Stablecoin Issued by Trump-Linked World Liberty Financial Is Being Used in a $2 Billion Investment Deal Involving Binance

A stablecoin issued by a crypto startup tied to Donald Trump will be used in a $2 billion investment deal involving crypto exchange Binance, in a major development highlighting the rising influence of Trump-linked cryptocurrency ventures.

The announcement was made at the TOKEN2049 conference in Dubai on Thursday by Zach Witkoff, co-founder of World Liberty Financial, which launched the dollar-pegged stablecoin USD1.

The coin is issued on Binance’s own blockchain and aims to support financial inclusion by reducing reliance on traditional banks.

Its use in such a massive investment was confirmed by Witkoff, who is the son of real estate mogul and former Trump ambassador Steve Witkoff.

At the same event, Eric Trump, son of former U.S. president Donald Trump, also made an appearance, further boosting the Trump family’s visibility in the crypto industry.

The integration of USD1 on Tron blockchain, founded by Hong Kong-based crypto entrepreneur Justin Sun, was also announced.

Sun, an investor in World Liberty Financial, has reportedly committed at least $75 million to the startup.

He is also facing a U.S. securities fraud lawsuit, which the Securities and Exchange Commission (SEC) has temporarily paused, citing public interest.

Sun moderated the panel in Dubai where the announcements were made.

The use of USD1 in such a massive investment is a significant development in the global crypto ecosystem.

According to CoinMarketCap, USD1’s circulating value hit approximately $2.1 billion as of Wednesday, making it one of the fastest-growing stablecoins on the market.

However, the identity of its top holders remains unknown.

Blockchain analysis firm Arkham reported that a single anonymous wallet received $2 billion worth of USD1 between April 16 and 29, though ownership of the wallet could not be independently verified.

The deal also hints at close ties between World Liberty and Binance.

Recently, a social media post showed Binance founder and former CEO Changpeng Zhao meeting with Zach Witkoff and other World Liberty executives in Abu Dhabi.

Zhao, who stepped down from Binance in 2023 following a $4.3 billion settlement with U.S. authorities over anti-money laundering violations, remains a significant shareholder in the exchange.