Coin Market

Eric Trump: USD1 will be used for $2B MGX investment in Binance

Published

12 months ago

May 1, 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.

Coin Market

Philippines SEC warns on dYdX, six other unauthorized crypto platforms

Published

40 minutes ago

April 21, 2026

Promoters of flagged platforms may face fines of up to 5 million Philippine pesos ($89,000) or up to 21 years in prison under Philippine securities law.

Coin Market

Scammers demand crypto from stranded ships in Strait of Hormuz: Report

Published

40 minutes ago

April 21, 2026

Shipping companies stranded near the Strait of Hormuz are reportedly being targeted by scammers posing as Iranian authorities, demanding Bitcoin or USDt for “safe passage.”

Coin Market

Bitcoin risks losing $70K as Strategy’s STRC slips below $100

Published

2 hours ago

April 21, 2026

STRC’s dropped below its $100 par value, indicating that Strategy will likely pause Bitcoin buying this week, which could help the bears pull price down to $70,000.