A $2 billion investment from Abu Dhabi’s MGX into Binance, using World Liberty Financial’s USD1 stablecoin, marks a major win for the Trump family’s crypto venture. Announced at a Dubai conference, the deal underscores the rising influence of World Liberty Financial, co-founded by Zach Witkoff, alongside Eric Trump’s involvement.
Launched in March 2025, USD1, pegged to the U.S. dollar and backed by treasuries, aims to simplify financial transactions without banks. Witkoff revealed plans to integrate USD1 with Tron’s blockchain, targeting everyday retail use, from New York delis to global luxury hotels. The venture has raised $550 million, fueled by investors like Justin Sun, who invested $75 million.
Ethics experts question the deal’s implications, citing potential conflicts given Trump’s regulatory influence over crypto. Critics, including Senator Elizabeth Warren, warn of corruption risks as the Senate considers stablecoin legislation. Despite Trump’s assets being managed by his children, transparency concerns persist, with no financial disclosures released. World Liberty Financial’s bold vision and high-profile backing signal a transformative moment for crypto, but scrutiny over its ties to political power grows.