MGX Completes $2 Billion Binance Investment Using Trump-Linked Stablecoin

Abu Dhabi-based investment firm MGX has completed a landmark $2 billion investment in Binance, the world’s largest cryptocurrency exchange, using the Trump family-linked stablecoin, USD1, issued by World Liberty Financial (WLFI). Eric Trump announced at Token2049 in Dubai that USD1 was officially chosen as the settlement asset for the transaction, marking a significant institutional endorsement for both Binance and the Trump-affiliated stablecoin. USD1, which is pegged to the US dollar and backed by short-term treasuries and cash equivalents, aims to become one of the most transparent and regulated stablecoins, according to Eric Trump and WLFI’s co-founder. The deal marks MGX’s first foray into crypto and represents one of the largest single investments in the Web3 industry to date. This development has fueled speculation about further integration of USD1 on Binance and could shift stablecoin trading dynamics, especially as USD1’s fully diluted valuation has already surpassed other major stablecoins. Market observers are closely watching how this collaboration might influence crypto trading strategies and the regulatory landscape.