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Abu Dhabi-backed MGX chose Trump's USD1 for a $2 billion Binance deal

Reporting and findings

  1. reported

    A co-founder of the Trump-family crypto venture World Liberty Financial announced that Abu Dhabi-backed MGX would use $2 billion in its USD1 stablecoins to close an investment in Binance.

Summary and current status

World Liberty co-founder Zach Witkoff announced that USD1 would be the official stablecoin used to close MGX's investment in Binance.

Transaction mechanism announced

People and organizations

Relationships in this file

  1. Donald J. Trumpco-founded family venture whose stablecoin closed MGX dealMGX Binance investment settled with USD1

Money trail

  1. investmentMGX investment announced for USD1 settlement$2 billion
    Reported investor / source
    MGX
    Reported investment recipient
    Binance
    reported · 2025-05-01 · observedRead source record
    Calculation detailsPopulation MGX's announced investment in Binance to be settled using World Liberty Financial's USD1 stablecoinPeriod 2025-05-01 to 2025-05-01Basis Use the investment face value Reuters reported from the May 1, 2025 announcement.Limits The amount is investment principal, not revenue or fees to World Liberty Financial. This is the same MGX-Binance transaction typed on three money-power records and must not be added to those observations.