World Liberty Financial’s Stablecoin Powers $2B Binance Deal

World Liberty Financial (WLFI), a crypto venture backed by President Donald Trump, is taking center stage in a significant crypto investment. Its stablecoin, USD1, is being used in a $2 billion investment into Binance, the biggest crypto exchange in the world. This move marks a big moment for the decentralized finance project. This shows how fast it is growing and becoming more critical in global digital finance. Trump’s Stablecoin Takes the Spotlight At a recent crypto conference in Dubai, Zach Witkoff, co-founder of World Liberty, announced that USD1 would be used to complete a $2 billion investment into Binance. The funding is expected from MGX, a company based in Abu Dhabi. This deal is set to give USD1 a strong position in the market and shows how World Liberty is building ties with Binance. World Liberty Financial introduced USD1 in March, a dollar-pegged stablecoin backed by U.S. Treasuries, dollars, and other cash assets. Notably, USD1 is issued directly on Binance’s blockchain. USD1 Value is Growing Fast, But Holder Is Unknown USD1 is already making headlines with its fast rise. As of Wednesday, about $2.1 billion worth of USD1 is in circulation, based on data from CoinMarketCap. However, who holds that amount remains a mystery. Arkham, a crypto research firm, found that a single anonymous wallet received nearly all $2 billion worth of USD1 between April 16 and 29. The wallet owner is still unknown. WLFI Makes Allies With Industry Leaders Even with past legal troubles, Binance plays a significant role in the crypto industry. Its founder, Changpeng ‘CZ’ Zhao, met with Witkoff and other WLFI co-founders in Abu Dhabi, as seen in a photo posted on X . CZ, who stepped down as CEO last year and paid $4.3 billion in settlement for violating U.S. anti-money laundering laws, is still a major shareholder in Binance. World Liberty is also teaming up with Tron, the blockchain created by Hong Kong crypto figure Justin Sun. Witkoff confirmed that USD1 will be added to Tron’s system. Sun, who once faced a U.S. securities fraud lawsuit, has invested at least $75 million in World Liberty and is an advisor. He once had a legal case with the U.S., but it was paused in February. Sun served as moderator during the panel in Dubai. Eric Trump, Donald Trump’s son, was also on the stage. President Donald Trump has promised to reshape how the U.S. handles digital currencies. Meanwhile, his involvement with projects like World Liberty and TRUMP memecoin has drawn criticism . Some argue that his financial ties to crypto may create conflicts of interest while he is in office. However, the president’s team revealed that he is not involved in World Liberty’s daily activities. They claimed his business assets, including the crypto project, are managed by his children. The post World Liberty Financial’s Stablecoin Powers $2B Binance Deal appeared first on TheCoinrise.com .

Source: The Coin Rise