Trump Family Profits from $2 Billion Crypto Deal
The Trump family, with a 60% stake in World Liberty Financial, is engaged in a $2 billion transaction. The stablecoin USD1, pivotal in the deal, was announced in Dubai. This marks a wade into cryptocurrency investment.
Trump Family Secures $2 Billion Crypto Transaction
Eric Trump and co-founder Zach Witkoff were key figures at the Dubai crypto convention, revealing the investment in Binance. MGX, the Abu Dhabi firm, utilizes USD1 for this record-setting transaction, marking a major shift for the Trump family.
Implications of Trump Family’s Crypto Involvement
The deal’s disclosure has stirred conversations about the Trump family’s crypto market influence, notably about regulatory impacts under their leadership.
The Securities and Exchange Commission’s investigation approach may shift, raising further speculations.
The financial structure offers substantial potential benefits, with 75% revenue retained from tokens by World Liberty Financial. Historical trends indicate significant gains, comparable to major issuers like Tether and Circle, bolstering the crypto venture’s profitability.
Trump’s Crypto Stance Evolves Amid New Deals
President Trump previously criticized crypto as a “scam,” yet his support showcases a notable reversal. Similar conflict of interest concerns have previously arisen with foreign investments linked to familial ventures.
Experts from Kanalcoin highlight potential market volatility and regulatory scrutiny, considering previous crypto market activities. The deal may serve as a blueprint, contrasting past responses while benefiting from favorable regulatory climates.
USD1 has been selected as the official stablecoin to close MGX’s $2 billion investment in Binance — Eric Trump
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