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America First Audit

He said it in public. These are the documents on what happened next. Browse all records.

Why these cases

Trump sold “America First.” This record traces how public money, power, and risk moved toward family businesses, donors, favored firms, and foreign governments: and what workers, ranchers, retirees, patients, veterans, and small investors were left to absorb.

Said vs. done

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Case 216 of 254

Foreign Capital Through USD1

Actions
reportedMGX announced that it would use USD1 to settle a $2 billion investment in Binance.Kitco NewsBitGoRead record · 2 sources
People and impacts
Who gained
  • Binance
Who paid or was affected
documentedBitGo's current USD1 terms identify BitGo as the issuer, require segregated reserve assets for USD1 users and state that users are not entitled to reserve interest or returns.Open cited record
  • USD1 holders and users
  • MGX

Amounts and affected parties

  1. investmentMgx Binance Usd1 Principal$2 billion transaction principal
    Investor / source
    MGX
    Investment recipient
    Binance
    realized · 2025-05-01 · observedRead source record
    Calculation detailsPopulation MGX; Binance; USD1 holders and usersPeriod 2025-05-01 to 2025-05-01Basis Use the announced transaction principal; do not classify it as issuer income.Limits Public evidence does not disclose how long the USD1 remained outstanding or what fees accrued.
Promise and assessment
The promise
documentedTrump ordered a policy intended to promote dollar-backed stablecoins and U.S. leadership in digital assets.The White HouseRead record · 1 source

Promise unresolved

The foreign transaction path and the scale of the reserve are documented. The $2 billion was investment principal paid to Binance rather than WLF revenue, and public evidence does not establish how reserve yield or fees were allocated to WLF or to Trump.

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