Trump’s World Liberty Financial Stablecoin Chosen For $2 Billion Binance Deal
By: bitcoinist|2025/05/02 21:15:01
0
Share
A stablecoin launched by Donald Trump’s World Liberty Financial (WLFI) venture is being utilized by an Abu Dhabi investment firm for a substantial $2 billion investment in the crypto exchange Binance. This announcement was made by one of the co-founders of World Liberty during a crypto conference in Dubai. World Liberty Financial USD1 Emerges As Fastest-Growing Stablecoin World Liberty Financial aims to democratize access to financial services by eliminating intermediaries like banks. Earlier this year, the company announced the upcoming launch of USD1, a dollar-pegged stablecoin that will be backed by US Treasuries, cash, and other equivalents. Zach Witkoff, a co-founder of World Liberty Financial and son of Trump’s envoy Steve Witkoff, confirmed that USD1 would facilitate the closing of the investment by MGX, the Abu Dhabi-based firm, into Binance. Witkoff expressed enthusiasm about the partnership, stating, “We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance.” As of recent reports, the circulation of USD1 reached approximately $2.1 billion, marking it as one of the fastest-growing stablecoins in the market. However, the identities of its major holders remain largely undisclosed. Notably, an anonymous cryptocurrency wallet reportedly received $2 billion in USD1 between April 16 and April 29, though the owner of this wallet remains unknown. Adding to the intrigue, Binance founder and former CEO Changpeng Zhao met with Zach Witkoff and his fellow co-founders in Abu Dhabi, sharing a photo on social media that highlighted their connection. Zhao, who stepped down from his role at Binance amid a $4.3 billion settlement and four month imprisonment with US authorities over money laundering violations last year, continues to hold a significant stake in the exchange. Potential Conflicts Of Interest In addition to the Binance investment, Witkoff announced that World Liberty Financial’s USD1 stablecoin would soon be integrated into the Tron blockchain, which is associated with Hong Kong-based crypto entrepreneur Justin Sun . Sun is known as the largest investor in World Liberty Financial, having invested at least $75 million into the venture. His involvement comes amid ongoing legal challenges, as he faced a US securities fraud lawsuit that was recently paused by the SEC due to public interest considerations. At the conference, Sun moderated a panel featuring Witkoff and Eric Trump, Donald Trump’s son, further intertwining the Trump family’s interests with the burgeoning world of cryptocurrency. President Trump, who has positioned himself as a “crypto president,” has expressed intentions to reform US cryptocurrency regulations , though his business interests, including World Liberty Financial, have attracted scrutiny regarding potential conflicts of interest. Despite these concerns, Trump’s company has stated that he has relinquished day-to-day management of his assets to his children, ensuring a separation between his political pursuits and business operations. Featured image from DALL-E, chart from TradingView.com
You may also like

NVIDIA's Jensen Huang's new article: The "Five-Layer Cake" of AI
NVIDIA breaks down AI into a five-layer system consisting of energy, chips, infrastructure, models, and applications, and points out that every successful AI application will pull the entire industrial chain from computing power to electricity downward.

In-depth Analysis of ERC-8183: The Answer to the Trust Issue of Ethereum-Powered AI Agents
In the world of agents, one cannot conquer the world solely with reputation.

Stock Tokenization Revolution: Market Dynamics, Product Architecture, and Regulatory Moat Panorama Report
The integration of the $150 trillion global stock market with blockchain infrastructure is no longer just a proposition—it is happening.

The current Lobster Skill is just yesterday's Fruit Ninja, only meant to get you acquainted.
How Will Lobster Make Its Way into Our Lives?

Key Market Intelligence on March 10th, how much did you miss out on?
1. On-chain Funds: $51.2M USD inflow to Hyperliquid today; $51.2M USD outflow from Arbitrum
2. Biggest Gainers and Losers: $DRV, $OM
3. Top News: Middle East Conflict Sparks Stagflation Trading, Global Stock Markets Shed About $6 Trillion USD

IOSG: From Interest-Bearing Stablecoins to Crypto Credit Products
Bear Market Favors Stablecoin Yield Farming, Rise of Real World Asset (RWA) Lending with Interest-Bearing Stablecoins.

