Binance’s New Power Move: $2 Billion Deal Backed by Trump-Linked Stablecoin
A major investment group from Abu Dhabi is putting $2 billion into Binance — and they’re using a stablecoin called USD1, created by a company tied to the Trump family.
Zach Witkoff, co-founder of World Liberty Financial (the company behind USD1), announced the deal during a crypto event in Dubai alongside Eric Trump.
“We’re proud to share that USD1 will be the official stablecoin for MGX’s $2 billion investment in Binance,” Witkoff said in a video posted on X.
He added, “Thanks to MGX and Binance for their trust — this is just the beginning.”
Trump-Backed Crypto Project Could See a Big Boost
This deal could completely change the direction of the Trump-linked crypto project.
Donald Trump and his sons, Eric and Don Jr., have supported World Liberty Financial — even though the project has faced criticism since its launch, especially for calling crypto a “scam” in the past.
Now, thanks to this $2 billion investment, the company is part of one of the biggest crypto deals of the year — even though its full business model is still unclear.
Some are concerned about Trump’s financial involvement in crypto while running for president again.
Danielle Brian, head of the Project on Government Oversight, said, “The president is using loopholes in ethics laws that let him keep financial ties while in office.”
It’s still unclear how the White House will handle Trump’s crypto connections.
Justin Sun Helped Announce the Deal
Crypto billionaire Justin Sun helped present the USD1 announcement during a “fireside chat.”
He had already bought $75 million worth of another World Liberty Financial token, WLFI, just one day before Trump’s 2024 inauguration.
Witkoff also said that USD1 will be built directly on Sun’s Tron network.
He claimed the company plans to issue “hundreds of millions to billions” of USD1, calling it “the most transparent and regulated stablecoin,” fully backed by cash and short-term U.S. treasuries.
