(istock.com/roman Tiraspolsky)
The son of the president of the United States, Eric Trump, announced at the Token2049 event, last Thursday (1st) stablecoin USD1 from the World Liberty Financial It would be the official currency that would support the investment of US $ 2 billion of MGX in the cryptocurrency broker (exchange) Binanceaccording to reports.
In March this year, Binance said it made an agreement with the Abu Dhabi -based technology investment company.
At the same time, World Liberty Financial, linked to Donald Trump, announced plans to launch a stablecoin backed in US dollars with the Bitgo.
USD1 intends to maintain a value of $ 1 and is fully supported by a reserve portfolio, according to the initial launch.
Trump’s coin and the Binance agreement
The agreement between Binance and MGX represents a great victory for World Liberty, whose USD1 is the ball of the time in the market stablecoins.
The two main stablecoins, USDT and USDC, represent 91% of the total market US $ 231 billionaccording to data from The Block.
At the event, Trump’s co -founder Zach Witkoff hinted that there will be future projects and integrations for the company Defi. He is the son of envoy to the US Middle East, Steve Witkoff.
However, Senator Elizabeth Warren said the deal raises “red flags.” “An obscure fund supported by a foreign government has just announced that it will make a $ 2 billion deal using Donald Trump’s stablecoins,” she wrote in a statement.
“Meanwhile, the Senate is preparing to approve stablecoins legislation that will make it easier for the president and his family to fill their own pockets. This is corruption and no senator must support it.”
Source: Moneytimes
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