Pintu News – A major step has been taken by the Trump family in the crypto space through their company, World Liberty Financial

output: A major development has unfolded in the crypto sphere with the Trump family's company, World Liberty Financial, receiving a $2 billion investment from Abu Dhabi’s state-backed investment firm MGX.

This marks a significant shift as the family, known more for political ties, is venturing into the metaverse with the creation of USD1, a stablecoin.

To process this investment, which is also being integrated by Binance, one of the largest crypto exchanges, they will be using the stablecoin developed by World Liberty Financial.

The Role of USD1 in Large Transactions

USD1, a stablecoin designed to maintain a stable value, was chosen as the main digital currency for a $2 billion investment transaction by MGX.

According to Zach Witkoff, co-founder of World Liberty Financial, the use of USD1 in this transaction showcases the great confidence MGX and Binance have in the platform they are building. It also marks the initial step in their ambitious plan to integrate crypto in traditional retail systems.

At an event in Dubai, where Eric Trump was also present, Witkoff mentioned that the integration of USD1 with Tron, the crypto founded by Justin Sun, would allow for the minting of very large amounts of the stablecoin.

This not only demonstrates the technological advancements they are adopting but also the potential economic growth that could result from this cooperation.

Controversy and Investment Ethics

While these investments appear lucrative, concerns arise about potential conflicts of interest. President Donald Trump has previously expressed skepticism towards crypto but now supports World Liberty Financial.

Ethics and crypto observers point out that large investments like this could be a way for foreign investors to seek influence in government, considering Trump’s position of political influence.

Danielle Brian, executive director of the Project on Government Oversight, highlighted that this situation showcases a loophole in current ethics law, allowing the president to retain a financial interest in a business during his term.

This raises serious questions about the transparency and regulation surrounding Trump’s involvement in crypto.

Global Expansion and Ambition

Besides crypto investments, the Trump family is also involved in major property projects in the UAE. Eric Trump announced that the Trump organization managed to get permission to build a new skyscraper which will have the world’s tallest swimming pool.

This project, expected to be included in the Guinness Book of World Records, showcases Trump’s business expansion outside of the United States.

Zach Witkoff also expressed his hope that one day, people could use tokens from World Liberty Financial for everyday transactions, such as buying at a deli in New York City or at the Four Seasons in Abu Dhabi.

This shows their long-term vision to make crypto a part of everyone’s daily lives.