UAE - Backed Fund Invests $2B in Binance Using Trump - Linked Stablecoin

Abu Dhabi - based investment firm MGX is set to acquire a $2 billion minority stake in Binance , the world ' s largest cryptocurrency exchange . This investment will be made using USD1, a stablecoin developed by World Liberty Financial - a company co - founded by Eric $TRUMP Trump and Zach Witkoff , with former President Donald Trump serving as its " chief crypto advocate ."

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The USD1 stablecoin is pegged to the U . S . $dollar and fully backed by U . S . Treasuries , cash , and other equivalents , aiming to maintain a stable $1 value . The deal was announced at the TOKEN2049 conference in Dubai , highlighting the growing relationship