newly established Timorese company, AB Digital Technology Resort Lda, to develop the 'world's first national-level blockchain theme resort' in Dili, Timor-Leste. The project envisioned a 300,000-square-meter development featuring luxury overwater villas, a yacht club, innovation offices, and a 'Sea Plaza.' The majority shareholder of the Timorese resort company was Yang Jian, a Cyprus citizen who was sanctioned by the U.S. Treasury in October 2025 for allegedly collaborating with Prince Group CEO Chen Zhi on a separate Palau resort project described by the Treasury as a 'predatory investment.' Two other individuals involved in the resort project were also sanctioned: Yang Yanming (Kimi Yang), who represented himself as resort manager and director, and Shih Ting-yu (Vivian Shih), a sanctioned Taiwanese national. Zhao Chen, a Cyprus passport holder and wife of Hu Xiaowei — alleged by Taiwanese prosecutors to be the Prince Group's 'second in command' and himself sanctioned — held 38% ownership in the resort company until mid-December 2025. All three originally sanctioned individuals were removed from the project shortly after U.S. sanctions were announced in October 2025. The MOU was terminated in November 2025. When investigators visited the site in February 2026, they found an empty plot with shrubs rather than construction activity. No evidence has been publicly established that illicit funds flowed into the development or that AB network is directly affiliated with the Prince Group.","heading":"Timor-Leste Resort Project and U.S.-Sanctioned Individuals","severity":"critical","sources":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"credibility":2,"name":"First-ever crypto resort linked to corruption, global cybercrime networks: 'Empty plot with shrubs'","type":"news_article","url":"https://www.thecooldown.com/green-business/timor-leste-crypto-resort-corruption-investigation/"},{"credibility":2,"name":"Trump-Linked Crypto Venture Faces Questions After Ties To Sanctioned Network Revealed | Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/trump-linked-crypto-venture-faces-230114470.html"},{"credibility":2,"name":"AB DAO and AB Charity Foundation to Develop World's First National-Level Blockchain Theme Resort | The Block","type":"news_article","url":"https://www.theblock.co/press-releases/360070/ab-dao-and-ab-charity-foundation-to-develop-worlds-first-national-level-blockchain-theme-resort"}]},{"content":"The Prince Group is a Cambodia-based conglomerate led by CEO Chen Zhi. U.S. authorities allege the Prince Group operates as a transnational criminal enterprise generating tens of billions of dollars annually through online fraud, forced labor in scam compounds across Southeast Asia, money laundering, bribery, and violence. The U.S. Justice Department seized $15 billion in bitcoin from Prince Group CEO Chen Zhi in what it described as its 'largest forfeiture action' against online scammers. Three individuals involved in AB's Timor-Leste resort project were subsequently sanctioned by the U.S. Treasury for alleged ties to the Prince Group. None of the sanctioned individuals have been formally charged with crimes at the time of this writing. The OCCRP investigation found no direct, documented financial link between the Prince Group and the AB DAO itself; the connections were established through the personnel of the separately incorporated resort company.","heading":"Prince Group Connections and U.S. Treasury Allegations","severity":"critical","sources":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"credibility":2,"name":"Crypto Networks Harbor Scam Syndicate Connections Threatening Southeast Asia | Apple Daily UK","type":"news_article","url":"https://appledaily.uk/crypto-networks-harbor-scam-syndicate-connections-threatening-southeast-asia/"}]},{"content":"In November 2025, AB announced a partnership with World Liberty Financial (WLFI), granting WLFI the right to deploy its USD1 stablecoin on the AB blockchain. World Liberty Financial is co-owned by entities connected to the Trump and Witkoff families. Following the April 2026 OCCRP investigation, WLFI faced scrutiny over whether it had adequately vetted its partner. WLFI's legal team stated the company conducted due diligence on AB and 'was not made aware of the resort, or of individuals linked to the Timor-Leste project.' WLFI's lawyers described claims linking the company to sanctioned individuals as 'unfounded and untrue.' Investigative reporting alleged that WLFI overlooked AB's prior promotion of the resort project connected to the Prince Group.","heading":"World Liberty Financial Partnership","severity":"high","sources":[{"credibility":2,"name":"Partner of Trump-Backed World Liberty Linked to Sanctioned Cambodian Scam Company: Report | Decrypt","type":"news_article","url":"https://decrypt.co/363617/partner-trump-backed-world-liberty-sanctioned-cambodian-scam-company"},{"credibility":2,"name":"World Liberty Financial Faces Scrutiny Over AB DAO Ties | Phemex News","type":"news_article","url":"https://phemex.com/news/article/world-liberty-financial-under-scrutiny-for-ties-with-ab-dao-71618"},{"credibility":2,"name":"World Liberty Financial Collaborates with AB Blockchain for USD1 Deployment | Binance