Home Binance Rejects Role In $2B Deal Using Trump-linked Stablecoin USD1

Binance Rejects Role In $2B Deal Using Trump-linked Stablecoin USD1

By Vishakha ThakurNovember 6, 20251 Mins read665 Views

Binance Rejects Role In $2B Deal Using Trump-linked Stablecoin USD1 | 3verseTV

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Binance CEO Richard Teng has rejected claims that the exchange played a role in selecting USD1— a stablecoin launched by the Trump family’s World Liberty Financial — for a $2 billion investment transaction involving Abu Dhabi-based MGX. Speaking to CNBC, Teng said MGX alone chose the settlement currency and Binance “didn’t partake in that decision.”

The investment was announced in March but became politically charged after President Donald Trump issued a pardon to Binance founder Changpeng Zhao in October. Zhao had pleaded guilty to U.S. charges linked to Binance’s AML violations and the exchange’s $4.3 billion settlement last year.

Lawmakers including Senators Elizabeth Warren and Chris Murphy have raised concerns about perceived favoritism toward crypto allies, suggesting political links between the Trump administration and Binance. Binance has threatened legal action against such allegations. The exchange emphasizes that it did not influence the use of USD1 in the MGX transaction.

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Vishakha Thakur -

Vishakha Thakur is a news anchor at 3.0 TV with five years of experience in journalism, specializing in crypto and Web3 for over three years. She hosts popular weekly shows like AI Coins and ETF Watch Crypto Edition and has a deep understanding of the Web3 ecosystem, including Blockchain, Crypto ETFs, Metaverse, NFTs, Meme coins and Digital Assets. Vishakha has reported from major events including Crypto Expo Dubai and Money Expo Mumbai and has interviewed more than 50 industry leaders, such as Eric Balchunas and James Seyffart from Bloomberg, along with experts from CoinShares and Standard Chartered. Before 3.0 TV, she worked with TSR Digital TV in Himachal Pradesh and BalleBolly Magazine in Chandigarh, India’s first English print magazine for the Punjabi film and music industry, where she anchored interviews and wrote feature articles. Hailing from Himachal Pradesh, Vishakha is a gold medalist in Journalism and Mass Communication and is passionate about making complex digital finance topics clear and accessible through careful research and insightful reporting.