President Trump's World Liberty Financial says Abu Dhabi's MGX fund is investing $2B in Binance using World Liberty's USD1 stablecoin, raising ethical concerns
A deal for a state-backed Emirati firm to use a Trump-affiliated digital coin was announced in a panel that included the president's son …
New York Times David Yaffe-Bellany
Related Coverage
- As Trump's Family Crypto Business Gains Steam, Ethical Concerns Mount Wired · Joel Khalili
- Trump-Tied Stablecoin Used for MGX's $2 Billion Binance Deal Bloomberg
- Inside Trump's 100 days of presidential profit Axios · Zachary Basu
- World Liberty Financial's $USD1 Fuels $2B Binance Investment & Coins Like Best Wallet Token Bitcoinist.com
- Trump's World Liberty Financial Stablecoin Chosen For $2 Billion Binance Deal Bitcoin Insider · Ronaldo Marquez
- UAE funnels $2bn into Trump's cryptocurrency Yahoo Finance · Melissa Lawford
- House Republicans finally have corruption to investigate. They won't. Washington Post · Philip Bump
- Thursday Mailbag: Is it cypherpunk to contribute crypto to bitcoin treasury companies? Blockworks · Byron Gilliam
- Trump's Corruption Hits Next Level With Shady $2 Billion Crypto Deal New Republic · Malcolm Ferguson
- UAE-backed fund to use Trump family's cryptocurrency to buy $2B stake in Binance: report New York Post · Ariel Zilber
- Trump-Backed Stablecoin USD1 to Power $2 Billion Binance Deal with Abu Dhabi's MGX The Crypto Basic · Olivia Stephanie
- Conflict of Interest? No Problem. Trump Family Will Collect Hundreds of Millions Diane Ravitch's blog
- Trump-backed World Liberty Financial partners with Pakistan Crypto Council Cointelegraph · Brayden Lindrea
- An Abu Dhabi investment company is going to invest $2B in Binance using the USD1 stablecoin created by the Trump family. — The Trump family has made over a billion dollars across NFTs, memecoins and other crypto projects in the past year. — https://finance.yahoo.com/... @carnage4life@mas.to · Dare Obasanjo
- An emolumental deal for the Trump family. — https://www.nytimes.com/... @mattblaze@federate.social · Matt Blaze
- “Ethical concerns.” — Shame the framers of the Constitution didn't think to include a clause forbidding Presidents from taking cash payments from foreign governments. What nitwits. — https://www.nytimes.com/... @_dm@infosec.exchange
- Trump's Stablecoin Chosen For $2 Billion Abu Dhabi Investment In Binance Slashdot · BeauHD
Discussion
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@harikunzru
Hari Kunzru
on bluesky
It's as if the corruption is now so brazen - and at such a massive scale - that the establishment is unable to recognize what it's seeing www.nytimes.com/2025/05/01/u...
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@donmoyn
Don Moynihan
on bluesky
Absolutely naked influence buying by a foreign country: “A fund backed by Abu Dhabi, he said, would be making a $2 billion business deal using the Trump firm's digital coins.” www.nytimes.com/2025/05/01/u...
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@link.spacelawshitpost.me
Łink
on bluesky
Very normal stuff and not at all corrupt.
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@larryglickman
Larry Glickman
on bluesky
Trump uses the presidency to enrich himself and his family, while using that same office to impose catastrophic policies that will make those of us who aren't among his billionaire sycophantic “friends,” poorer, less free, less secure, and less healthy. — www.nytimes.com/2025/0…
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@blumenthal.senate.gov
Richard Blumenthal
on bluesky
Arrogant & avaricious beyond words, crypto corruption in Trump's aspiring autocracy cries out for Congressional investigation. The public needs to know how Trump & his sycophants are brazenly, blatantly exploiting power & self-enriching. Trump's DOJ, SEC can't be counted on to …
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@danpfeiffer
Dan Pfeiffer
on bluesky
It's hard to overstate how corrupt this is www.nytimes.com/2025/05/01/u...
