In a stunning announcement at a Dubai crypto convention, World Liberty Financial revealed that its stablecoin, USD1, will serve as the vehicle for a $2 billion investment from Abu Dhabi’s state-backed firm MGX into Binance, one of the world’s largest cryptocurrency exchanges.
The revelation was made by Zach Witkoff, co-founder of World Liberty Financial, during a panel appearance alongside Eric Trump, strengthening the already visible ties between the crypto venture and the Trump family.
“USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance,” said Witkoff. “We thank MGX and Binance for their trust in us, and I think it’s only the beginning.”
Trump’s Crypto Ties Under Scrutiny The use of USD1, created by a company with direct Trump family affiliations, raises serious ethical concerns. World Liberty Financial has garnered attention and skepticism due to former President Donald Trump’s previous denunciations of cryptocurrencies as a scam, contrasting sharply with this newfound financial embrace.
Ethics watchdogs have sounded alarms over the blurring lines between political power and financial interest:
“The president is exploiting loopholes in ethics laws that allow sitting presidents to retain financial interests,” said Danielle Brian, executive director of the Project on Government Oversight.
Meanwhile, the White House has not clarified how Trump’s crypto-related financial interests are managed.
Strategic Blockchain Integration with Tron In the same announcement, Witkoff shared that USD1 will be natively integrated with the Tron blockchain, founded by controversial crypto figure Justin Sun. Sun, a major backer of World Liberty Financial, reportedly purchased $75 million worth of WLFI tokens just one day before Trump’s 2024 inauguration.
Notably, a fraud case against Sun was later dropped by SEC lawyers under Trump’s administration.
USD1 is described by its creators as “the most transparent and regulated stablecoin in the world,” allegedly backed 1:1 by short-term U.S. treasuries and cash equivalents. The firm claims to plan the minting of hundreds of millions to billions in USD1 issuance.
Crypto Meets Real Estate in the Gulf The Trump Organization is also accepting cryptocurrency payments for luxury real estate at its $1 billion Trump International Tower in Dubai, developed in partnership with Damac Properties. The project further embeds the Trump brand into the Gulf’s high-end crypto-financed development market.
As the regulatory debate around crypto and political influence intensifies, this move places World Liberty Financial at the center of one of the largest crypto-financial intersections of 2025.
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