A New Power Play for Binance: Billion-Dollar Emirati Investment Backed by Trump’s USD1

Abu Dhabi's state-backed investment business will invest $2 billion in Binance using USD1, a stablecoin established by Trump family-affiliated World Liberty Financial.

ABC News said that Zach Witkoff, co-founder of World Liberty Financial, announced the deal during a crypto event in Dubai with Eric Trump.

“We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance,” Witkoff stated in an X video.

“We thank MGX and Binance for their trust, and I think it's only the beginning.”

$2B Deal Could Change Trump-Backed Crypto Venture
This agreement might transform the Trump-backed enterprise.

Donald Trump and his sons Eric and Don Jr. promote World Liberty Financial, which has been criticized since its start for calling cryptocurrency a “scam.”


The MGX acquisition puts the project at the heart of one of the year's biggest crypto transactions, despite its unclear business strategy.

Trump's financial links to cryptocurrencies while running for office have prompted ethical questions.

“The president is exploiting ethics law loopholes that allow sitting presidents to retain financial interests,” said Project on Government Oversight executive director Danielle Brian.

How the White House manages Trump's crypto interests is unknown.


Crypto billionaire Justin Sun mediated the USD1 announcement during a “fireside chat”.

Sun, who has been regulated, bought $75 million worth of WLFI, another World Liberty Financial coin, a day before Trump's 2024 inauguration.

Witkoff also said World Liberty Financial would natively integrate USD1 with Sun's Tron network.

He said the business plans to manufacture “hundreds of millions to billions of dollars” of USD1, “the most transparent, the most regulated stablecoin in the world,” backed one-to-one by short-term treasuries and cash equivalents.

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