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

NY lawmaker proposes ‘AI dividend’ to address potential job losses

Published

2 minutes ago

April 21, 2026

The proposed AI dividend would be funded by taxes on AI use and equity stakes in AI companies, paying US citizens if automation meaningfully displaces workers.

Coin Market

Coinbase’s AI payments protocol x402 launches app store for AI agents

Published

2 minutes ago

April 21, 2026

Coinbase’s x402 AI payments protocol has launched Agentic.market, a platform where AI agents can discover and use AI-friendly services.

Coin Market

Code is ‘functional’ free speech under the First Amendment: Coin Center

Published

2 minutes ago

April 21, 2026

Crypto software developers are concerned about whether they could be held criminally liable for publishing their software, following high-profile convictions last year.