MGX to Use Trump Stablecoin for $2B Binance Investment

Abu Dhabi-based investment firm MGX will settle its $2 billion investment in Binance using a stablecoin tied to U.S. President Donald Trump’s family, according to an announcement made during a panel at Token2049 in Dubai.

The transaction will be executed using USD1, a U.S. dollar-pegged stablecoin launched in March 2025 by World Liberty Financial (WLFI), a crypto platform linked to the Trump family. Eric Trump, who serves as executive vice president of the Trump Organization, confirmed the development during the event.

MGX first announced the investment on March 12, which is Binance’s first institutional funding deal and one of the largest capital infusions in the Web3 sector to date. At the time, Binance declined to disclose which stablecoin was used.

For MGX, this investment is its entry into the crypto space. The firm has focused on data centers, clean energy, and AI and sees Binance as a key player in connecting blockchain, finance, and artificial intelligence.

Binance remains the world’s largest crypto exchange, boasting over 260 million users and offering 466 cryptocurrencies, according to CoinMarketCap.

The deal came shortly after Binance co-founder and former CEO Changpeng “CZ” Zhao dismissed speculation that the exchange is up for sale.

Zhao called the rumors misinformation spread by a competitor in Asia and insisted that Binance remains privately held. “Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale. As a shareholder, Binance is not for sale,” he wrote on X.

Eric Trump Criticizes Traditional Finance

During the panel, Eric Trump took aim at the traditional banking sector, calling it outdated and inefficient.

“The U.S. is seeing that the financial world has to progress. It’s a joke,” he said. “Why do banks run nine to five, Monday to Friday, with an hour and a half for lunch?”

Trump pointed to the limitations of the SWIFT system for cross-border payments, which can take up to 35 hours to settle, compared to minutes for stablecoin transfers on blockchain networks like Ethereum.

“We’re at the dialogue phase of the crypto revolution right now, and the people who are going to make it big are the people who see it today, not in five years,” he added.