Square","type":"news_article","url":"https://www.binance.com/en/square/post/11-13-2025-world-liberty-financial-collaborates-with-ab-blockchain-for-usd1-deployment-32314484267577"}]},{"content":"The AB token (ticker: $AB) is the native asset of the AB blockchain, serving as the gas token for transactions and smart contract execution, and as a governance token for the AB DAO. The token originated as the Newton Project's $NEW token, with holders migrating to $AB upon the rebrand. As of June 2026, the AB token trades at approximately $0.001047 USD with a market capitalization of approximately $103 million. The fully diluted valuation equals the market cap given that approximately 99 billion of the 100 billion maximum supply are in circulation. The all-time high was approximately $0.01727. The primary trading venue is Bitget, with the AB/USDT pair generating roughly $349,000 in 24-hour volume at the time of research. The token is also listed on CoinMarketCap (under the legacy Newton ticker), CoinGecko, Bybit, and Coinbase price trackers.","heading":"Token and Market Data","severity":"medium","sources":[{"credibility":2,"name":"AB Price: AB/USD Live Price Chart, Market Cap & News Today | CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/ab-dao"},{"credibility":2,"name":"AB price today, AB to USD live price, marketcap and chart | CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/newton/"}]},{"content":"AB's Irish nonprofit advisory board lists approximately two dozen current and former world leaders, a pattern that investigators noted lends the project an air of political legitimacy disproportionate to its disclosed operations. Lin Xiaofan's alleged links to Chinese Communist Party united front organizations — officially described by President Xi Jinping as a 'magic weapon' for building CCP influence abroad — were highlighted in the OCCRP investigation. Lin's receipt of a Timorese diplomatic passport shortly after donating $500,000 to the Timorese president's charity was identified by investigators as a potential avenue for influence-building. Former Serbian President Boris Tadic's role as 'blockchain moderator' and the involvement of former Irish leader Bertie Ahern as chair of the nonprofit were noted by investigators as lending credibility to the project despite the undisclosed nature of the project's actual beneficial ownership.","heading":"Political Network and Influence Concerns","severity":"high","sources":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"credibility":3,"name":"Trump-Witkoff Crypto Gave Legitimacy to a Human Trafficking Linked Network | 21st Century Wire","type":"news_article","url":"https://21stcenturywire.com/2026/04/08/trump-witkoff-crypto-gave-legitimacy-to-a-human-trafficking-linked-network/"}]},{"content":"As of the date of this investigation, no formal SEC, CFTC, DOJ, or other U.S. regulatory action has been publicly filed against AB DAO, the AB Foundation, Sui Chenggang, or Lin Xiaofan. U.S. Treasury sanctions were applied to three individuals connected to the separately incorporated Timor-Leste resort company (Yang Jian, Yang Yanming, and Shih Ting-yu), not to AB entities directly. The OCCRP investigation represents the most significant scrutiny to date. Investors and counterparties should note that the opaque corporate architecture — spanning an Irish nonprofit, a Cayman Islands foundation, and an open-source blockchain with unnamed beneficial owners — makes independent due diligence difficult.","heading":"Regulatory and Legal Status","severity":"high","sources":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"}]}],"sources_used":[{"credibility":1,"name":"Politically Connected Crypto Project Pursued Resort With Alleged Scam Syndicate Figures | OCCRP","type":"news_article","url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"credibility":2,"name":"Partner of Trump-Backed World Liberty Linked to Sanctioned Cambodian Scam Company: Report | Decrypt","type":"news_article","url":"https://decrypt.co/363617/partner-trump-backed-world-liberty-sanctioned-cambodian-scam-company"},{"credibility":2,"name":"Trump-Linked Crypto Venture Faces Questions After Ties To Sanctioned Network Revealed | Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/trump-linked-crypto-venture-faces-230114470.html"},{"credibility":2,"name":"First-ever crypto resort linked to corruption, global cybercrime networks | The Cooldown","type":"news_article","url":"https://www.thecooldown.com/green-business/timor-leste-crypto-resort-corruption-investigation/"},{"credibility":2,"name":"AB DAO and AB Charity Foundation to Develop World's First National-Level Blockchain Theme Resort | The Block","type":"news_article","url":"https://www.theblock.co/press-releases/360070/ab-dao-and-ab-charity-foundation-to-develop-worlds-first-national-level-blockchain-theme-resort"},{"credibility":2,"name":"World Liberty Financial Faces Scrutiny Over AB DAO Ties | Phemex News","type":"news_article","url":"https://phemex.com/news/article/world-liberty-financial-under-scrutiny-for-ties-with-ab-dao-71618"},{"credibility":2,"name":"Newton Renamed to AB: Decentralized Governance Upgrade | CoinLive","type":"news_article","url":"https://www.coinlive.com/news/newton-renamed-to-ab-decentralized-governance-upgrade-brings-major-benefits"},{"credibility":2,"name":"AB Price: AB/USD Live Price Chart, Market Cap & News Today | CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/ab-dao"},{"credibility":2,"name":"AB price today, AB to USD live price, marketcap and chart | CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/newton/"},{"credibility":2,"name":"AB DAO - Investment Fund Review | CryptoRank.io","type":"research","url":"https://cryptorank.io/funds/ab-dao"},{"credibility":2,"name":"What is AB? All You Need to Know About AB | Gate Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-ab-all-you-need-to-know-about-ab/8611"},{"credibility":2,"name":"Crypto Networks Harbor Scam Syndicate Connections Threatening Southeast Asia | Apple Daily UK","type":"news_article","url":"https://appledaily.uk/crypto-networks-harbor-scam-syndicate-connections-threatening-southeast-asia/"},{"credibility":2,"name":"World Liberty Financial Collaborates with AB Blockchain for USD1 Deployment | Binance Square","type":"news_article","url":"https://www.binance.com/en/square/post/11-13-2025-world-liberty-financial-collaborates-with-ab-blockchain-for-usd1-deployment-32314484267577"},{"credibility":3,"name":"Trump-Witkoff Crypto Gave Legitimacy to a Human Trafficking Linked Network | 21st Century Wire","type":"news_article","url":"https://21stcenturywire.com/2026/04/08/trump-witkoff-crypto-gave-legitimacy-to-a-human-trafficking-linked-network/"}],"summary":"AB DAO (ticker: $AB) is a decentralized autonomous organization and blockchain ecosystem that emerged in early 2025 from the rebranding of the Newton Project (formerly $NEW), originally founded in 2018. The project attracted significant investigative scrutiny in April 2026 when a joint OCCRP and Guardian Australia investigation found that AB-affiliated entities promoted a Timor-Leste crypto resort project that involved multiple individuals subsequently sanctioned by the U.S. Treasury for alleged ties to the Prince Group, described by U.S. authorities as a multibillion-dollar online fraud syndicate. AB also announced a blockchain partnership with World Liberty Financial, a cryptocurrency project co-owned by Trump family members, in November 2025.","timeline":[{"date":"2018-01-01","event":"Newton Project founded with the goal of building a decentralized community economy.","source":"BingX Academy / Gate Learn","source_url":"https://bingx.com/en/learn/what-is-ab"},{"date":"2025-02-10","event":"Newton Project rebrands as AB; Newton DAO becomes AB DAO with $NEW token holders migrating to $AB.","source":"CoinLive","source_url":"https://www.coinlive.com/news/newton-renamed-to-ab-decentralized-governance-upgrade-brings-major-benefits"},{"date":"2025-04-10","event":"AB announces the launch of AB Core and a next-generation wallet solution.","source":"Bitkan","source_url":"https://bitkan.com/learn/what-is-ab-and-how-is-ab-dao-shaping-the-blockchain-ecosystem-49871"},{"date":"2025-06-01","event":"AB DAO and AB Charity Foundation sign an MOU with AB Digital Technology Resort Lda to develop a blockchain theme resort in Dili, Timor-Leste.","source":"The Block (press release)","source_url":"https://www.theblock.co/press-releases/360070/ab-dao-and-ab-charity-foundation-to-develop-worlds-first-national-level-blockchain-theme-resort"},{"date":"2025-07-01","event":"Lin Xiaofan donates $500,000 to Timor-Leste President Ramos-Horta's charity. Ramos-Horta issues Lin a diplomatic passport, designating him special adviser for economic and commercial affairs.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"date":"2025-10-01","event":"Sui Chenggang meets World Liberty Financial executives including Donald Trump Jr. in Singapore.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"date":"2025-10-01","event":"U.S. Treasury sanctions Yang Jian, Yang Yanming (Kimi Yang), and Shih Ting-yu (Vivian Shih) for alleged ties to Prince Group CEO Chen Zhi and the Palau resort project.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"date":"2025-11-01","event":"AB announces partnership with World Liberty Financial, granting WLFI the right to deploy its USD1 stablecoin on the AB blockchain.","source":"Binance Square / Decrypt","source_url":"https://decrypt.co/363617/partner-trump-backed-world-liberty-sanctioned-cambodian-scam-company"},{"date":"2025-11-01","event":"Timor-Leste resort MOU terminated. Three sanctioned individuals removed from AB Digital Technology Resort Lda shortly after U.S. sanctions announcement.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"date":"2025-12-15","event":"Zhao Chen (wife of alleged Prince Group 'second in command' Hu Xiaowei) divests her 38% stake in the Timor-Leste resort company.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"},{"date":"2026-02-01","event":"OCCRP and Guardian Australia investigators visit the proposed Timor-Leste resort site and find an empty plot with shrubs — no construction activity.","source":"The Cooldown / OCCRP","source_url":"https://www.thecooldown.com/green-business/timor-leste-crypto-resort-corruption-investigation/"},{"date":"2026-04-08","event":"OCCRP and Guardian Australia publish joint investigation linking AB DAO's resort project to U.S.-sanctioned individuals with alleged ties to the Prince Group fraud syndicate.","source":"OCCRP","source_url":"https://www.occrp.org/en/investigation/politically-connected-crypto-project-pursued-resort-with-alleged-scam-syndicate-figures"}]},"v":1}