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

Bybit leads funding for Malaysia’s Hata dual-licensed crypto platform

Published

26 minutes ago

April 20, 2026

The funding supports a dual-licensed platform as Malaysia expands its regulatory framework for digital assets and tokenization.

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Price predictions 4/20: SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA

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2 hours ago

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Bitcoin bulls retain control over the market, but charts show $80,000 is likely to remain a stiff overhead resistance. Will altcoins rally as BTC price consolidates?

Coin Market

One year under Paul Atkins, SEC’s crypto stance shows break with past

Published

2 hours ago

April 20, 2026

While the regulator under Atkins has dropped several cases against crypto companies, the SEC still awaits passage of a market structure bill to clarify its authority over crypto.