NVIDIA CEO Jensen Huang's Latest Article: The "Five Layers of AI"
NVIDIA breaks down AI into a five-level hierarchy of Energy, Silicon, Infrastructure, Models, and Applications, and points out that every successful AI application will pull through the entire stack from computation to power in the industry chain.

Daily Observation of Cryptocurrency Concept Stocks: Nasdaq Bets on Stocks on the Blockchain, Strategy Buys Another 17,994 BTC, ETH Treasury Stocks Enter Production Period
Traditional exchanges are beginning to embrace stock tokenization, while BTC treasury companies continue to increase their holdings through capital market instruments. ETH treasury companies, beyond Bitcoin, are also starting to validate the "holding + earning interest" balance sheet logic.

One-click onboarding to RootData, allowing project information to be accurately presented on over 200 platforms including Binance Wallet, Gate, TP, and more
Exchanging disclosure for trust, transparency is no longer a cost of the project, but a core asset for long-termists.

To the Builders who are still persevering in the crypto industry
Kydo deeply reflects on the dilemmas of the cryptocurrency industry: bidding farewell to the false prosperity of "selling infrastructure to developers" and proposing a new paradigm of using programmable capital to provide growth fuel for AI Agent companies.

Oil Price Cools Off, Crypto Bounces Back
Why Oil and Bitcoin Prices Always Move in Opposite Directions

a16z Releases Top 100 AI Applications List, Models Are Moving Out of the Browser and App
With the rise of video creation, Agent tools, and AI browsers, AI is evolving from a chat product into a new platform and operating environment.

If you only follow the news, you may have misconstrued this Iran conflict
With a Narrative-Driven Agenda, Western Media Falsifies War Coverage

ERC-8183: Write a Rule for a $3M On-Chain Agent Business
Before running in the Wild West of three million dollars, today, the rules have been written

AI Mistakenly 'Tips' $260,000, Makes It All Back in 24 Hours
AI Awakening seems to be really happening: they have already started to learn how to earn money on their own, and their money-earning ability may even surpass that of humans.

Arthur Hayes: Why is HYPE a 5x Moonshot?
Arthur Hayes' price target for HYPE in August 2026 is $150.

OpenClaw Money-Saving Strategy: Saving Two Thousand a Month - What Am I Doing Right?
Don't Keep Replaying Old Stuff

a16z: Making a $2 Billion Bet on the Next Dawn of Web3
What did the Inarticulate Geniuses See This Time?
NVIDIA's Jensen Huang's new article: The "Five-Layer Cake" of AI
NVIDIA breaks down AI into a five-layer system consisting of energy, chips, infrastructure, models, and applications, and points out that every successful AI application will pull the entire industrial chain from computing power to electricity downward.
In-depth Analysis of ERC-8183: The Answer to the Trust Issue of Ethereum-Powered AI Agents
In the world of agents, one cannot conquer the world solely with reputation.
Stock Tokenization Revolution: Market Dynamics, Product Architecture, and Regulatory Moat Panorama Report
The integration of the $150 trillion global stock market with blockchain infrastructure is no longer just a proposition—it is happening.
The current Lobster Skill is just yesterday's Fruit Ninja, only meant to get you acquainted.
How Will Lobster Make Its Way into Our Lives?
Key Market Intelligence on March 10th, how much did you miss out on?
1. On-chain Funds: $51.2M USD inflow to Hyperliquid today; $51.2M USD outflow from Arbitrum
2. Biggest Gainers and Losers: $DRV, $OM
3. Top News: Middle East Conflict Sparks Stagflation Trading, Global Stock Markets Shed About $6 Trillion USD
IOSG: From Interest-Bearing Stablecoins to Crypto Credit Products
Bear Market Favors Stablecoin Yield Farming, Rise of Real World Asset (RWA) Lending with Interest-Bearing Stablecoins.