In a historic coup, World Liberty Financial (WLF), a cryptocurrency firm with very close ties to President Donald Trump, has facilitated the $2 billion investment by UAE-based MGX into the world’s largest crypto exchange, Binance.
The transaction incorporates the use of WLF’s March 2025-launched USD1 stablecoin backed by U.S. Treasuries and cash equivalents and dollar-pegged.
This transaction reflects WLF’s dizzying rise to prominence in the crypto market. The market capitalisation of USD1 has risen from $130 million in late April to more than $2.1 billion.
The Trump family, owning a 60% stake in WLF and entitled to 75% of its revenues, will stand to gain enormous profits from the boom.
However, the overlap of Trump’s political persona and private business interests has prompted ethical complaints.
Senators Jeff Merkley and Elizabeth Warren have called for detailed documentation of the MGX-Binance transaction, citing foreign influence in U.S. politics and conflict of interest.
As much as the Trump administration is eager to push a pro-crypto regulatory agenda, the boundaries between private business and public service seem to blur more and more.
The WLF transaction is the kind of complexity and controversy where politics meets new financial technologies.
submitted by /u/Significant_Wave_634
[link] [comments]
Join The SmashBotAI Telegram Community Now! Get trade alerts, smashable token trade ideas, and more!
https://t.me/smashbotcommunity
Start Trading Now:
SmashBotAI Telegram Bot
Claim Your $SMASH Airdrop Now!
