#USSStablecoinBill $USDC

🇦🇪 Major Investment in Binance via Trump-Linked Stablecoin

Abu Dhabi-based investment firm MGX is set to acquire a $2 billion minority stake in Binance, the world's largest cryptocurrency exchange. This investment will be facilitated using USD1, a stablecoin launched by World Liberty Financial—a crypto firm associated with the Trump family. The announcement was made at the TOKEN2049 conference in Dubai by World Liberty co-founder Zach Witkoff and Eric Trump. USD1 is pegged to the U.S. dollar and backed by U.S. Treasuries and cash equivalents.

The deal has sparked controversy, with concerns about potential conflicts of interest, especially given Binance's history of regulatory scrutiny in the U.S. Former President Donald Trump, now a vocal crypto advocate, may financially benefit from the transaction through interest earned on token deposits.