- UAE firm MGX invested $2B in Binance using World Liberty’s USD1 stablecoin.
- Timing overlap with UAE AI chip approval sparked conflict-of-interest concerns.
- Eric Trump denied misconduct, citing family’s crypto entry after banking cutoff.
Eric Trump has rejected claims of conflict of interest after a report linked his family to a major UAE investment in Binance. Speaking on CNBC, he said, “My father’s the first guy who hasn’t made money off of the presidency,” as questions mounted over the timing of the deal.
What Was the UAE-Binance Deal?
In March 2025, UAE investment firm MGX invested $2 billion into Binance. The deal was carried out using USD1, a stablecoin issued by World Liberty Financial. That company was co-founded by Donald Trump, his three sons, and real estate developer Steve Witkoff along with his son Zach.
By May 2025, supply data showed USD1 in circulation at $2.6 billion, with most transactions tied to Binance. The link between MGX’s investment and World Liberty’s token drew scrutiny from regulators and the press.
Related: Binance CZ Reacts to TON’s UAE Golden Visa Hype, Floats BNB Idea Amid Government Denial
Why Did Timing Raise Scrutiny?
Two weeks after the Binance deal, the Trump administration reportedly approved an agreement allowing the UAE to purchase advanced AI computer chips. The overlap led to speculation that political favors could have intersected with the family’s crypto project.
The New York Times noted there was no proof the crypto investment was connected to the chip approval. But the sequence tested ethics rules designed to prevent government officials from making decisions that could enrich their relatives.
How Did Eric Trump Respond?
Eric Trump defended the family’s role in digital assets during his CNBC interview on Tuesday. He said the Trumps entered crypto because banks cut them off, not because of political advantage.
Eric also highlighted his position as chief strategy officer at American Bitcoin, a mining and holding company he co-founded with Donald Jr. He framed the family’s crypto involvement as part of ongoing business ventures.
When asked about the chip deal, he argued the family was being unfairly targeted and compared the scrutiny to controversies surrounding Hunter Biden.
World Liberty’s Expanding Role in Crypto
World Liberty has become central to the Trump family’s wealth in digital assets. Earlier this month, its WLFI token began trading on exchanges. That launch reportedly boosted the family’s crypto holdings by nearly $5 billion.
Both the White House and World Liberty have denied any connection between the $2B MGX investment and the chip approval. Still, the overlap has kept market and political attention fixed on USD1’s role in Binance flows.
Related: Justin Sun Presses World Liberty Financial to Release Frozen WLFI Tokens
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