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@marypcbuk
Mary Branscombe
on bluesky
digitizing corruption — putting corruption on the blockchain — because it doesn't matter that there's a permanent fucking record of corruption when there's no enforcement [embedded post]
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@warren.senate.gov
Elizabeth Warren
on bluesky
A shady fund backed by a foreign government just announced a $2 billion deal using Trump stablecoins. — The Senate is gearing up to pass stablecoin legislation that will make it easier for Trump's family to line their own pockets. — This is corruption. No senator should supp…
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@wendysiegelman
Wendy Siegelman
on bluesky
Zach Witkoff, a founder of World Liberty Financial, announced a Trump-affiliated digital coin would be used for a transaction between the state-backed Emirati firm MGX and Binance - which could generate hundreds of millions of dollars for the Trump family — www.nytimes.com/2025…
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@hfgarcia
Helio Fred Garcia
on bluesky
The corruption is out in the open. So much for the Emoluments Clause. — www.nytimes.com/2025/05/01/u...
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@kenvogel
Ken Vogel
on bluesky
NEW: A fund backed by Abu Dhabi will be making a $2 BILLION business deal using cryptocurrency from the Trump family's venture, World Liberty Financial, according to Zach Witkoff. — That transaction would be a major contribution by a foreign government to President Trump's priv…
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@SeanCasten@mastodon.social
Sean Casten
on mastodon
If Mike Johnson gave a damn about the Constitution he claims to be an expert in we would be having immediate hearings on this blatant emoluments violation. There will be accountability. But apparently not until Dems get the gavels back from these cowards. https://www.nytimes.co…
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@justinsuntron
H.E. Justin Sun
on x
This has been an incredible experience — we are making history, and it's all thanks to U.S. President Trump and the wise leadership of the UAE government.
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@justinsuntron
H.E. Justin Sun
on x
Great seeing you at #Token2049 @EricTrump!🤝 [image]
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@wublockchain
Wu Blockchain
on x
Eric Trump, at Token2049 in Dubai, announced that the Trump family's World Liberty Financial USD stablecoin (USD1) has been chosen as the official stablecoin for MGX's $2 billion investment in Binance. Earlier this year, Abu Dhabi-based MGX announced plans to acquire a $2 billion
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@libsoftiktok
@libsoftiktok
on x
BREAKING: World Liberty Financial co-founder Zach Witkoff and Eric Trump announced at the TOKEN2049 conference that WLFI will be used in a $2 BILLION investment by Abu Dhabi into the world's leading crypto exchange, Binance. [video]
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@token2049
@token2049
on x
Button check, backstage. @EricTrump @worldlibertyfi #TOKEN2049 [image]
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@richardhanania
Richard Hanania
on x
Gulf Arabs are now using Trump crypto as currency. There's such a surreal aspect to sentences like this. It was announced by Steve Witkoff's son who was on a conference panel with Eric Trump. I'm just out of words to describe the corruption of this administration. [image]
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@erictrump
Eric Trump
on x
It was a great honor! 🔥🔥 [video]
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@justinsuntron
H.E. Justin Sun
on x
Dubai 🇦🇪 is becoming the center of cryptocurrency. @EricTrump @ZachWitkoff [image]
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@janemayernyer
Jane Mayer
on x
The Times describes the number of conflicts of interest as “unprecedented.”
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@kenvogel
Kenneth P. Vogel
on x
The transaction would be a major contribution by a foreign government to President Trump's private venture, potentially generating huge sums for the Trump & Witkoff families, while highlighting the ethical conflicts around Trump's crypto forays. @yaffebellany reports from Dubai.
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@donwinslow
Don Winslow
on x
WHY IS THIS STORY NOT EVERYWHERE???
