Abu Dhabi’s MGX fund is set to acquire a $2 billion minority stake in Binance using USD1, a stablecoin launched by World Liberty Financial a firm co-founded by Eric Trump. This transaction marks the largest institutional investment in Binance to date and underscores the growing ties between the Trump family and the cryptocurrency sector.
The deal, announced at the TOKEN2049 conference in Dubai, has sparked political scrutiny. Senator Elizabeth Warren criticized the move, citing potential conflicts of interest, especially given Binance’s ongoing regulatory challenges in the U.S.
