In a landmark move, Binance has finalized a $2 billion investment deal with Abu Dhabi-based MGX, utilizing the Trump-backed World Liberty Financial's USD1 stablecoin. This marks the largest crypto investment to date and the first institutional investment in Binance, signaling a significant shift in the crypto landscape.

The deal, announced at the TOKEN2049 conference in Dubai, positions USD1 as a new contender in the stablecoin market, challenging leaders like USDT and USDC. World Liberty Financial, co-founded by Eric Trump and Zach Witkoff, aims to establish USD1 as a fully-backed, dollar-denominated stablecoin.

This development has sparked political scrutiny, with Senator Elizabeth Warren expressing concerns over potential conflicts of interest and the need for regulatory oversight in the stablecoin sector.

Meanwhile, Bitcoin has surged by 30% from its April low, reaching highs not seen since February, trading around $97,200. Institutional interest continues to grow, with firms like Metaplanet and Strategy announcing plans to raise substantial funds for further Bitcoin acquisitions.

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