Zach Witkoff announces USD1 for MGX's $2 billion Binance investment

Date: 2025-05-01
Entry type: foreign-crypto-transaction
Current status: USD1 named as settlement asset for MGX's $2 billion Binance investment

MGX's $2 billion Binance investment was announced for settlement with World Liberty Financial's USD1 stablecoin.

Entities and roles

Zach WitkoffWLF co-founder who announced the settlement asset
Donald J. Trumpnetwork root

Relationships in this file

Donald J. Trumpannounced state-backed USD1 transactionZach Witkoff
businesspoliticalreported3 sourcesCited claim 1

Money trail

investmentMGX investment settled with USD1$2 billion
Investor / source
MGX
Investment recipient
Binance
realized · 2025-05-01 · observedPopulation MGX's announced investment in Binance settled using World Liberty Financial's USD1 stablecoinPeriod 2025-05-01 to 2025-05-01Basis Use the $2 billion investment face value reported by Reuters from Zach Witkoff's announcement and independently described by AP and Public Citizen.Limits The sources report the settlement mechanism, but this transport does not independently verify the complete on-chain path, reserve duration, interest earned, or fees generated for World Liberty.Open cited evidence

Claims and evidence

factreported
Reuters reported that World Liberty co-founder Zach Witkoff announced that Abu Dhabi-backed MGX would use $2 billion of USD1 stablecoins to close its investment in Binance.