According to an investment company and Binance, the largest agreement of $ 2 billion between an investment company and binance of the American president, the American president Donald Trump, is used in an agreement of $ 2 billion between an investment company in Abu Dhabi and Binance, the largest exchange of global crypto, according to one of the company’s co -founders.
This is the last move of Crypto linked to the Trump family, after a launch of money earlier this year, which aroused criticism of the conflicts of possible interests.
World Liberty, which aims to allow people to access financial services without intermediaries such as banks, said in March that it would launch USD1, a stablecoin at point of a dollar supported by US treasury bills, dollars and other cash equivalents.
Speaking at a crypto conference in Dubai, Zach Witkoff, co-founder of World Liberty, said that USD1 would be used to close the investment of $ 2 billion by MGX based in Abu Dhabi in Binance, the greatest exchange of crypto in the world.
“We are delighted to announce today that USD1 has been selected as an official Stablecoin to close the investment of MGX dollars in Binance,” said Witkoff, who is the son of Trump’s special envoy in the Middle East, Steve Witkoff.
Democratic senator Elizabeth Warren has strongly criticized the company and the American legislation on hold on the stablées in the Senate controlled by the Republican.
A fund “supported by a foreign government has just announced that it would make an agreement of $ 2 billion using the stablescoins of Donald Trump,” said Warren, a member of the Banque Committee of the US Senate. “Meanwhile, the Senate is preparing to adopt the law of” genius “- stablecoin legislation which will allow the president and his family to line his own pockets more easily. It is corruption and no senator should support him.”
The White House and the World Liberty Financial did not immediately respond to requests for comments.
The use of the USD1 in the agreement highlights the growing influence of World Liberty in the global cryptography industry and its links with binance. USD1 is issued on the Binance blockchain.
Stablecoins are an increasingly lucrative cog in the world trade in cryptography. Their transmitters generally benefit from the interest of treasury bills and other assets that underlie them.
The value of USD1 in circulation reached approximately 2.1 billion dollars on Wednesday, according to CoinmarketCap data, making it one of the fastest growth stables. The identity of its main holders, however, remains uncertain.
An anonymous cryptocurrency portfolio which contains $ 2 billion from USD received funds between April 16 and 29, according to data from the Crypto Arkham research company. Reuters could not check the owner of this portfolio.
The founder and former CEO of Binance, Changpeng Zhao, who was imprisoned in the United States last year after pleading guilty of having violated American laws against money laundering, met Zach Witkoff and two other co-founders of the Liberty world in Abu Dhabi, according to a photo published on the social media site X on Sunday.
“It was great to see our friends”, in Abu Dhabi, posted Zhao in response to the photo, marking Witkoff.
Zhao, who in 2023 left his role in Binance as a regulation of $ 4.3 billion with the United States for illicit funding charges, remains a major shareholder in Binance.
Tron integration
In addition, Zach Witkoff has announced that USD1 would be integrated into Tron, the blockchain of the cryptographic entrepreneur based in Hong Kong Justin Sun.
Sun is the largest known investor in World Liberty and company advisor, according to his publications on social networks, having paid at least $ 75 million in the project.
Sun was fighting a trial for fraud in American securities at the time of his first investment in world freedom. The American Commission for Securities and Exchange in February took a break from him, citing the public interest.
Sun moderated the panel on which Witkoff spoke on Thursday, with Trump’s son, Eric Trump also on stage.
The American president, who campaigned on the promises of being a “president of cryptography”, is committed to revising the federal rules on the crypto.
Trump handed his assets to his children before returning to the White House and he will have no role in daily decision -making, his business said.