ABU DHABI FIRM TO INVEST IN BINANCE WITH TRUMP CRYPTO VENTURE’S STABLECOIN
Abu Dhabi-backed investment firm MGX is using USD1, a stablecoin launched by World Liberty Financial, for its $2 billion investment in crypto exchange Binance. The announcement, made by World Liberty co-founder Zach Witkoff at TOKEN2049 in Dubai, formalizes a direct link between a Trump family venture and the world’s largest crypto exchange, with a foreign government-backed fund right in the mix. The deal comes as Binance’s founder, Changpeng Zhao, has reportedly been seeking a pardon from the Trump administration after he pleaded guilty to a money laundering violation and spent four months in a federal prison.