UAE’s ruling family agrees to $2bn transaction with Trump crypto firm
A company controlled by the UAE’s ruling family has agreed to conduct a $2bn transaction using a stablecoin launched by US President Donald Trump’s sons, raising concerns about a conflict of interest between the president and a powerful Gulf state.
“We are excited to announce today that USD1 has been selected as the official stablecoin to close MGX’s $2bn investment in Binance,” Zach Witkoff, a co-founder of the Trump family’s firm, World Liberty Financial, announced on Wednesday at a crypto conference in Dubai.
Zach is the son of Trump’s Middle East envoy, Steve Witkoff.
World Liberty Financial is owned by a Trump family corporate entity. Zach and President Trump’s son Eric, however, have become the most public…
