TRUMP'S LOVE FOR CRYPTOCURRENCIES !!!

An Abu Dhabi state-backed investment firm is making a major $2 billion investment in a crypto business deal that could serve as a major boost for Trump family crypto venture World Liberty Financial, according to Zach Witkoff, co-founder of World Liberty Financial.

USD1, World Liberty Financial's so-called "stablecoin" -- a digital asset designed to maintain a stable value -- is expected to be used to complete Emirati investment firm MGX's $2 billion investment transaction in crypto exchange Binance, Witkoff said during an appearance with President Donald Trump's son Eric Trump at a crypto convention in Dubai this week.

"We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX's $2 billion investment in Binance," Witkoff announced in a video recording of the event posted on X. "We thank MGX and Binance for their trust in us, and I think it's only the beginning."

After once deriding cryptocurrency as a "scam," President Donald Trump last September announced he and his sons Eric and Don Jr. were throwing their support behind World Liberty Financial, though its business model was largely unclear. This week's development is the latest example of a foreign entity making a major investment that could boost a Trump family business.

Cryptocurrency and ethics experts told ABC News that the timing and scope of the Trump family's foray into cryptocurrencies raise questions about whether investors -- including those from overseas -- could try to leverage their investments to curry favor with the administration. Critics have raised issues with the Trump administration's regulatory role over cryptocurrencies while he stands to personally benefit from cryptocurrency ventures.

"Essentially, the president is taking the weakness in our current ethics laws that allow a president to continue to hold financial interests in businesses while he's in a position of presidency to just a whole new level in this administration," said Danielle Brian, executive director of the Project . .