💰 Trump-Linked Stablecoin Powers $2B Investment in Binance
Abu Dhabi-backed investment firm MGX is set to acquire a $2 billion minority stake in Binance, utilizing the USD1 stablecoin developed by World Liberty Financial—a crypto venture co-founded by Eric Trump. The USD1 stablecoin is pegged to the U.S. dollar and fully backed by U.S. Treasuries and cash equivalents.
📉 Market Snapshot
• Bitcoin (BTC): Trading around $94,606, down 0.92% over the past 24 hours. $BTC
• Ethereum (ETH): Dropped below $1,800, currently at $1,799.96, with a 1.75% decrease in 24 hours. $ETH
• BNB: Currently priced at $593.26, experiencing a slight decline of 0.00309%.$BNB
🏛️ Regulatory Landscape
Binance is actively engaging with U.S. Treasury officials to reduce or eliminate federal oversight imposed after its 2023 guilty plea for violating anti-money laundering laws. The exchange is also exploring a partnership with World Liberty Financial to list the USD1 stablecoin, aiming to facilitate its reintegration into the U.S. market.