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

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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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Lagarde says euro-area economy is resilient, digital euro imminent

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“The digital euro will further stimulate innovation and competition in retail payments,” according to the ECB president.

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Bitget to discontinue services for some users in one-off exercise  

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Bitget says user funds are safe and exchange will continue to operate during the change.

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Crypto PACs escalate spending against Sherrod Brown in Ohio Senate race

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At least two industry-aligned PACs have poured more than $52 million into opposing Sherrod Brown’s return to the Senate.

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