Eric Trump: USD1 will be used for $2B MGX investment in Binance
Thursday, 1 May 2025 ()
Abu Dhabi-based investment firm MGX will be tapping a US President Donald Trump-related stablecoin to settle its $2 billion investment into Binance, the world’s largest cryptocurrency exchange.
The World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-linked World Liberty Financial (WLFI) crypto platform in March 2025.
MGX will use the USD1 stablecoin for its $2 billion investment into Binance exchange, announced Eric Trump, the son of the US president and the executive vice president of the Trump Organization, during a panel discussion at Token 2049 Dubai.
Source: Cointelegraph
MGX announced its $2 billion stablecoin investment into Binance on March 12, marking the first institutional investment in the exchange and potentially the biggest funding deal in the entire Web3 industry.
At the time, Binance declined Cointelegraph’s request to disclose what stablecoin was used in the transaction.
This marks the Abu Dhabi-based investment firm’s first venture into the cryptocurrency space.
*Related: **Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy*
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