Abu Dhabi Investment:
- An Abu Dhabi-based investment firm, MGX, is set to use the USD1 Stablecoin associated with Trump's World Liberty Financial for an investment of $ 2 billion in the Cryptocurrency Exchange.
- This information was revealed at a cryptocurrency conference in Dubai by the co-founder of the World Liberty Financial.
- World Liberty Financial and USD1:
- The World Liberty Financial has launched the USD1 StableCoin, which has been designed for the US dollar, and is supported by the American Treasury and other cash counterparts.
- The company aims to "Democratize" by providing financial services without traditional middlemen.
- It has been reported that a unit of the Trump family holds a large stake in the World Liberty Financial Company.
Concern and controversy:
- The participation of the Trump family in this venture has expressed concern about the possible struggles of interest, especially given the political situation of Donald Trump.
- Critics have pointed to close ties between the Trump family and the United Arab Emirates, where MGX is based as a possible source of concern.
- There are also concerns about lack of transparency about who are the major holders of the USD1 stable coins.
- Senators have made statements that the deal is "corrupt" and "probability illegal".
- Connected and related figures:
- Binance, one of the world's largest cryptocurrency exchanges, is the recipient of an investment of $ 2 billion.
- Former Binance CEO Changpeng Jhao has been seen with data included in the World Liberty Financial.
- Justin Sun, a Hong Kong -based Crypto entrepreneur, is a major investor in the World Liberty Financial.
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Dubai