Eric Trump: USD1 will be used for $2B MGX investment in Binance

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MGX will use the USD1 stablecoin for its $2 billion investment into Binance exchange, announced Eric Trump, the son of the US president and the executive vice president of the Trump Organization, during a panel discussion at Token 2049 Dubai.

Source: CointelegraphMGX announced its $2 billion stablecoin investment into Binance on March 12, marking the first institutional investment in the exchange and potentially the biggest funding deal in the entire Web3 industry.

Abu Dhabi-based investment firm MGX will be tapping a US President Donald Trump-related stablecoin to settle its $2 billion investment into Binance, the world’s largest cryptocurrency exchange.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United States

Topics: Investment Largest Funding Settle Binance Dhabi-based Stablecoin Billion Exchange President Web3

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-01 @ 11:02:33 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 193 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28308289

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 35 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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News Language: English

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Publisher ID: #11

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