Eric Trump announced at the Taken2049 event on May 1, that World Liberty Financial Stablecoin USD1 would be the official Stablecooin that would support MGX investments worth $ 2 billion on the Binance Cryptocurrency, according to reports.
Binance first informed the agreement with the technological investment company based on Abu Dhabi in March.
At the time, World Liberty Financial, with Donald Trump’s support, announced plans to launch Stablecoin in dollars with BITGO. The global Liberty coin, called USD1, aims to maintain a value of $ 1 and fully support it to a backup, according to the initial launch.
The agreement between Binance and MGX is a great victory for World Liberty, who is lucky at USD1 at Stablecoins Market. Two main stablecoins, USDT and USDC 91 % of the total market of $ 231 billion, have been reported from the block data.
At the event of yesterday, Trump’s founder Zach Witkev has hinted that there will be future projects and integration of Defi. He is the son of the envoy to the American Middle East, Steve Witkeov.
However, Senator Elizabeth Warren said the deal raised “red flags”. “A mysterious fund backed by a foreign government announced that it will make a billion dollar deal using Stablecoins from Donald Trump,” she wrote in a statement. “Meanwhile, the Senate is preparing to agree to the legislation of Stablecoins that will make it easy for the president and his family to fill their pockets. This is corruption and a Senator does not support it.”
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