🏦 Major Investment Deal: Trump-Linked Stablecoin Powers $2B Binance Stake

A UAE-backed investment firm, MGX, is finalizing a $2 billion minority stake in Binance, utilizing USD1—a stablecoin launched by Donald Trump’s World Liberty Financial. This deal, announced at the TOKEN2049 conference in Dubai, marks one of the largest institutional crypto investments to date. USD1 is fully backed by U.S. Treasuries and cash equivalents, positioning it as a contender in the stablecoin market dominated by USDT and USDC. 

The transaction has raised ethical concerns due to potential conflicts of interest, especially as Binance is under U.S. federal oversight following an anti-money-laundering conviction in 2023. Binance’s founder, Changpeng Zhao, served four months in prison and is reportedly seeking a Trump pardon #TradeStories