Reported Investigation requested; none publicly confirmed
Abu Dhabi state-backed MGX settled its $2 billion Binance investment in USD1, the Trump-family-linked stablecoin
The May 1, 2025 announcement was made onstage by WLF co-founder Zach Witkoff alongside Eric Trump.
Events: 2025-03-12 → 2025-05-01 · Published 2026-07-21 · Last verified 2026-07-21 · Record claim-crypto-usd1-mgx-binance
Reuters and The Guardian reported that MGX, an Abu Dhabi state-backed investment firm, announced a $2 billion investment in Binance in March 2025, and that on May 1, 2025 WLF co-founder Zach Witkoff — onstage with Eric Trump and Justin Sun — announced USD1, World Liberty Financial's stablecoin, had been selected to close the transaction. Senators Warren and Merkley later sought records on the deal, and Reuters' October 2025 investigation estimated the deal accounted for roughly three-quarters of USD1 in circulation at the time.
What this establishes
- That a foreign state-backed firm routed a record crypto-exchange investment through a stablecoin issued by the president's family-linked firm.
- A formal congressional records request about the transaction.
What this does not establish
- That the choice of USD1 was a condition of any U.S. government action; MGX cited commercial factors.
- The final financial benefit to the Trump family from the reserve structure; Reuters said public reporting was insufficient to know.
- Any adjudicated wrongdoing by any party to the transaction.
Amounts
| What | Amount | Precision | Source |
|---|---|---|---|
| MGX investment in Binance, announced as paid entirely in stablecoins and later settled in USD1 | $2,000,000,000 | reported point estimate | Reuters |
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“Exact primary record” is reserved for a precise figure in a first-party record. Point estimates, minima, maxima, and ranges keep their own labels and should not be read as more precise than the cited source.
Public response on record
“World Liberty Financial called the arrangement standard practice, and has called suggestions that Binance can influence the company 'patently false.' MGX cited business suitability, the currency of backing assets, and compliance history for its choice of USD1.”
— WLF and MGX statements, as reported by Reuters and Forbes · source
This records only whether a public response was located in a cited record as of the dated search note above. It is not a statement that this project contacted the subject.
Direct right-of-reply status
Direct outreach: not conducted by this project for this v0 record.
On the timeline
- 2025-05-01 Business USD1 announced as the stablecoin closing MGX's $2 billion Binance investment
Adjacency on a timeline shows order in time only. It does not establish that one event caused another.
Correction status
No corrections have been issued for this record. Corrections are append-only and listed on the corrections page.