#BinanceLiveFutures #cysptofeature #donaldtrump Most purchases of Trump crypto assets were likely via foreign wallets
Parlatore, the World Liberty lawyer, said that more foreigners than Americans have bought crypto because there are more of them, and that crypto has higher penetration rates outside the U.S. He added: “It was basically harder to sell WLFI tokens to American investors, especially initially, as the rules were very restrictive in the last administration when the token sale began.”
Among the largest buyers of the tokens is Justin Sun, a Hong Kong-based crypto billionaire. The SEC in 2023 charged Sun with fraud, selling unregistered crypto securities and hiding payments to celebrities to promote his products. With Trump back in the White House, the commission paused the case in February, just weeks after Sun announced he had increased his total purchases of World Liberty tokens to $75 million. Under the terms of World Liberty’s cash distribution agreement with its co-founders, Sun’s token purchases would have sent $56 million to the Trump family.
Justin Sun did not respond to a request for comment. An SEC spokesperson declined to comment. The investigation remains paused.
Foreign interests juiced the Trump family’s income through the World Liberty USD1 stablecoin, too. In May, MGX, a state-controlled Abu Dhabi investment company, used the coin to buy a $2 billion equity stake in Binance, the world’s largest crypto exchange. The deal still accounts for three-quarters of all USD1 coins in circulation, though World Liberty has cited it as evidence of “extraordinary, worldwide demand” for the stablecoin.
The board chairman of MGX is Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and a brother of UAE President Sheikh Mohamed bin Zayed. The $2 billion MGX paid to create the stablecoins is held in cash equivalents such as U.S. Treasury securities. World Liberty says on its website that those securities kick off interest payments to some of its affiliates, including one 38%-owned by the Trump Organization.