Major Investment Deal: UAE Fund to Acquire $2B Stake in Binance Using Trump-Linked Stablecoin.
A UAE government-backed fund, MGX, plans to acquire a $2 billion minority stake in Binance using USD1, a stablecoin launched by Donald Trump's World Liberty Financial. The USD1 stablecoin is pegged to the U.S. dollar and fully backed by U.S. Treasuries, cash, and other equivalents. This move signifies a growing relationship between Binance and the United Arab Emirates.