$BTC Bitcoin Breaks $103K, Trump-Linked Stablecoin Powers $2B Binance Deal
As of May 8, 2025, Bitcoin (BTC) has surged past the $103,000 mark, trading at approximately 103,158 USDT, marking a 6.52% increase in the past 24 hours. Ethereum $ETH (ETH) also experienced a significant uptick, surpassing $2,200 with a 22.35% gain in the same period.
💼 Major Investment: $2B Binance Stake via Trump-Backed Stablecoin
In a notable development, Abu Dhabi-backed investment firm MGX announced a $2 billion minority stake acquisition in Binance. The transaction will utilize USD1, a stablecoin launched by World Liberty Financial, a company associated with the Trump family. USD1 is pegged to the U.S. dollar and fully backed by U.S. Treasuries and cash equivalents.
The deal, unveiled at the TOKEN2049 conference in Dubai, signifies a growing relationship between Binance and the United Arab Emirates. It also highlights the Trump family's increasing involvement in the cryptocurrency sector, with former President Donald Trump serving as "chief crypto advocate" for World Liberty Financial.
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⚖️ Regulatory Context
This investment comes amid Binance's efforts to navigate regulatory challenges. Following a 2023 guilty plea for violating anti-money-laundering laws, Binance has been under U.S. federal oversight. The company is currently seeking to reduce or remove this oversight, with executives engaging in discussions with the U.S.
The involvement of the Trump family in the deal has raised ethical questions, particularly regarding potential conflicts of interest and the use of a politically affiliated stablecoin in a major financial transaction.