In a major move that's stirring the crypto world, Abu Dhabi-based investment firm MGX announced a $2 billion investment in #Binance. The twist? The entire investment is being made using the #USD1 stablecoin — a new asset backed by former U.S. President Donald Trump.
#USD1, launched with the help of #BitGo, is fully backed by U.S. Treasuries, cash, and equivalents, aiming to maintain a stable $1 peg, similar to major stablecoins like #USDT and #USDC. This investment marks one of the largest injections of capital into Binance in recent months and signals increasing confidence in stablecoin-based finance.
The deal also hints at a growing intersection between #politics and #crypto, especially with Trump recently showing renewed support for #blockchain innovations.