BlockBeats news, on May 16, Binance founder CZ shared a video related to a leading question posed to Trump during an interview about 'a UAE company completing a $2 billion deal using TRUMP cryptocurrency' and stated, 'This is a typical example of FUD. The questions in the interview are wrong, vague, and misleading. If this question refers to MGX's $2 billion investment in Binance, that deal was completed using the USD1 stablecoin. This has nothing to do with the TRUMP token; TRUMP is just a meme coin.'
'This is an investment transaction between an investor in Abu Dhabi and a private company. The transaction can be conducted using any currency, such as Bitcoin, UAE Dirham, US Dollar, or USD1, depending mainly on the payer's choice. The recipient can convert the funds into any other currency after receiving the payment. Binance offers the best liquidity globally. FUD, 4. Finally, there are more fiat/stablecoins available for purchase at lower prices, by the way.'
BlockBeats previously reported that cryptocurrency exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2 billion investment deal, which is Binance's first institutional investment to date and represents the largest single investment in a cryptocurrency company, as well as the largest investment ever in cryptocurrency (stablecoin). This investment marks MGX's first entry into the cryptocurrency and blockchain space, acquiring a minority stake in Binance.
USD1 is a stablecoin launched by the Trump family's cryptocurrency project WLFI, backed by US Treasury bonds, US dollars, and other cash equivalents. Trump's son Eric Trump announced that USD1 has been officially selected as the stablecoin for Abu Dhabi investment institution MGX to complete its $2 billion investment in Binance.