#DigitalAssetBill
The UAE invests $2 billion in a cryptocurrency tied to the Trump family ahead of his anticipated visit to the Gulf. The Emirati company “MGX,” backed by the Abu Dhabi Sovereign Fund, announced its intention to invest $2 billion in the stablecoin “USD1,” which is predominantly owned by “World Liberty Financial,” a company linked to former US President Donald Trump.
The currency, which aims to track the value of the US dollar, will be used to complete an investment deal with the cryptocurrency trading platform “Binance.” The announcement of the deal comes less than two weeks before Trump's expected visit to the UAE, Qatar, and Saudi Arabia.
“World Liberty Financial” is managed by a close associate of Trump, and his children are involved in the project as “Web3 ambassadors.” The deal has faced criticism in American political circles, with Senator Elizabeth Warren calling it “an example of corruption and conflicts of interest.”
For its part, a White House spokesperson confirmed that Trump's assets are managed through a family fund overseen by his children, denying any conflict of interest.
