UAE-backed fund to use Trump family’s cryptocurrency to buy $2B stake in Binance: report
- World Liberty Financial, a crypto firm partly owned by Donald Trump’s family, announced at the May 2025 Token2049 conference in the UAE a $2 billion Binance stake using its USD1 stablecoin.
- This development comes after MGX, a government-backed investment fund from Abu Dhabi led by a prominent member of the ruling family, chose to make its Binance investment through the USD1 stablecoin created by World Liberty Financial.
- Eric Trump and Zach Witkoff, co-founder of World Liberty, publicly linked the deal, which would raise USD1’s supply by up to 2 billion units, amid ongoing regulatory scrutiny of Binance for financial crimes.
- Zach Witkoff expressed gratitude toward MGX and Binance for placing their confidence in World Liberty, even as critics and analysts sounded alarms over ethical and corruption risks linked to foreign-backed transactions involving Trump’s cryptocurrency assets.
- This $2 billion transaction intertwines Trump-related crypto ventures with foreign government funds, intensifying fears over conflicts of interest and possible influence-peddling while Trump remains politically active.
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93 Articles
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Trump's stablecoin chosen for $2 billion Abu Dhabi investment in Binance, co-founder says
A stablecoin launched by Donald Trump's World Liberty Financial crypto venture is being used by an Abu Dhabi investment firm for its $2 billion investment in crypto exchange Binance, one of World Liberty's co-founders said on Thursday.It's the latest in a series of Trump family crypto-related ventures, including a "meme coin" launched in January, that have drawn criticism from government ethics experts and political opponents over potential conf…
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