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@iansams
Ian Sams
on x
Two stories, same day, I'm sure totally unrelated... (left) NYT: UAE pours $2 billion into Trump crypto coins (right) Bloomberg: Trump White House may ease restrictions on selling AI chips to UAE [image]
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@trondao
Tron Dao
on x
.@justinsuntron, @EricTrump and @ZachWitkoff joined together for a fireside chat at #TOKEN2049 Dubai. 🎙️ Did you catch the news? ⬇️ @worldlibertyfi's #USD1 will soon be natively integrated on #TRON. ⛓️ [image]
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@senblumenthal
Richard Blumenthal
on x
Arrogant&avaricious beyond words, crypto corruption in Trump's aspiring autocracy cries out for Congressional investigation. The public needs to know how Trump&his sycophants are brazenly, blatantly exploiting power&self-enriching. Trump's DOJ, SEC can't be counted on to stop it.
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@davemcclure
Dave McClure
on x
see #emoluments #constitution https://wikipedia.org/... “No Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, #Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.”
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@jonlemire
Jonathan Lemire
on x
“The $2 billion transaction would be a major contribution by a foreign government to President Trump's private venture — one that stands to generate hundreds of millions of dollars for the Trump family” https://www.nytimes.com/...
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@zachwitkoff
Zach Witkoff
on x
The UAE is a spectacular country. They have become a leader in AI and crypto due to the strong and visionary leadership in the emirates. The future of our industry has never looked so bright.
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@timodc
Tim Miller
on x
Corruption at a level that we have never seen in this country. More akin to what one might have seen in Libya.
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@public_citizen
@public_citizen
on x
What the hell?! A UAE government-backed firm announced a $2 BILLION business deal using Trump's meme coin. A foreign nation is funneling money directly into Trump's pocket. U.S. policy should NOT be for sale. [image]
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@coindesk
@coindesk
on x
UPDATE: @worldlibertyfi's @ZachWitkoff teased more $USD1 partnerships in the future. “We have a lot on the way at World liberty....we are working really hard on getting integrations into traditional retail point of sale systems.” he added. https://www.coindesk.com/...
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@sawyerhackett
Sawyer Hackett
on x
Staggering levels of corruption...
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@teresagoody
Teresa Goody Guillén
on x
Well done @EricTrump @ZachWitkoff @justinsuntron - great panel at @token2049! Joined by @worldlibertyfi co-founders @zakfolkman and @WatcherChase - 2 announcements: transactional use of USD1 & integration on TRON - and increasing access to financial services & wealth. 👏 [image]
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@richardhanania
Richard Hanania
on x
Justin Sun, who got his SEC case dismissed by the administration after buying $75 million in a Trump-linked coin, was also on the panel. [image]
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@kenvogel
Kenneth P. Vogel
on x
NEW: A fund backed by Abu Dhabi will be making a $2 BILLION business deal using digital coins from the Trump family's cryptocurrency venture, World Liberty Financial, according to an announcement Thursday in Dubai by Steve Witkoff's son Zach Witkoff. https://www.nytimes.com/...
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@senblumenthal
Richard Blumenthal
on x
No ordinary entrepreneur would even dream of this kind of crypto deal. Crypto may seem complex&confusing but this catastrophic abuse of power is very simple. It's undisguised greed. https://www.nytimes.com/...
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@mattyglesias
Matthew Yglesias
on x
Trump's trade deals are fake but the deal where the UAE buys his meme coin and in exchange he lets them subvert nation security could be very real [image]
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@senwarren
Elizabeth Warren
on x
A shady fund backed by a foreign government just announced a $2 billion deal using Trump stablecoins. The Senate is gearing up to pass stablecoin legislation that will make it easier for Trump's family to line their own pockets. This is corruption. No Senator should support it.
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r/economicCollapse
r
on reddit
Trump company makes $2 billion deal with Abu Dhabi
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r/politics
r
on reddit
Abu Dhabi-Backed Firm Will Use Trump Crypto in $2 Billion Deal