CZ: Mysterious Megacorp's $2 Billion Investment in Binance Completed Using USD1, Not Related to TRUMP Token

BlockBeats News, May 16th, Binance founder CZ retweeted a video related to Trump being provocatively asked in an interview about "a UAE company conducting a $2 billion transaction using the TRUMP cryptocurrency," and stated, "This is a typical example of FUD. The question in the interview was wrong, vague, and misleading. If this question is referring to MGX's $2 billion investment in Binance, this transaction was carried out using the USD1 stablecoin. This has nothing to do with the TRUMP token; TRUMP is just a meme coin."

"This is an investment transaction between an investor in Abu Dhabi and a private company. The transaction can be conducted using any currency, such as Bitcoin, UAE Dirham, USD, or USD1, depending mainly on the payer's choice. The recipient can convert the funds into any other currency upon receipt. Binance provides the best global liquidity. FUD, 4. Finally, more fiat/stablecoins are available for buying the dip. By the way."

BlockBeats previously reported that the cryptocurrency exchange Binance and Abu Dhabi-based AI and advanced technology investor MGX announced a $2 billion investment transaction. This transaction marks Binance's first institutional investment to date, the largest single investment in a cryptocurrency company, and the largest investment ever in cryptocurrency (stablecoin). This investment represents MGX's first foray into the cryptocurrency and blockchain space, acquiring a minority stake in Binance.

USD1 is a stablecoin launched by the Trump family's crypto project WLFI, backed by U.S. Treasury bonds, the dollar, and other cash equivalents. Eric Trump, Trump's son, announced that USD1 had been formally selected as the official stablecoin for Abu Dhabi investment firm MGX to complete the $2 billion investment in Binance.