World Liberty Stablecoin to be Used to Complete MGX’s $2 Billion Investment in Binance: Eric Trump
Omkar Godbole, Parikshit Mishra | Edited by Parikshit Mishra Updated May 2, 2025, 00:54 Published May 1, 2025, 9:27
Eric Trump, son of US President Donald Trump, announced that World Liberty Financial’s dollar-denominated stablecoin (USD1) has been officially designated as the stablecoin to complete MGX’s $2 billion investment in Binance.
Speaking at the Token2049 event in Dubai, Trump also announced that USD1 would be introduced into the Tron ecosystem, backed by billionaire Justin Sun. Sun is also an investor in World Liberty Financial’s WLFI token, purchasing $75 million worth of tokens.
Earlier this year, Abu Dhabi-based investment firm MGX announced it would invest $2 billion to acquire a stake in Binance, marking one of the first institutional investments in the world’s largest crypto exchange.
Trump family-backed World Liberty Financial announced plans in March to launch a dollar-backed stablecoin in partnership with BitGo.
“USD1 will be one of the most transparent and regulated stablecoins in the world. It is backed by short-term Treasury bonds and cash equivalents. We are looking to create a product that can be sent seamlessly across borders, and transparency and consumer safety are paramount, right?” Trump said.
Speaking at the same event, World Liberty co-founder Zach Witkoff hinted at the possibility of further collaboration within the DeFi protocol.
“We have a lot of projects at World Liberty, so stay tuned. We are actively working on a lot of different DeFi integrations. We are currently working on making USD1 the stablecoin of choice in the DeFi and CeFi ecosystems. We are working hard on integrations with traditional retail systems,” Witkoff said.
In her comments, US Senator Elizabeth Warren, who has long expressed skepticism about the cryptocurrency space, called the move corrupt.
“A shadowy fund backed by a foreign government just announced it would be making a $2 billion deal using Donald Trump’s stablecoins. Meanwhile, the Senate is preparing to pass the GENIUS Act, the stablecoin law
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